Travel + Leisure Co. (NYSE:TNL – Get Free Report) announced a quarterly dividend on Wednesday, August 13th, Wall Street Journal reports. Investors of record on Friday, September 12th will be paid a dividend of 0.56 per share on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, September 12th.
Travel + Leisure has a payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Travel + Leisure to earn $7.93 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 28.2%.
Travel + Leisure Stock Performance
NYSE:TNL traded up $1.12 during trading hours on Wednesday, reaching $61.61. The stock had a trading volume of 603,513 shares, compared to its average volume of 700,726. The stock has a market cap of $4.00 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 0.56 and a beta of 1.43. The stock has a 50 day simple moving average of $55.16 and a 200 day simple moving average of $51.21. Travel + Leisure has a 12-month low of $37.77 and a 12-month high of $63.31.
Travel + Leisure (NYSE:TNL – Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. Travel + Leisure’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 EPS. On average, equities analysts expect that Travel + Leisure will post 6.46 earnings per share for the current fiscal year.
Insider Activity at Travel + Leisure
In other news, insider Geoffrey Richards sold 124,454 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $62.56, for a total value of $7,785,842.24. Following the completion of the sale, the insider directly owned 118,718 shares of the company’s stock, valued at $7,426,998.08. This represents a 51.18% 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, CAO Thomas Michael Duncan sold 8,201 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $62.24, for a total transaction of $510,430.24. Following the transaction, the chief accounting officer owned 20,000 shares in the company, valued at approximately $1,244,800. This represents a 29.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 320,174 shares of company stock worth $19,765,874. Company insiders own 3.75% of the company’s stock.
Hedge Funds Weigh In On Travel + Leisure
A number of hedge funds have recently made changes to their positions in TNL. LPL Financial LLC increased its stake in shares of Travel + Leisure by 1.2% in the 4th quarter. LPL Financial LLC now owns 37,983 shares of the company’s stock valued at $1,916,000 after buying an additional 468 shares during the period. Wells Fargo & Company MN increased its position in Travel + Leisure by 18.1% in the fourth quarter. Wells Fargo & Company MN now owns 68,228 shares of the company’s stock worth $3,442,000 after purchasing an additional 10,437 shares during the period. Envestnet Asset Management Inc. increased its position in Travel + Leisure by 4.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 200,787 shares of the company’s stock worth $10,130,000 after purchasing an additional 8,374 shares during the period. Federated Hermes Inc. raised its holdings in Travel + Leisure by 21.0% during the 4th quarter. Federated Hermes Inc. now owns 9,432 shares of the company’s stock worth $476,000 after purchasing an additional 1,637 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in Travel + Leisure by 1.0% during the 4th quarter. Cerity Partners LLC now owns 19,549 shares of the company’s stock valued at $986,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.
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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