Bank of America Corp DE reduced its holdings in Travel + Leisure Co. (NYSE:TNL – Free Report) by 41.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,121 shares of the company’s stock after selling 66,095 shares during the period. Bank of America Corp DE owned about 0.14% of Travel + Leisure worth $4,748,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in shares of Travel + Leisure in the 4th quarter valued at $2,684,000. Ameriprise Financial Inc. lifted its stake in shares of Travel + Leisure by 1.8% in the 4th quarter. Ameriprise Financial Inc. now owns 327,217 shares of the company’s stock valued at $16,508,000 after purchasing an additional 5,764 shares during the period. Algert Global LLC lifted its stake in shares of Travel + Leisure by 12.4% in the 4th quarter. Algert Global LLC now owns 358,959 shares of the company’s stock valued at $18,109,000 after purchasing an additional 39,680 shares during the period. AXA S.A. lifted its stake in shares of Travel + Leisure by 48.9% in the 4th quarter. AXA S.A. now owns 131,567 shares of the company’s stock valued at $6,638,000 after purchasing an additional 43,215 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Travel + Leisure by 4.3% in the 4th quarter. AQR Capital Management LLC now owns 1,424,035 shares of the company’s stock valued at $71,358,000 after purchasing an additional 58,944 shares during the period. 87.54% of the stock is owned by hedge funds and other institutional investors.
Travel + Leisure Stock Down 1.1%
Shares of NYSE TNL opened at $48.44 on Thursday. The firm has a 50-day simple moving average of $45.52 and a 200-day simple moving average of $50.49. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 8.29, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $58.95.
Travel + Leisure (NYSE:TNL – Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The firm had revenue of $934.00 million during the quarter, compared to analyst estimates of $933.08 million. During the same quarter in the prior year, the firm posted $0.97 earnings per share. Travel + Leisure’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current year.
Travel + Leisure Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend is Friday, June 13th. Travel + Leisure’s dividend payout ratio is currently 37.40%.
Analyst Upgrades and Downgrades
TNL has been the subject of several analyst reports. Truist Financial boosted their target price on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Mizuho reiterated a “neutral” rating and issued a $64.00 target price (up from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. The Goldman Sachs Group decreased their target price on shares of Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Tigress Financial upped their price objective on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, Barclays reduced their price objective on shares of Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.20.
View Our Latest Stock Analysis on TNL
Insider Activity at Travel + Leisure
In related news, insider Michael Dean Brown bought 2,000 shares of the stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $46.66 per share, with a total value of $93,320.00. Following the completion of the purchase, the insider now directly owns 408,706 shares in the company, valued at $19,070,221.96. This represents a 0.49% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director George Herrera sold 6,336 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total transaction of $296,524.80. Following the transaction, the director now directly owns 2,759 shares of the company’s stock, valued at approximately $129,121.20. This trade represents a 69.66% decrease in their position. The disclosure for this sale can be found here. 3.75% of the stock is currently owned by insiders.
Travel + Leisure Profile
Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.
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