Cibc World Markets Corp Increases Stake in Booking Holdings Inc. (NASDAQ:BKNG)

Cibc World Markets Corp boosted its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 10.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,945 shares of the business services provider’s stock after purchasing an additional 561 shares during the period. Cibc World Markets Corp’s holdings in Booking were worth $29,537,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BKNG. Natixis Advisors LLC increased its stake in Booking by 2.7% in the 3rd quarter. Natixis Advisors LLC now owns 15,608 shares of the business services provider’s stock worth $65,743,000 after purchasing an additional 415 shares during the period. Adero Partners LLC purchased a new position in Booking in the 3rd quarter worth approximately $214,000. Claro Advisors LLC increased its stake in shares of Booking by 81.1% during the third quarter. Claro Advisors LLC now owns 163 shares of the business services provider’s stock valued at $687,000 after buying an additional 73 shares during the period. Gilbert & Cook Inc. bought a new position in shares of Booking during the third quarter valued at approximately $206,000. Finally, MAI Capital Management raised its holdings in shares of Booking by 15.4% during the third quarter. MAI Capital Management now owns 12,977 shares of the business services provider’s stock valued at $54,660,000 after acquiring an additional 1,734 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BKNG has been the subject of a number of recent analyst reports. BMO Capital Markets upped their target price on Booking from $5,155.00 to $5,900.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Mizuho upped their target price on Booking from $5,400.00 to $6,000.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Oppenheimer upped their target price on Booking from $5,500.00 to $6,000.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Robert W. Baird initiated coverage on Booking in a report on Wednesday, November 27th. They set an “outperform” rating and a $5,850.00 target price for the company. Finally, Citigroup upped their target price on Booking from $5,500.00 to $5,800.00 and gave the company a “buy” rating in a report on Friday, February 21st. Nine investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5,370.43.

Booking Price Performance

Booking stock opened at $4,465.48 on Monday. Booking Holdings Inc. has a one year low of $3,180.00 and a one year high of $5,337.24. The stock has a market capitalization of $146.53 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 1.71 and a beta of 1.40. The business’s fifty day moving average is $4,816.74 and its 200 day moving average is $4,682.53.

Booking (NASDAQ:BKNG) last released its quarterly earnings data 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. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Booking had a negative return on equity of 159.34% and a net margin of 24.78%. As a group, sell-side analysts expect that Booking Holdings Inc. will post 209.92 EPS for the current fiscal year.

Booking Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $9.60 dividend. This represents a $38.40 annualized dividend and a yield of 0.86%. This is a boost from Booking’s previous quarterly dividend of $8.75. The ex-dividend date of this dividend is Friday, March 7th. Booking’s dividend payout ratio (DPR) is presently 22.19%.

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.