Nelson Capital Management LLC Reduces Position in Booking Holdings Inc. (NASDAQ:BKNG)

Nelson Capital Management LLC decreased its position in Booking Holdings Inc. (NASDAQ:BKNG) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,111 shares of the business services provider’s stock after selling 7 shares during the period. Booking comprises approximately 0.9% of Nelson Capital Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Nelson Capital Management LLC’s holdings in Booking were worth $5,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC boosted its holdings in Booking by 4.3% in the fourth quarter. Lake Street Advisors Group LLC now owns 313 shares of the business services provider’s stock valued at $1,555,000 after purchasing an additional 13 shares during the last quarter. Kirtland Hills Capital Management LLC grew its position in shares of Booking by 3.6% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 204 shares of the business services provider’s stock valued at $1,014,000 after acquiring an additional 7 shares during the period. Birinyi Associates Inc. raised its holdings in Booking by 2.2% in the 4th quarter. Birinyi Associates Inc. now owns 2,351 shares of the business services provider’s stock worth $11,681,000 after purchasing an additional 51 shares during the period. Longbow Finance SA purchased a new position in Booking during the fourth quarter worth approximately $14,418,000. Finally, Illinois Municipal Retirement Fund grew its holdings in Booking by 6.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 4,739 shares of the business services provider’s stock valued at $23,545,000 after purchasing an additional 296 shares during the period. Institutional investors and hedge funds own 92.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BKNG shares. Truist Financial lifted their price target on shares of Booking from $4,100.00 to $4,700.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Booking from $4,900.00 to $5,200.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Oppenheimer raised their price target on shares of Booking from $5,500.00 to $6,000.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Robert W. Baird began coverage on Booking in a research note on Wednesday, November 27th. They set an “outperform” rating and a $5,850.00 price objective for the company. Finally, Cantor Fitzgerald raised their target price on Booking from $4,900.00 to $5,540.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Booking currently has an average rating of “Moderate Buy” and a consensus target price of $5,370.43.

Booking Stock Down 0.3 %

Shares of BKNG stock opened at $5,033.83 on Wednesday. Booking Holdings Inc. has a 52-week low of $3,180.00 and a 52-week high of $5,337.24. The stock’s 50-day moving average price is $4,898.86 and its 200 day moving average price is $4,591.58. The stock has a market capitalization of $165.16 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 1.71 and a beta of 1.39.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, topping 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 business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Analysts expect that Booking Holdings Inc. will post 209.92 earnings per share for the current fiscal year.

Booking Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $9.60 dividend. This represents a $38.40 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Booking’s previous quarterly dividend of $8.75. Booking’s payout ratio is currently 20.23%.

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.