Savoir Faire Capital Management L.P. raised its stake in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 21.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,551 shares of the company’s stock after buying an additional 7,464 shares during the quarter. Savoir Faire Capital Management L.P. owned about 0.06% of Travel + Leisure worth $2,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of TNL. Jones Financial Companies Lllp purchased a new position in Travel + Leisure during the fourth quarter valued at $25,000. Versant Capital Management Inc boosted its holdings in shares of Travel + Leisure by 49.2% during the 4th quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock valued at $32,000 after purchasing an additional 210 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Travel + Leisure by 314.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company’s stock valued at $33,000 after purchasing an additional 503 shares during the last quarter. UMB Bank n.a. grew its position in shares of Travel + Leisure by 36.9% during the fourth quarter. UMB Bank n.a. now owns 757 shares of the company’s stock valued at $38,000 after purchasing an additional 204 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Travel + Leisure by 30.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock worth $39,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 87.54% of the company’s stock.
Insider Activity
In related news, insider Michael Dean Brown acquired 2,000 shares of the stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director George Herrera sold 6,336 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was 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 owns 2,759 shares in the company, valued at $129,121.20. This represents a 69.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.02% of the company’s stock.
Analysts Set New Price Targets
TNL has been the subject of a number of research reports. Morgan Stanley began coverage on Travel + Leisure in a research note on Monday, January 6th. They set an “overweight” rating and a $67.00 price target for the company. Tigress Financial increased their target price on Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. boosted their price target on shares of Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Bank of America upgraded shares of Travel + Leisure from an “underperform” rating to a “buy” rating and increased their price objective for the company from $40.00 to $60.00 in a research report on Monday, January 27th. Finally, Mizuho restated a “neutral” rating and issued a $64.00 target price (up from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. One equities 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 company’s stock. Based on data from MarketBeat, Travel + Leisure has a consensus rating of “Moderate Buy” and an average target price of $63.70.
Check Out Our Latest Stock Analysis on Travel + Leisure
Travel + Leisure Trading Down 10.9 %
Shares of NYSE:TNL opened at $42.82 on Friday. Travel + Leisure Co. has a 12 month low of $39.91 and a 12 month high of $58.95. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 0.67 and a beta of 1.61. The firm’s 50-day moving average is $52.41 and its 200 day moving average is $50.97.
Travel + Leisure (NYSE:TNL – Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.04. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The firm had revenue of $971.00 million for the quarter, compared to the consensus estimate of $958.87 million. During the same period in the prior year, the business posted $1.98 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.
Travel + Leisure Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 5.23%. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, March 17th. Travel + Leisure’s dividend payout ratio (DPR) 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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