Swedbank AB increased its position in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 12.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 774,499 shares of the company’s stock after buying an additional 88,271 shares during the period. Swedbank AB owned 1.17% of Travel + Leisure worth $39,972,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in TNL. Cetera Investment Advisers raised its position in shares of Travel + Leisure by 22.5% in the 4th quarter. Cetera Investment Advisers now owns 10,472 shares of the company’s stock worth $528,000 after acquiring an additional 1,926 shares in the last quarter. Millennium Management LLC increased its holdings in Travel + Leisure by 167.8% in the fourth quarter. Millennium Management LLC now owns 180,160 shares of the company’s stock worth $9,089,000 after purchasing an additional 112,883 shares in the last quarter. Two Sigma Investments LP increased its holdings in Travel + Leisure by 5.6% in the fourth quarter. Two Sigma Investments LP now owns 21,306 shares of the company’s stock worth $1,075,000 after purchasing an additional 1,133 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in Travel + Leisure in the fourth quarter worth approximately $6,304,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Travel + Leisure by 14.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 273,176 shares of the company’s stock valued at $13,782,000 after acquiring an additional 35,275 shares in the last quarter. 87.54% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
TNL has been the subject of several research analyst reports. JMP Securities lifted their price objective on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a “market outperform” rating in a research note on Thursday, July 24th. Mizuho raised shares of Travel + Leisure from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $63.00 to $72.00 in a research note on Thursday, July 24th. Barclays boosted 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, July 24th. Finally, Wall Street Zen raised Travel + Leisure from a “hold” rating to a “buy” rating in a research report on Saturday. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Travel + Leisure currently has a consensus rating of “Moderate Buy” and an average price target of $62.30.
Read Our Latest Research Report on Travel + Leisure
Travel + Leisure Stock Performance
Shares of TNL opened at $61.00 on Friday. The stock has a 50 day moving average price of $60.67 and a two-hundred day moving average price of $52.41. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $64.11. The firm has a market capitalization of $3.96 billion, a P/E ratio of 10.52, a P/E/G ratio of 0.60 and a beta of 1.44.
Travel + Leisure (NYSE:TNL – Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share (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 company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company posted $1.52 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current year.
Travel + Leisure Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 12th. Travel + Leisure’s dividend payout ratio is presently 38.62%.
Insiders Place Their Bets
In other news, insider Jeffrey Myers sold 110,885 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.33, for a total value of $6,911,462.05. Following the completion of the transaction, the insider directly owned 142,553 shares of the company’s stock, valued at $8,885,328.49. This represents a 43.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Thomas Michael Duncan sold 8,201 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $62.24, for a total value of $510,430.24. Following the completion of the transaction, the chief accounting officer directly owned 20,000 shares of the company’s stock, valued at approximately $1,244,800. This represents a 29.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 320,174 shares of company stock worth $19,765,874 in the last ninety days. 3.75% of the stock is owned by corporate 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.
See Also
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