Sompo Asset Management Co. Ltd. Reduces Stock Position in Booking Holdings Inc. (NASDAQ:BKNG)

Sompo Asset Management Co. Ltd. lowered its position in Booking Holdings Inc. (NASDAQ:BKNG) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 320 shares of the business services provider’s stock after selling 30 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Booking were worth $1,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Passumpsic Savings Bank increased its position in Booking by 2.6% in the third quarter. Passumpsic Savings Bank now owns 699 shares of the business services provider’s stock worth $2,944,000 after buying an additional 18 shares in the last quarter. Virtu Financial LLC raised its stake in Booking by 268.5% during the 3rd quarter. Virtu Financial LLC now owns 2,410 shares of the business services provider’s stock worth $10,147,000 after acquiring an additional 1,756 shares during the period. World Investment Advisors LLC boosted its position in shares of Booking by 3,561.9% in the third quarter. World Investment Advisors LLC now owns 3,076 shares of the business services provider’s stock worth $12,955,000 after purchasing an additional 2,992 shares during the period. Wilmington Savings Fund Society FSB increased its stake in shares of Booking by 27.6% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,550 shares of the business services provider’s stock worth $6,529,000 after purchasing an additional 335 shares in the last quarter. Finally, Inspire Trust Co. N.A. raised its position in shares of Booking by 404.4% during the 3rd quarter. Inspire Trust Co. N.A. now owns 459 shares of the business services provider’s stock valued at $1,933,000 after purchasing an additional 368 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Booking Stock Up 3.6 %

BKNG opened at $4,598.08 on Wednesday. The stock’s fifty day moving average is $4,669.30 and its two-hundred day moving average is $4,784.40. The company has a market capitalization of $150.89 billion, a P/E ratio of 26.57, 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.

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 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 firm had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.18 billion. Equities analysts anticipate that Booking Holdings Inc. will post 209.92 earnings per share for the current year.

Booking Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BKNG. StockNews.com downgraded shares of Booking from a “buy” rating to a “hold” rating in a report on Thursday, April 10th. Citigroup upped their price target on Booking from $5,500.00 to $5,800.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Royal Bank of Canada upped their target price on shares of Booking from $5,250.00 to $5,900.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Benchmark increased their price objective on shares of Booking from $5,000.00 to $5,900.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, DA Davidson increased their price target on Booking from $5,005.00 to $5,800.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Eleven analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5,278.66.

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.