Infusive Asset Management Inc. Sells 270 Shares of Booking Holdings Inc. (NASDAQ:BKNG)

Infusive Asset Management Inc. reduced its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 22.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 926 shares of the business services provider’s stock after selling 270 shares during the period. Booking comprises about 2.0% of Infusive Asset Management Inc.’s investment portfolio, making the stock its 22nd biggest position. Infusive Asset Management Inc.’s holdings in Booking were worth $4,601,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BKNG. Covestor Ltd raised its holdings in shares of Booking by 6.9% in the fourth quarter. Covestor Ltd now owns 31 shares of the business services provider’s stock valued at $158,000 after buying an additional 2 shares during the last quarter. SageView Advisory Group LLC grew its stake in shares of Booking by 1.6% during the fourth quarter. SageView Advisory Group LLC now owns 124 shares of the business services provider’s stock valued at $616,000 after purchasing an additional 2 shares during the last quarter. Belpointe Asset Management LLC raised its position in Booking by 2.2% in the 4th quarter. Belpointe Asset Management LLC now owns 95 shares of the business services provider’s stock worth $472,000 after purchasing an additional 2 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its holdings in Booking by 7.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 46 shares of the business services provider’s stock worth $229,000 after buying an additional 3 shares in the last quarter. Finally, Marcum Wealth LLC raised its position in shares of Booking by 3.5% during the fourth quarter. Marcum Wealth LLC now owns 89 shares of the business services provider’s stock worth $443,000 after acquiring an additional 3 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors.

Booking Stock Performance

Shares of BKNG stock opened at $4,573.31 on Friday. The company has a market capitalization of $150.07 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 1.71 and a beta of 1.37. Booking Holdings Inc. has a 52 week low of $3,180.00 and a 52 week high of $5,337.24. The company has a 50-day simple moving average of $4,695.61 and a 200 day simple moving average of $4,771.47.

Booking (NASDAQ:BKNG) last posted its earnings results on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.18 billion. Sell-side analysts forecast that Booking Holdings Inc. will post 209.92 EPS for the current year.

Booking Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a $9.60 dividend. The ex-dividend date was Friday, March 7th. This is a boost from Booking’s previous quarterly dividend of $8.75. This represents a $38.40 annualized dividend and a yield of 0.84%. Booking’s payout ratio is currently 22.19%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Booking from $5,750.00 to $4,850.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Wedbush increased their price target on Booking from $5,000.00 to $5,500.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Mizuho upped their price objective on Booking from $5,400.00 to $6,000.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. BMO Capital Markets raised their target price on Booking from $5,155.00 to $5,900.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Finally, Royal Bank of Canada upped their price target on Booking from $5,250.00 to $5,900.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5,278.66.

Booking 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.