Redwood Investment Management LLC raised its stake in Travel + Leisure Co. (NYSE:TNL – Free Report) by 11.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 107,713 shares of the company’s stock after purchasing an additional 11,305 shares during the quarter. Travel + Leisure accounts for 0.5% of Redwood Investment Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Redwood Investment Management LLC owned about 0.16% of Travel + Leisure worth $5,434,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Invesco Ltd. grew its position in Travel + Leisure by 4.8% in the 4th 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 during the last quarter. Copeland Capital Management LLC raised its position in Travel + Leisure by 0.8% during the 4th quarter. Copeland Capital Management LLC now owns 1,565,581 shares of the company’s stock worth $78,984,000 after buying an additional 12,111 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Travel + Leisure by 4.3% in the 4th quarter. AQR Capital Management LLC now owns 1,424,035 shares of the company’s stock worth $71,358,000 after acquiring an additional 58,944 shares during the period. Northern Trust Corp boosted its holdings in shares of Travel + Leisure by 9.6% in the fourth quarter. Northern Trust Corp now owns 1,036,703 shares of the company’s stock valued at $52,302,000 after acquiring an additional 90,553 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $46,169,000 after acquiring an additional 122,173 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. 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. Mizuho reissued a “neutral” rating and set a $64.00 target price (up from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Tigress Financial lifted their price target on Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Morgan Stanley dropped their price objective on Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group cut their price objective on Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.20.
Check Out Our Latest Stock Analysis on Travel + Leisure
Travel + Leisure Stock Performance
Shares of TNL stock opened at $51.04 on Thursday. The stock has a fifty day moving average price of $45.30 and a 200 day moving average price of $50.56. The stock has a market cap of $3.39 billion, a PE ratio of 8.74, a P/E/G ratio of 0.67 and a beta of 1.41. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $58.95.
Travel + Leisure (NYSE:TNL – Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01. The business 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 for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.97 earnings per share. As a group, equities research analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current year.
Travel + Leisure Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.56 per share. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend was Monday, March 17th. Travel + Leisure’s dividend payout ratio (DPR) is 37.40%.
Insiders Place Their Bets
In related news, insider Michael Dean Brown purchased 2,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $46.66 per share, with a total value of $93,320.00. Following the completion of the transaction, the insider now owns 408,706 shares of the company’s stock, valued at approximately $19,070,221.96. This represents a 0.49% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Denny Marie Post sold 5,500 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $50.20, for a total value of $276,100.00. Following the completion of the transaction, the director now directly owns 4,477 shares of the company’s stock, valued at approximately $224,745.40. This trade represents a 55.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.75% of the stock is currently owned by company insiders.
Travel + Leisure Company 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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