Geode Capital Management LLC cut its stake in Travel + Leisure Co. (NYSE:TNL – Free Report) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,197,795 shares of the company’s stock after selling 10,212 shares during the quarter. Geode Capital Management LLC owned approximately 1.85% of Travel + Leisure worth $61,826,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of TNL. Parkside Financial Bank & Trust raised its holdings in shares of Travel + Leisure by 155.3% during the second quarter. Parkside Financial Bank & Trust now owns 628 shares of the company’s stock valued at $32,000 after acquiring an additional 382 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Travel + Leisure during the first quarter worth approximately $30,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Travel + Leisure during the second quarter worth approximately $45,000. Geneos Wealth Management Inc. raised its stake in Travel + Leisure by 293.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock valued at $44,000 after purchasing an additional 715 shares during the last quarter. Finally, True Wealth Design LLC lifted its holdings in Travel + Leisure by 119.9% in the 2nd quarter. True Wealth Design LLC now owns 1,148 shares of the company’s stock valued at $59,000 after purchasing an additional 626 shares in the last quarter. 87.54% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Travel + Leisure news, insider Jeffrey Myers sold 50,000 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $66.38, for a total transaction of $3,319,000.00. Following the completion of the sale, the insider owned 63,789 shares of the company’s stock, valued at $4,234,313.82. This trade represents a 43.94% 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 Geoffrey Richards sold 26,838 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $66.06, for a total value of $1,772,918.28. Following the completion of the transaction, the insider directly owned 112,777 shares in the company, valued at approximately $7,450,048.62. This trade represents a 19.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 135,692 shares of company stock valued at $8,967,762. 3.75% of the stock is currently owned by insiders.
Travel + Leisure Trading Up 5.5%
Shares of TNL opened at $64.74 on Monday. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $70.43. The firm has a market capitalization of $4.16 billion, a P/E ratio of 10.65, a P/E/G ratio of 0.55 and a beta of 1.51. The firm has a 50-day moving average price of $62.00 and a 200 day moving average price of $57.85.
Travel + Leisure (NYSE:TNL – Get Free Report) last issued its earnings results on Wednesday, October 22nd. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.08. Travel + Leisure had a net margin of 10.36% and a negative return on equity of 49.06%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm earned $1.57 earnings per share. Travel + Leisure’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.
Travel + Leisure Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 12th will be issued a $0.56 dividend. The ex-dividend date is Friday, December 12th. This represents a $2.24 dividend on an annualized basis and a yield of 3.5%. Travel + Leisure’s dividend payout ratio is currently 36.84%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. JMP Securities lifted their target price on shares of Travel + Leisure from $70.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 23rd. Mizuho set a $86.00 price target on shares of Travel + Leisure in a research note on Wednesday, October 22nd. Truist Financial boosted their price target on shares of Travel + Leisure from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Citigroup reiterated an “outperform” rating on shares of Travel + Leisure in a report on Thursday, October 23rd. Finally, Barclays raised their target price 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. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.18.
View Our Latest Stock Analysis on TNL
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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