Robert W. Baird Initiates Coverage of Booking Holdings

On November 28, 2024, Robert W. Baird began coverage of Booking Holdings (NASDAQ:BKNG) in a research note intended for investors. The firm has given the stock an outperform rating and set a target price of $5,850.00 for the business services provider.

Several other research analysts have also recently issued their opinions on Booking shares. JMP Securities raised their price target from $5,000.00 to $5,400.00 and rated the stock as a "market outperform" on November 1. UBS Group also increased their target price, moving it from $5,050.00 to $5,550.00, and assigned a "buy" rating on October 31. Citigroup similarly moved their target from $4,100.00 to $5,500.00, rating it as a "buy" on November 4. Oppenheimer joined the group by raising their target price from $5,000.00 to $5,500.00, while giving it an "outperform" rating on October 31. Conversely, Evercore ISI adjusted their price target down from $4,500.00 to $4,200.00, but still maintained an “outperform” rating.

In total, out of several research analysts, ten have issued a hold rating for the stock, while twenty-three have rated it as a buy and one has given it a strong buy rating. MarketBeat.com reports that Booking is now holding a consensus rating of “Moderate Buy,” with an average target price of $4,820.50.

Booking's Stock Performance

As of November 28, 2024, shares of NASDAQ:BKNG opened at $5,223.15. The company has a market capitalization of $172.89 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 1.59, and a beta of 1.38. Booking has experienced a 12-month low of $3,079.50 and a high of $5,237.00. Currently, the stock has a 50-day moving average price of $4,552.59 and a 200-day moving average price of $4,071.32.

Dividend Announcement by Booking

Recently, Booking announced a quarterly dividend to be paid on December 31, 2024. Shareholders on record by December 6, 2024, will receive a dividend of $8.75 per share, totaling $35.00 when annualized, resulting in a yield of 0.67%. The ex-dividend date for this payment is also December 6, and Booking has a dividend payout ratio of 23.75%.

Institutional Activities

In terms of institutional investment, various hedge funds and investors have been buying and selling shares of Booking. For instance, Jamison Private Wealth Management Inc. acquired a new position in the third quarter, investing $25,000. Grove Bank & Trust increased its stake by 133.3% in the second quarter, now holding shares valued at $28,000 after acquiring additional stock. POM Investment Strategies LLC and Kings Path Partners LLC each spent about $28,000 on new positions during the second quarter, while West Financial Advisors LLC bought in during the third quarter for roughly $29,000. Notably, institutional investors and hedge funds now own 92.42% of Booking's stock.

About Booking Holdings

Booking Holdings Inc, previously known as The Priceline Group Inc, is a leading provider of online reservation and related services for travel and restaurants. Through its various online travel platforms, the company connects consumers looking for travel reservations with service providers worldwide. Booking offers a wide array of accommodation options, including hotels, bed and breakfasts, hostels, apartments, vacation rentals, and more via its brands such as Booking.com, priceline.com, and agoda.com.

Booking, Baird, Investment