Booking (NASDAQ:BKNG) Given New $3,860.00 Price Target at JPMorgan Chase & Co.

Booking (NASDAQ:BKNG) had its price target reduced by JPMorgan Chase & Co. from $4,025.00 to $3,860.00 in a research note published on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the business services provider’s stock.

Other equities analysts also recently issued research reports about the company. Erste Group Bank upgraded Booking from a hold rating to a buy rating in a research report on Friday, June 14th. Barclays upped their price target on shares of Booking from $3,800.00 to $4,300.00 and gave the stock an overweight rating in a research report on Thursday, July 11th. Wedbush boosted their target price on shares of Booking from $3,850.00 to $4,200.00 and gave the stock an outperform rating in a research note on Wednesday. Oppenheimer increased their price target on shares of Booking from $4,200.00 to $4,600.00 and gave the company an outperform rating in a research note on Monday, July 22nd. Finally, BMO Capital Markets restated an outperform rating and issued a $4,205.00 price objective (up previously from $4,150.00) on shares of Booking in a research report on Friday, May 3rd. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $4,039.73.

Booking Stock Performance

BKNG opened at $3,328.13 on Friday. The firm has a market cap of $112.92 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 1.09 and a beta of 1.38. The firm’s 50-day simple moving average is $3,872.03 and its 200-day simple moving average is $3,689.37. Booking has a twelve month low of $2,733.04 and a twelve month high of $4,144.32.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data 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. Booking had a net margin of 22.46% and a negative return on equity of 237.46%. The firm had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the prior year, the firm earned $37.62 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Booking will post 178.9 EPS for the current fiscal year.

Booking Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $8.75 dividend. This represents a $35.00 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, September 6th. Booking’s payout ratio is presently 26.25%.

Insider Buying and Selling at Booking

In related news, insider Paulo Pisano sold 227 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $3,580.75, for a total transaction of $812,830.25. Following the completion of the transaction, 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 SEC, which can be accessed through this link. In other news, CEO Glenn D. Fogel sold 750 shares of the stock in a transaction dated 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 approximately $100,556,375.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paulo Pisano sold 227 shares of Booking stock in a transaction dated 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 approximately $15,157,314.75. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Naples Money Management LLC acquired a new stake in shares of Booking in the 4th quarter valued at approximately $25,000. ICA Group Wealth Management LLC bought a new stake in Booking during the fourth quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Booking in the fourth quarter valued at $28,000. Bourgeon Capital Management LLC bought a new position in shares of Booking in the 4th quarter valued at about $28,000. Finally, Grove Bank & Trust increased its stake in shares of Booking by 133.3% during the 2nd quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock worth $28,000 after purchasing an additional 4 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors.

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.