Booking (NASDAQ:BKNG) Price Target Increased to $3,976.00 by Analysts at Wells Fargo & Company

Booking (NASDAQ:BKNG) had its target price upped by Wells Fargo & Company from $3,497.00 to $3,976.00 in a report published on Friday, Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

Several other research analysts have also commented on BKNG. Benchmark decreased their price target on shares of Booking from $4,700.00 to $4,600.00 and set a buy rating for the company in a report on Friday. Evercore ISI decreased their price target on shares of Booking from $4,500.00 to $4,200.00 and set an outperform rating for the company in a report on Friday. StockNews.com raised shares of Booking from a hold rating to a buy rating in a report on Thursday, July 18th. Argus lifted their price target on shares of Booking from $4,200.00 to $4,342.00 and gave the company a buy rating in a report on Tuesday, June 4th. Finally, BMO Capital Markets reaffirmed an outperform rating and issued a $4,205.00 price target (up from $4,150.00) on shares of Booking in a report on Friday, May 3rd. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $4,068.32.

Booking Stock Up 1.7 %

Shares of BKNG traded up $55.30 during midday trading on Friday, hitting $3,383.43. The company had a trading volume of 652,781 shares, compared to its average volume of 257,887. The company’s 50 day moving average price is $3,872.03 and its 200 day moving average price is $3,692.09. The stock has a market cap of $114.80 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.09 and a beta of 1.38. Booking has a 52 week low of $2,733.04 and a 52 week high of $4,144.32.

Booking (NASDAQ:BKNG) last released its earnings results on Thursday, August 1st. The business services provider reported $41.90 earnings per share for the quarter, topping the consensus estimate of $39.22 by $2.68. The company had revenue of $5.86 billion during the quarter, compared to the consensus estimate of $5.77 billion. Booking had a net margin of 22.46% and a negative return on equity of 237.46%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $37.62 EPS. Equities analysts anticipate that Booking will post 178.9 EPS for the current fiscal year.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $8.75 per share. This represents a $35.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, September 6th. Booking’s dividend payout ratio (DPR) is presently 26.25%.

Insiders Place Their Bets

In other Booking news, insider Paulo Pisano sold 227 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $3,580.75, for a total value of $812,830.25. Following the completion of the sale, the insider now directly owns 4,233 shares in the company, valued at $15,157,314.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Booking news, insider Paulo Pisano sold 227 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $3,580.75, for a total value of $812,830.25. Following the completion of the sale, the insider now directly owns 4,233 shares in the company, valued at $15,157,314.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Glenn D. Fogel sold 750 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the completion of the transaction, the chief executive officer now directly owns 24,721 shares in the company, valued at $100,556,375.65. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Naples Money Management LLC purchased a new position in Booking in the fourth quarter valued at about $25,000. ICA Group Wealth Management LLC bought a new position in shares of Booking in the 4th quarter worth $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Booking during the 4th quarter valued at $28,000. Bourgeon Capital Management LLC bought a new position in Booking in the 4th quarter worth $28,000. Finally, Grove Bank & Trust increased its stake in shares of Booking by 133.3% in the 2nd quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock worth $28,000 after acquiring an additional 4 shares in the last quarter. 92.42% of the stock is owned by institutional investors.

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.