Stifel Financial Corp boosted its position in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,148 shares of the company’s stock after purchasing an additional 8,559 shares during the period. Stifel Financial Corp owned 0.17% of Travel + Leisure worth $5,961,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Travel + Leisure during the 4th quarter valued at about $45,804,000. Invesco Ltd. raised its position in Travel + Leisure by 4.8% during the fourth quarter. Invesco Ltd. now owns 3,544,548 shares of the company’s stock valued at $178,822,000 after acquiring an additional 163,804 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Travel + Leisure by 15.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company’s stock valued at $46,169,000 after acquiring an additional 122,173 shares during the last quarter. Trexquant Investment LP grew its position in Travel + Leisure by 177.5% in the fourth quarter. Trexquant Investment LP now owns 167,888 shares of the company’s stock worth $8,470,000 after acquiring an additional 107,389 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Travel + Leisure by 80.4% during the 3rd quarter. Barclays PLC now owns 225,326 shares of the company’s stock worth $10,383,000 after purchasing an additional 100,440 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.
Insiders Place Their Bets
In other Travel + Leisure news, insider Michael Dean Brown purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $46.66 per share, with a total value of $93,320.00. Following the acquisition, the insider now directly owns 408,706 shares of the company’s stock, valued at approximately $19,070,221.96. This trade represents a 0.49 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director George Herrera sold 6,336 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total value of $296,524.80. Following the sale, the director now owns 2,759 shares in the company, valued at $129,121.20. The trade was a 69.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.75% of the company’s stock.
Travel + Leisure Stock Up 0.5 %
NYSE TNL opened at $44.22 on Wednesday. The stock has a market cap of $2.94 billion, a P/E ratio of 7.57, a PEG ratio of 0.67 and a beta of 1.40. Travel + Leisure Co. has a twelve month low of $37.77 and a twelve month high of $58.95. The company’s 50-day simple moving average is $46.92 and its 200 day simple moving average is $50.51.
Travel + Leisure (NYSE:TNL – Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.10 by $0.01. The business had revenue of $934.00 million for the quarter, compared to analyst estimates of $933.08 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. Travel + Leisure’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.97 EPS. Research analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current year.
Travel + Leisure Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.56 per share. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a yield of 5.07%. The ex-dividend date was Monday, March 17th. Travel + Leisure’s dividend payout ratio (DPR) is currently 37.40%.
Analyst Upgrades and Downgrades
TNL has been the subject of several analyst reports. Morgan Stanley reduced their price objective on shares of Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Mizuho reiterated a “neutral” rating and set a $64.00 price target (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Bank of America raised Travel + Leisure from an “underperform” rating to a “buy” rating and raised their price objective for the company from $40.00 to $60.00 in a research note on Monday, January 27th. Barclays lowered their price target on Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating on the stock in a report on Thursday, April 24th. Finally, Tigress Financial lifted their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.20.
Read Our Latest Stock Report on TNL
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.
Further Reading
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