Renaissance Technologies LLC acquired a new stake in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,000 shares of the company’s stock, valued at approximately $959,000.
Other large investors also recently made changes to their positions in the company. Invesco Ltd. lifted its stake 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 buying an additional 163,804 shares in the last quarter. Copeland Capital Management LLC lifted its position in shares of Travel + Leisure by 0.8% in the fourth quarter. Copeland Capital Management LLC now owns 1,565,581 shares of the company’s stock worth $78,984,000 after purchasing an additional 12,111 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Travel + Leisure by 15.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company’s stock worth $46,169,000 after purchasing an additional 122,173 shares in the last quarter. Norges Bank purchased a new stake in shares of Travel + Leisure in the fourth quarter worth approximately $45,804,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Travel + Leisure by 5.3% in the fourth quarter. Bank of New York Mellon Corp now owns 905,667 shares of the company’s stock worth $45,691,000 after purchasing an additional 45,447 shares in the last quarter. Institutional investors own 87.54% of the company’s stock.
Insiders Place Their Bets
In other news, Director George Herrera sold 6,336 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value of $296,524.80. Following the completion of the transaction, the director now owns 2,759 shares of the company’s stock, valued at approximately $129,121.20. This represents a 69.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Dean Brown bought 2,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was bought 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. The trade was a 0.49 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.75% of the company’s stock.
Travel + Leisure Stock Performance
Shares of NYSE TNL opened at $43.93 on Thursday. The stock has a 50 day moving average price of $46.69 and a 200 day moving average price of $50.46. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $58.95. The stock has a market capitalization of $2.92 billion, a PE ratio of 7.52, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40.
Travel + Leisure (NYSE:TNL – Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01. The company had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $933.08 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.97 earnings per share. As a group, research analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current year.
Travel + Leisure Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date was Monday, March 17th. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s dividend payout ratio (DPR) is 37.40%.
Wall Street Analyst Weigh In
TNL has been the subject of a number of research analyst reports. Mizuho reissued a “neutral” rating and issued a $64.00 price target (up from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Tigress Financial raised their price objective 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. Truist Financial raised 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 cut their price objective on shares of Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Bank of America raised shares of 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 report on Monday, January 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.20.
Get Our Latest Analysis on Travel + Leisure
About Travel + Leisure
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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