Bell Asset Management Ltd Lowers Stock Holdings in Booking Holdings Inc. (NASDAQ:BKNG)

Bell Asset Management Ltd cut its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 39.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,327 shares of the business services provider’s stock after selling 863 shares during the quarter. Booking comprises approximately 1.2% of Bell Asset Management Ltd’s portfolio, making the stock its 29th biggest holding. Bell Asset Management Ltd’s holdings in Booking were worth $6,593,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BKNG. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Booking during the 4th quarter worth about $25,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Booking during the fourth quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new position in Booking in the 4th quarter worth $30,000. Valley National Advisers Inc. lifted its stake in shares of Booking by 600.0% in the fourth quarter. Valley National Advisers Inc. now owns 7 shares of the business services provider’s stock worth $36,000 after acquiring an additional 6 shares in the last quarter. Finally, Promus Capital LLC purchased a new position in shares of Booking during the 4th quarter valued at approximately $35,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Booking Price Performance

Shares of BKNG opened at $4,284.02 on Monday. The company has a market capitalization of $140.58 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 1.71 and a beta of 1.37. The business’s 50-day moving average is $4,757.12 and its 200-day moving average is $4,760.24. Booking Holdings Inc. has a fifty-two week low of $3,180.00 and a fifty-two week high of $5,337.24.

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

Booking Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a dividend of $9.60 per share. This is a boost from Booking’s previous quarterly dividend of $8.75. The ex-dividend date was Friday, March 7th. This represents a $38.40 dividend on an annualized basis and a yield of 0.90%. Booking’s dividend payout ratio (DPR) is presently 22.19%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Booking from $5,155.00 to $5,900.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. StockNews.com upgraded Booking from a “hold” rating to a “buy” rating in a research report on Friday, March 28th. JMP Securities reiterated a “market outperform” rating and issued a $5,400.00 price objective on shares of Booking in a report on Wednesday, December 11th. Cantor Fitzgerald upped their target price on Booking from $4,900.00 to $5,540.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Finally, UBS Group lifted their price target on Booking from $5,560.00 to $5,960.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Ten equities 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5,374.90.

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.