State of New Jersey Common Pension Fund D Reduces Position in Trip.com Group Limited (NASDAQ:TCOM)

State of New Jersey Common Pension Fund D lowered its stake in Trip.com Group Limited (NASDAQ:TCOM - Free Report) by 15.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,739 shares of the company's stock after selling 28,409 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Trip.com Group were worth $9,077,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in Trip.com Group by 1,188.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,069 shares of the company's stock valued at $50,000 after purchasing an additional 986 shares during the period. Hilltop National Bank grew its position in Trip.com Group by 322.1% during the second quarter. Hilltop National Bank now owns 1,148 shares of the company's stock worth $54,000 after buying an additional 876 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Trip.com Group by 72.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,165 shares of the company's stock worth $55,000 after buying an additional 489 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Trip.com Group in the 2nd quarter worth about $66,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Trip.com Group in the 2nd quarter valued at about $74,000. Hedge funds and other institutional investors own 35.41% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. TD Cowen decreased their price objective on shares of Trip.com Group from $63.00 to $56.00 and set a "buy" rating on the stock in a research report on Tuesday, August 27th. Citigroup raised their price objective on shares of Trip.com Group from $66.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Benchmark reaffirmed a "buy" rating and set a $72.00 price objective on shares of Trip.com Group in a report on Tuesday, August 27th. StockNews.com cut shares of Trip.com Group from a "buy" rating to a "hold" rating in a research note on Tuesday, August 13th. Finally, HSBC lowered shares of Trip.com Group from a "buy" rating to a "hold" rating in a report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $66.89.

Trip.com Group Stock Up 1.8 %

Shares of NASDAQ TCOM traded up $1.20 during trading on Monday, reaching $66.68. The company had a trading volume of 2,170,717 shares, compared to its average volume of 4,052,201. The stock has a market cap of $42.95 billion, a PE ratio of 23.31 and a beta of 0.39. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.15. Trip.com Group Limited has a 12-month low of $31.55 and a 12-month high of $69.67. The business's 50-day moving average is $57.83 and its 200 day moving average is $51.69.

Trip.com Group (NASDAQ:TCOM - Get Free Report) last announced its quarterly earnings results on Monday, August 26th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.22. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. Trip.com Group had a return on equity of 11.52% and a net margin of 28.78%. As a group, equities analysts forecast that Trip.com Group Limited will post 2.93 earnings per share for the current fiscal year.

Trip.com Group Company Profile

Trip.com Group Limited, through its subsidiaries, operates as a travel service provider for accommodation reservation, transportation ticketing, packaged tours and in-destination, corporate travel management, and other travel-related services in China and internationally. The company acts as an agent for hotel-related transactions and selling air tickets, as well as provides train, long-distance bus, and ferry tickets; travel insurance products, such as flight delay, air accident, and baggage loss coverage; and air-ticket delivery, online check-in and seat selection, express security screening, real-time flight status tracker, and airport VIP lounge services.