Booking (NASDAQ:BKNG) Stock Price Down 4.7% – Here’s Why

Shares of Booking Holdings Inc. (NASDAQ:BKNG) fell 4.7% on Tuesday . The stock traded as low as $4,684.23 and last traded at $4,695.98. 154,858 shares changed hands during trading, a decline of 29% from the average session volume of 217,790 shares. The stock had previously closed at $4,926.80.

Wall Street Analysts Forecast Growth

BKNG has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their target price on shares of Booking from $4,205.00 to $5,155.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Oppenheimer increased their target price on Booking from $5,500.00 to $6,000.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Truist Financial boosted their price target on Booking from $4,100.00 to $4,700.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised their price objective on Booking from $4,900.00 to $5,200.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company decreased their target price on Booking from $4,657.00 to $4,470.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Booking presently has an average rating of “Moderate Buy” and an average target price of $4,997.64.

Booking Stock Performance

The firm has a market cap of $159.48 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 1.59 and a beta of 1.41. The business’s 50 day moving average price is $5,035.32 and its 200-day moving average price is $4,398.27.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th were given a $8.75 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $35.00 annualized dividend and a dividend yield of 0.73%. Booking’s payout ratio is 23.75%.

Institutional Trading of Booking

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of Booking by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 797,116 shares of the business services provider’s stock worth $3,350,605,000 after purchasing an additional 11,211 shares during the last quarter. Janus Henderson Group PLC increased its position in Booking by 0.5% in the third quarter. Janus Henderson Group PLC now owns 492,274 shares of the business services provider’s stock worth $2,073,508,000 after buying an additional 2,321 shares during the period. Fisher Asset Management LLC lifted its stake in Booking by 3.3% in the third quarter. Fisher Asset Management LLC now owns 418,742 shares of the business services provider’s stock valued at $1,763,797,000 after buying an additional 13,429 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Booking by 4.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 296,599 shares of the business services provider’s stock valued at $1,249,311,000 after acquiring an additional 11,649 shares during the period. Finally, Icon Wealth Advisors LLC grew its position in shares of Booking by 342,723.5% during the third quarter. Icon Wealth Advisors LLC now owns 233,120 shares of the business services provider’s stock worth $981,929,000 after acquiring an additional 233,052 shares during the last quarter. Institutional investors own 92.42% of the company’s stock.

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.