Progressive Investment Management Corp Reduces Stake in Booking Holdings Inc. (NASDAQ:BKNG)

Progressive Investment Management Corp cut its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,262 shares of the business services provider’s stock after selling 52 shares during the period. Booking accounts for 2.9% of Progressive Investment Management Corp’s portfolio, making the stock its 12th biggest position. Progressive Investment Management Corp’s holdings in Booking were worth $11,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Booking during the 4th quarter valued at $25,000. New Wave Wealth Advisors LLC bought a new stake in shares of Booking during the 4th quarter valued at about $25,000. Valley National Advisers Inc. increased its position in shares of Booking by 600.0% during the fourth quarter. Valley National Advisers Inc. now owns 7 shares of the business services provider’s stock valued at $36,000 after buying an additional 6 shares during the period. Promus Capital LLC bought a new position in Booking in the fourth quarter worth about $35,000. Finally, Roxbury Financial LLC purchased a new stake in Booking in the fourth quarter worth about $42,000. Institutional investors own 92.42% of the company’s stock.

Booking Price Performance

BKNG stock opened at $4,634.24 on Friday. Booking Holdings Inc. has a 1 year low of $3,180.00 and a 1 year high of $5,337.24. The company has a market cap of $152.07 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 1.71 and a beta of 1.40. The stock’s fifty day moving average price is $4,779.09 and its 200-day moving average price is $4,727.45.

Booking (NASDAQ:BKNG) last announced its earnings results on Thursday, February 20th. The business services provider reported $41.55 earnings per share (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 for the quarter, compared to analysts’ expectations of $5.18 billion. As a group, analysts expect that Booking Holdings Inc. will post 209.92 earnings per share for the current year.

Booking Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $9.60 per share. This is a boost from Booking’s previous quarterly dividend of $8.75. This represents a $38.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, March 7th. Booking’s dividend payout ratio is currently 22.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JMP Securities reiterated a “market outperform” rating and set a $5,400.00 target price on shares of Booking in a report on Wednesday, December 11th. Erste Group Bank downgraded Booking from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. BMO Capital Markets boosted their target price on shares of Booking from $5,155.00 to $5,900.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Bank of America increased their price target on shares of Booking from $4,850.00 to $5,522.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler reissued a “neutral” rating and set a $5,120.00 price objective (up previously from $4,900.00) on shares of Booking in a research note on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $5,370.43.

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.