State of Michigan Retirement System Has $44.51 Million Stock Holdings in Booking Holdings Inc. (NASDAQ:BKNG)

State of Michigan Retirement System reduced its position in Booking Holdings Inc. (NASDAQ:BKNG) by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,959 shares of the business services provider’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in Booking were worth $44,512,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Booking in the fourth quarter valued at approximately $25,000. New Wave Wealth Advisors LLC bought a new stake in Booking in the 4th quarter valued at $25,000. Valley National Advisers Inc. lifted its holdings in Booking by 600.0% during the 4th quarter. Valley National Advisers Inc. now owns 7 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 6 shares during the last quarter. Roxbury Financial LLC bought a new position in Booking during the fourth quarter worth $42,000. Finally, Addison Advisors LLC increased its holdings in shares of Booking by 80.0% in the third quarter. Addison Advisors LLC now owns 9 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 4 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on BKNG. DA Davidson raised their target price on shares of Booking from $5,005.00 to $5,800.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Baird R W upgraded Booking to a “strong-buy” rating in a report on Wednesday, November 27th. B. Riley upped their target price on Booking from $5,700.00 to $6,000.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Truist Financial lifted their price target on Booking from $4,100.00 to $4,700.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Finally, Tigress Financial upped their price objective on Booking from $4,580.00 to $5,600.00 and gave the company a “strong-buy” rating in a report on Monday, November 18th. Nine research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5,370.43.

Booking Price Performance

Shares of NASDAQ:BKNG opened at $4,946.15 on Tuesday. Booking Holdings Inc. has a one year low of $3,180.00 and a one year high of $5,337.24. The company has a market cap of $162.31 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 1.71 and a beta of 1.39. The firm has a 50 day simple moving average of $4,896.45 and a 200 day simple moving average of $4,631.73.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, beating analysts’ consensus estimates of $35.82 by $5.73. Booking had a negative return on equity of 159.34% and a net margin of 24.78%. The company had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.18 billion. As a group, analysts expect that Booking Holdings Inc. will post 209.92 EPS for the current year.

Booking Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $9.60 per share. This is a boost from Booking’s previous quarterly dividend of $8.75. This represents a $38.40 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, March 7th. Booking’s payout ratio is 22.19%.

Booking Company Profile

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.