Raymond James Financial Inc. bought a new stake in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 76,306 shares of the company’s stock, valued at approximately $3,850,000. Raymond James Financial Inc. owned about 0.11% of Travel + Leisure as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in Travel + Leisure by 21.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company’s stock valued at $36,540,000 after acquiring an additional 138,153 shares in the last quarter. Cerity Partners LLC purchased a new position in Travel + Leisure during the third quarter valued at $892,000. Loomis Sayles & Co. L P lifted its position in Travel + Leisure by 1.3% during the third quarter. Loomis Sayles & Co. L P now owns 291,052 shares of the company’s stock valued at $13,412,000 after buying an additional 3,841 shares during the period. FMR LLC boosted its position in shares of Travel + Leisure by 28.5% in the 3rd quarter. FMR LLC now owns 261,599 shares of the company’s stock worth $12,054,000 after purchasing an additional 58,008 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Travel + Leisure during the third quarter valued at $43,000. Institutional investors own 87.54% of the company’s stock.
Analysts Set New Price Targets
TNL has been the topic of a number of research analyst reports. Bank of America raised Travel + Leisure from an “underperform” rating to a “buy” rating and upped their price target for the company from $40.00 to $60.00 in a report on Monday, January 27th. The Goldman Sachs Group raised their price target on Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Truist Financial increased their price objective on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Morgan Stanley started coverage on Travel + Leisure in a research report on Monday, January 6th. They set an “overweight” rating and a $67.00 target price for the company. Finally, Tigress Financial increased their target price on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Travel + Leisure presently has an average rating of “Moderate Buy” and a consensus target price of $63.70.
Check Out Our Latest Research Report on Travel + Leisure
Insider Buying and Selling
In other news, insider Michael Dean Brown purchased 2,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the completion of the transaction, the insider now directly owns 408,706 shares in the company, valued at approximately $19,070,221.96. This represents a 0.49 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George Herrera sold 6,336 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the completion of the transaction, the director now directly owns 2,759 shares of the company’s stock, valued at approximately $129,121.20. The trade was a 69.66 % decrease in their position. The disclosure for this sale can be found here. 4.02% of the stock is owned by company insiders.
Travel + Leisure Price Performance
Shares of TNL stock opened at $47.95 on Thursday. Travel + Leisure Co. has a 1 year low of $39.91 and a 1 year high of $58.95. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 0.67 and a beta of 1.61. The business has a fifty day moving average of $53.20 and a 200 day moving average of $50.85.
Travel + Leisure (NYSE:TNL – Get Free Report) last announced its quarterly 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 company had revenue of $971.00 million during the quarter, compared to the consensus estimate of $958.87 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. Travel + Leisure’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 earnings per share. As a group, equities research analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.
Travel + Leisure Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Monday, March 17th. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s dividend payout ratio is 38.36%.
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.
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