Robert W. Baird Initiates Coverage on Booking (NASDAQ:BKNG)

Robert W. Baird began coverage on shares of Booking (NASDAQ:BKNG) in a report issued on Wednesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $5,850.00 price objective on the business services provider’s stock.

A number of other equities analysts have also recently weighed in on the stock. Argus cut shares of Booking from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Wedbush lifted their price objective on Booking from $3,900.00 to $4,750.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Citigroup increased their target price on Booking from $4,100.00 to $5,500.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company raised their target price 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 boosted their price target on shares of Booking from $5,050.00 to $5,550.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4,820.50.

Booking Trading Down 0.4 %

Shares of BKNG opened at $5,201.98 on Wednesday. The firm has a market cap of $172.17 billion, a P/E ratio of 35.30, a price-to-earnings-growth ratio of 1.62 and a beta of 1.38. The company’s 50-day moving average price is $4,599.47 and its 200 day moving average price is $4,089.44. Booking has a 12-month low of $3,079.50 and a 12-month high of $5,237.00.

Booking Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a dividend of $8.75 per share. The ex-dividend date is Friday, December 6th. This represents a $35.00 dividend on an annualized basis and a yield of 0.67%. Booking’s dividend payout ratio is presently 23.75%.

Institutional Investors Weigh In On Booking

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC raised its position in Booking by 342,723.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 233,120 shares of the business services provider’s stock valued at $981,929,000 after purchasing an additional 233,052 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Booking in the third quarter valued at $5,322,600,000. Harvard Management Co. Inc. purchased a new stake in shares of Booking in the third quarter valued at about $155,427,000. 1832 Asset Management L.P. boosted its stake in shares of Booking by 106.0% during the second quarter. 1832 Asset Management L.P. now owns 71,334 shares of the business services provider’s stock worth $282,590,000 after buying an additional 36,710 shares during the period. Finally, AustralianSuper Pty Ltd grew its holdings in shares of Booking by 2,315.8% during the second quarter. AustralianSuper Pty Ltd now owns 36,793 shares of the business services provider’s stock worth $145,755,000 after buying an additional 35,270 shares during the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

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.