California Public Employees Retirement System reduced its position in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,747 shares of the company’s stock after selling 11,472 shares during the quarter. California Public Employees Retirement System owned 0.18% of Travel + Leisure worth $6,243,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of TNL. Norges Bank acquired a new position in Travel + Leisure during the fourth quarter valued at $45,804,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Travel + Leisure by 15.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company’s stock valued at $46,169,000 after purchasing an additional 122,173 shares during the period. Barclays PLC lifted its position in shares of Travel + Leisure by 80.4% in the third quarter. Barclays PLC now owns 225,326 shares of the company’s stock worth $10,383,000 after purchasing an additional 100,440 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Travel + Leisure during the fourth quarter worth approximately $4,639,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Travel + Leisure by 10.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 814,319 shares of the company’s stock valued at $41,082,000 after purchasing an additional 79,922 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.
Insider Buying and Selling
In other Travel + Leisure news, Director George Herrera sold 6,336 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value of $296,524.80. Following the sale, the director now directly owns 2,759 shares in the company, valued at $129,121.20. This trade represents a 69.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Dean Brown acquired 2,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the acquisition, the insider now owns 408,706 shares in the company, valued at approximately $19,070,221.96. This trade represents a 0.49 % increase in their position. The disclosure for this purchase can be found here. 4.02% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on TNL shares. Truist Financial lifted 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. Barclays boosted their target price on Travel + Leisure from $48.00 to $54.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. The Goldman Sachs Group upped their target price on Travel + Leisure from $49.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Bank of America upgraded Travel + Leisure from an “underperform” rating to a “buy” rating and lifted their price target for the company from $40.00 to $60.00 in a report on Monday, January 27th. Finally, Mizuho restated a “neutral” rating and issued a $64.00 price objective (up previously from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.70.
Check Out Our Latest Research Report on Travel + Leisure
Travel + Leisure Stock Down 3.2 %
Shares of TNL stock opened at $39.59 on Tuesday. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $58.95. The company has a market cap of $2.64 billion, a PE ratio of 6.78, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. The business’s 50 day moving average is $51.87 and its two-hundred day moving average is $51.04.
Travel + Leisure (NYSE:TNL – Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. The business had revenue of $971.00 million for the quarter, compared to analyst estimates of $958.87 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. Travel + Leisure’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $1.98 EPS. As a group, equities analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.
Travel + Leisure Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.66%. Travel + Leisure’s payout ratio is presently 38.36%.
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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