Kingsview Wealth Management LLC bought a new position in Travel + Leisure Co. (NYSE:TNL – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 53,741 shares of the company’s stock, valued at approximately $2,774,000. Kingsview Wealth Management LLC owned approximately 0.08% of Travel + Leisure at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its holdings in Travel + Leisure by 10.1% in the 1st quarter. Cerity Partners LLC now owns 21,529 shares of the company’s stock worth $997,000 after purchasing an additional 1,980 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Travel + Leisure by 13.4% during the first quarter. New York State Common Retirement Fund now owns 38,099 shares of the company’s stock valued at $1,764,000 after buying an additional 4,500 shares during the last quarter. CWM LLC raised its position in shares of Travel + Leisure by 50.4% during the first quarter. CWM LLC now owns 21,616 shares of the company’s stock valued at $1,001,000 after buying an additional 7,240 shares during the last quarter. Choreo LLC purchased a new position in shares of Travel + Leisure in the first quarter worth $211,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Travel + Leisure by 7.9% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 91,290 shares of the company’s stock worth $4,226,000 after acquiring an additional 6,688 shares during the last quarter. Institutional investors own 87.54% of the company’s stock.
Travel + Leisure Stock Performance
Travel + Leisure stock opened at $61.85 on Wednesday. The company has a market capitalization of $3.98 billion, a PE ratio of 10.17, a P/E/G ratio of 0.55 and a beta of 1.51. The company has a 50 day moving average price of $61.97 and a 200-day moving average price of $57.51. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $70.43.
Travel + Leisure (NYSE:TNL – Get Free Report) last issued its earnings results on Wednesday, October 22nd. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.08. Travel + Leisure had a net margin of 10.36% and a negative return on equity of 49.06%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the business earned $1.57 EPS. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current year.
Travel + Leisure Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, December 12th. Travel + Leisure’s dividend payout ratio is currently 36.84%.
Insiders Place Their Bets
In related news, insider Geoffrey Richards sold 4,992 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $65.00, for a total transaction of $324,480.00. Following the transaction, the insider directly owned 102,129 shares of the company’s stock, valued at $6,638,385. This represents a 4.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Amandine Robin-Caplan sold 1,538 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $65.08, for a total value of $100,093.04. Following the completion of the transaction, the insider owned 3,904 shares of the company’s stock, valued at approximately $254,072.32. The trade was a 28.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 135,692 shares of company stock worth $8,967,762. 3.75% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on TNL shares. The Goldman Sachs Group increased their price target on Travel + Leisure from $61.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Mizuho set a $86.00 target price on Travel + Leisure in a research report on Wednesday, October 22nd. Truist Financial raised their target price on shares of Travel + Leisure from $70.00 to $71.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company assumed coverage on shares of Travel + Leisure in a research note on Tuesday. They set an “overweight” rating and a $74.00 price target on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Travel + Leisure in a research report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.18.
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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