Which Premium-Priced Stocks Could Execute a Stock Split? Analyzing Three Candidates

When investors hear that a company is planning a stock split, it often generates excitement in the market. The psychology is straightforward: a lower share price can feel more approachable to retail investors, even though the split itself doesn’t change the underlying value. The real question is which high-priced stocks might make this move next. Three U.S.-listed companies stand out with exceptionally high share prices: Booking Holdings, NVR, and Seaboard. Of these, only one realistically appears positioned to announce a stock split in the near term.

The Stock Split Appeal: Why Companies Choose to Divide

A stock split is fundamentally a mechanical adjustment—the share count increases while the share price adjusts proportionally, leaving the total market value unchanged. Yet this zero-sum game consistently drives investor interest. When companies declare a stock split, their shares tend to experience price appreciation, whether driven by genuine business improvements or simply by broadening appeal to retail investors who find fractional shares less convenient than owning round lots. Some brokers now offer fractional share purchases, but a traditional split still creates psychological appeal by making the stock “look” more affordable.

Booking Holdings: The Most Likely Candidate for a Stock Split

Among the three, Booking Holdings emerges as the strongest prospect for executing a stock split. The online travel platform—which operates Priceline, Kayak, and the namesake booking website—already has split history, though it came in an unusual form. Back in 2003, Booking conducted a reverse stock split when the company was trading as a penny stock in the aftermath of the dot-com bubble implosion. Now, two decades later, a forward stock split could restore accessibility to its shares.

What makes Booking stand out is its direct appeal to individual investors. This is the most consumer-facing of the three businesses, making it more likely to prioritize retail investor accessibility. With shares trading at levels that exceed most investors’ comfort zones for round-lot purchases, a stock split would align with Booking’s market positioning. The company’s history of reshaping its capital structure suggests management isn’t ideologically opposed to such moves.

NVR and Seaboard: The Contrasts in Split Philosophy

NVR’s Commitment to Premium Pricing

NVR, the homebuilder, trades at roughly $7,762 per share—the second-highest price point among U.S. exchange-listed companies, trailing only Berkshire Hathaway. Yet NVR appears steadfastly resistant to a stock split. The company has cultivated an asset-light business model with an impressive long-term track record of market outperformance. Equally impressive is its consistent refusal to employ stock splits or dividends to artificially reduce share prices. This philosophy appears unlikely to shift anytime soon. Investors seeking lower-priced alternatives can access Berkshire Hathaway through its Class B shares, but NVR offers no such compromise.

Seaboard’s Volatile Operations Challenge Split Plans

Seaboard presents a different case entirely. Operating across pork production, grain processing, and maritime shipping, Seaboard’s business is inherently volatile—delivering feast-or-famine results. The company posted double-digit revenue growth in three of the past five years while experiencing negative revenue in the other two years. This volatility creates a fundamental problem for a stock split strategy. A split announced after a strong financial year could backfire dramatically if business conditions deteriorate, leaving shareholders holding lower-priced shares during a downturn. Without the growth-stock positioning that typically justifies a split, Seaboard lacks compelling reasons to restructure its capital in this manner.

The Real Investment Takeaway

The decision of whether to announce a stock split reveals much about a company’s philosophy and circumstances. Booking Holdings, with its consumer focus and historical flexibility on capital structure, stands as the realistic candidate. NVR’s long-standing resistance reflects management confidence in its business model and deliberate positioning for institutional investors. Seaboard’s operational volatility makes such a move strategically problematic.

For investors weighing these companies, remember that a stock split is more about perception and retail accessibility than fundamental value creation. The real investment focus should remain on business quality, management track records, and long-term earning potential rather than capital structure mechanics.