Teacher Retirement System of Texas reduced its stake in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 19.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,933 shares of the company’s stock after selling 6,007 shares during the quarter. Teacher Retirement System of Texas’ holdings in Travel + Leisure were worth $1,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in TNL. Envestnet Asset Management Inc. grew its holdings in shares of Travel + Leisure by 4.1% in the first quarter. Envestnet Asset Management Inc. now owns 208,929 shares of the company’s stock valued at $9,671,000 after purchasing an additional 8,142 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Travel + Leisure by 53.1% in the first quarter. Crossmark Global Holdings Inc. now owns 68,355 shares of the company’s stock valued at $3,164,000 after purchasing an additional 23,700 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Travel + Leisure by 51.1% in the first quarter. Nisa Investment Advisors LLC now owns 74,798 shares of the company’s stock valued at $3,462,000 after purchasing an additional 25,283 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Travel + Leisure by 10.1% in the first quarter. Cerity Partners LLC now owns 21,529 shares of the company’s stock valued at $997,000 after purchasing an additional 1,980 shares in the last quarter. Finally, Xponance Inc. grew its holdings in shares of Travel + Leisure by 6.8% in the first quarter. Xponance Inc. now owns 8,247 shares of the company’s stock valued at $382,000 after purchasing an additional 527 shares in the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Travel + Leisure
In other news, Director George Herrera sold 2,200 shares of Travel + Leisure stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $60.48, for a total transaction of $133,056.00. Following the completion of the sale, the director directly owned 559 shares in the company, valued at approximately $33,808.32. This trade represents a 79.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kimberly Marshall sold 16,500 shares of Travel + Leisure stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $65.00, for a total value of $1,072,500.00. Following the sale, the insider owned 40,236 shares of the company’s stock, valued at approximately $2,615,340. This trade represents a 29.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 128,344 shares of company stock valued at $8,480,198. 3.75% of the stock is owned by company insiders.
Analysts Set New Price Targets
TNL has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Travel + Leisure from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Citigroup reissued an “outperform” rating on shares of Travel + Leisure in a report on Thursday, October 23rd. Mizuho set a $86.00 target price on shares of Travel + Leisure in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Travel + Leisure in a research note on Wednesday, October 8th. Finally, Barclays lifted their price objective on shares of Travel + Leisure from $54.00 to $63.00 and gave the stock an “underweight” rating in a research note on Thursday, October 23rd. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Travel + Leisure presently has a consensus rating of “Moderate Buy” and an average price target of $69.90.
Get Our Latest Report on Travel + Leisure
Travel + Leisure Stock Up 0.9%
NYSE TNL opened at $63.23 on Thursday. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $70.43. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.55 and a beta of 1.47. The company has a fifty day moving average of $61.91 and a two-hundred day moving average of $56.20.
Travel + Leisure (NYSE:TNL – Get Free Report) last released its earnings results on Wednesday, October 22nd. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.08. Travel + Leisure had a negative return on equity of 49.06% and a net margin of 10.36%.The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company earned $1.57 earnings per share. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current year.
Travel + Leisure Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, September 12th. Travel + Leisure’s dividend payout ratio (DPR) is 36.84%.
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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