Savoir Faire Capital Management L.P. decreased its holdings in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 68.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,953 shares of the company’s stock after selling 28,598 shares during the quarter. Savoir Faire Capital Management L.P.’s holdings in Travel + Leisure were worth $600,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Invesco Ltd. increased its holdings in shares of Travel + Leisure by 4.8% during the fourth quarter. Invesco Ltd. now owns 3,544,548 shares of the company’s stock worth $178,822,000 after buying an additional 163,804 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Travel + Leisure by 4.3% in the fourth quarter. AQR Capital Management LLC now owns 1,424,035 shares of the company’s stock valued at $71,358,000 after purchasing an additional 58,944 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Travel + Leisure by 9.6% during the fourth quarter. Northern Trust Corp now owns 1,036,703 shares of the company’s stock worth $52,302,000 after acquiring an additional 90,553 shares during the period. Norges Bank acquired a new position in Travel + Leisure in the 4th quarter valued at $45,804,000. Finally, Nuveen Asset Management LLC boosted its holdings in Travel + Leisure by 25.1% in the 4th quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company’s stock valued at $45,299,000 after purchasing an additional 180,059 shares during the period. 87.54% of the stock is owned by hedge funds and other institutional investors.
Travel + Leisure Stock Performance
NYSE:TNL traded up $0.58 during midday trading on Friday, reaching $57.17. 705,903 shares of the stock traded hands, compared to its average volume of 649,005. The company has a fifty day moving average of $51.53 and a 200 day moving average of $50.22. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $58.95. The stock has a market capitalization of $3.80 billion, a P/E ratio of 9.54, a PEG ratio of 0.55 and a beta of 1.38.
Travel + Leisure (NYSE:TNL – Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.01. Travel + Leisure had a negative return on equity of 46.83% and a net margin of 10.77%. The firm had revenue of $934.00 million for the quarter, compared to analysts’ expectations of $933.08 million. During the same period in the previous year, the firm posted $0.97 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.
Travel + Leisure Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date was Friday, June 13th. Travel + Leisure’s payout ratio is 37.40%.
Analyst Ratings Changes
Several research analysts recently issued reports on TNL shares. The Goldman Sachs Group lowered their target price 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. Morgan Stanley decreased their target price on Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, Barclays reduced their price objective on shares of Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating for the company in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.20.
View Our Latest Research Report on Travel + Leisure
Insider Buying and Selling
In other Travel + Leisure news, Director Denny Marie Post sold 5,500 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $50.20, for a total transaction of $276,100.00. Following the sale, the director directly owned 4,477 shares of the company’s stock, valued at $224,745.40. This trade represents a 55.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Myers sold 13,922 shares of Travel + Leisure stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $58.00, for a total transaction of $807,476.00. Following the sale, the insider owned 165,890 shares in the company, valued at approximately $9,621,620. The trade was a 7.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,285 shares of company stock valued at $1,474,767. 3.75% of the stock is currently owned by corporate 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.
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