Booking (NASDAQ:BKNG) Hits New 1-Year High on Analyst Upgrade

Booking Holdings Inc. (NASDAQ:BKNG) reached a new 52-week high during trading on Tuesday after Mizuho raised their price target on the stock from $4,800.00 to $5,400.00. Mizuho currently has an outperform rating on the stock. Booking traded as high as $4,862.86 and last traded at $4,861.55, with a volume of 123477 shares. The stock had previously closed at $4,776.46.

BKNG has been the subject of a number of other research reports. Oppenheimer boosted their target price on shares of Booking from $5,000.00 to $5,500.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Bank of America upped their price objective on Booking from $4,448.00 to $4,850.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Barclays boosted their target price on Booking from $4,500.00 to $5,100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Wells Fargo & Company upped their price target on Booking from $3,976.00 to $4,173.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Finally, UBS Group raised their price objective on shares of Booking from $5,050.00 to $5,550.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $4,729.14.

Insider Activity at Booking

In other news, insider Paulo Pisano sold 100 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the transaction, the insider now directly owns 3,787 shares of the company’s stock, valued at $14,722,379.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Booking

Several institutional investors have recently modified their holdings of the company. Jamison Private Wealth Management Inc. purchased a new stake in Booking during the third quarter worth $25,000. Grove Bank & Trust boosted its position in shares of Booking by 133.3% in the 2nd quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock worth $28,000 after buying an additional 4 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Booking in the 2nd quarter worth about $28,000. Kings Path Partners LLC acquired a new stake in Booking in the 2nd quarter valued at about $28,000. Finally, West Financial Advisors LLC purchased a new position in Booking during the 3rd quarter valued at about $29,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Booking Price Performance

The company has a market cap of $165.54 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 1.49 and a beta of 1.38. The business’s 50-day simple moving average is $4,199.26 and its 200-day simple moving average is $3,914.68.

Booking Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a dividend of $8.75 per share. The ex-dividend date is Friday, December 6th. This represents a $35.00 annualized dividend and a dividend yield of 0.70%. Booking’s dividend payout ratio is currently 23.75%.

About Booking

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.