Victory Capital Management Inc. lowered its holdings in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 24.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,149 shares of the company’s stock after selling 44,136 shares during the quarter. Victory Capital Management Inc. owned 0.20% of Travel + Leisure worth $6,302,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Natixis acquired a new stake in shares of Travel + Leisure during the fourth quarter worth about $37,000. UMB Bank n.a. raised its position in Travel + Leisure by 54.0% in the 1st quarter. UMB Bank n.a. now owns 1,166 shares of the company’s stock valued at $54,000 after buying an additional 409 shares during the last quarter. Rossby Financial LCC acquired a new stake in Travel + Leisure in the 1st quarter valued at approximately $55,000. Canada Pension Plan Investment Board raised its position in Travel + Leisure by 333.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company’s stock valued at $66,000 after buying an additional 1,000 shares during the last quarter. Finally, Capital Analysts LLC raised its position in Travel + Leisure by 16.8% in the 4th quarter. Capital Analysts LLC now owns 1,576 shares of the company’s stock valued at $80,000 after buying an additional 227 shares during the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.
Wall Street Analysts Forecast Growth
TNL has been the topic of a number of recent research reports. JMP Securities lifted their target price on Travel + Leisure from $60.00 to $70.00 and gave the company a “market outperform” rating in a research report on Thursday. Morgan Stanley dropped their target price on Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen raised Travel + Leisure from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays lifted their target price on Travel + Leisure from $39.00 to $54.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, The Goldman Sachs Group dropped their target price on Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Travel + Leisure has an average rating of “Moderate Buy” and an average price target of $62.30.
Get Our Latest Stock Report on TNL
Insider Activity at Travel + Leisure
In other news, Director Denny Marie Post sold 5,500 shares of Travel + Leisure stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $50.20, for a total transaction of $276,100.00. Following the completion of the transaction, the director directly owned 4,477 shares in the company, valued at approximately $224,745.40. The trade was a 55.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kimberly Marshall sold 16,500 shares of Travel + Leisure stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $60.00, for a total value of $990,000.00. Following the transaction, the insider owned 56,736 shares of the company’s stock, valued at $3,404,160. This represents a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 199,020 shares of company stock worth $12,123,076 in the last three months. 3.75% of the stock is owned by company insiders.
Travel + Leisure Stock Up 2.2%
NYSE:TNL opened at $63.07 on Friday. Travel + Leisure Co. has a twelve month low of $37.77 and a twelve month high of $63.28. The stock’s 50 day moving average price is $52.47 and its two-hundred day moving average price is $50.56. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 0.59 and a beta of 1.38.
Travel + Leisure (NYSE:TNL – Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm posted $1.52 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current year.
Travel + Leisure Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a dividend of $0.56 per share. The ex-dividend date was Friday, June 13th. This represents a $2.24 annualized dividend and a dividend yield of 3.55%. Travel + Leisure’s dividend payout ratio is currently 37.40%.
Travel + Leisure Company 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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