Verdence Capital Advisors Increases Stake in Booking Holdings

Verdence Capital Advisors LLC has increased its investment in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 10.4% during the fourth quarter. According to its recent Form 13F filing with the SEC, the firm now holds 595 shares of the travel services company after acquiring an additional 56 shares during this period. The value of Verdence Capital Advisors LLC's holdings in Booking stands at approximately $2,958,000 as reported in its latest filing.

Institutional Investor Activity

Several other institutional investors and hedge funds have also adjusted their stakes in Booking Holdings. Proficio Capital Partners LLC made a significant move, increasing its holdings by an astounding 621,874.8%, bringing its total to 864,545 shares, which are worth about $4.3 billion after purchasing an additional 864,406 shares. Geode Capital Management LLC increased its stake by 1.4%, now owning 797,116 shares worth around $3.35 billion following a purchase of 11,211 additional shares. Other notable investors include Janus Henderson Group PLC, which raised its stake by 0.5% to own 492,274 shares valued at about $2.07 billion, and Fisher Asset Management LLC, which grew its stake by 3.3% to hold 418,742 shares worth $1.76 billion. UBS Asset Management also added to its position by 4.1%, increasing ownership to 296,599 shares valued at around $1.25 billion. Overall, institutional investors and hedge funds control about 92.42% of Booking Holdings' stock.

Performance of Booking's Stock

As of Wednesday, BKNG shares opened at $4,898.40. The stock has seen a yearly low of $3,180.00 and a high of $5,337.24. Its 50-day simple moving average is $4,891.96, while the 200-day average stands at $4,640.74. With a market capitalization of $160.74 billion, the company has a P/E ratio of 28.31 and a P/E/G ratio of 1.71. Furthermore, its beta is 1.39, indicating a volatility level in relation to the overall market.

Booking's Earnings Report

Booking Holdings recently released its quarterly earnings data on February 20th, where it reported earnings per share (EPS) of $41.55, exceeding analysts' expectations of $35.82 by $5.73. The company generated a revenue of $5.47 billion, surpassing the consensus estimate of $5.18 billion. With a net margin of 24.78%, Booking reported a negative return on equity of 159.34%. Analysts are predicting an average EPS of 209.92 for the current fiscal year.

Dividend Increase Announcement

In addition to its financial performance, Booking Holdings announced a quarterly dividend to be paid on March 31st. Shareholders on record as of March 7th will receive a dividend of $9.60 per share, an increase from the previous dividend of $8.75. This marks an annualized dividend of $38.40, offering a yield of 0.78%. The ex-dividend date is also set for March 7th and the company currently has a payout ratio of 22.19%.

Analysts' Projections for Growth

Booking Holdings has attracted attention from various research analysts. Robert W. Baird initiated coverage with an "outperform" rating and set a price target of $5,850. Cfra upgraded Booking from a "hold" to a "buy" rating, while Barclays raised their price target from $5,100 to $5,600, rating it "overweight." Similarly, JPMorgan increased its target from $5,575 to $5,750 with an "overweight" rating. Royal Bank of Canada also raised its target from $5,250 to $5,900 with an "outperform" rating. Overall, nine analysts consider the stock a hold, while twenty-one suggest buying it, and two have a strong buy rating, resulting in an average rating of "Moderate Buy" with a consensus target price of $5,370.43.

About Booking Holdings

Booking Holdings Inc., formerly known as The Priceline Group Inc., specializes in online travel and restaurant reservation services. It connects consumers intending to make travel reservations with service providers globally, offering various accommodations like hotels, vacation rentals, and more through platforms such as Booking.com, Priceline.com, and Agoda.com.

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