Brandywine Global Investment Management LLC Reduces Stock Position in Travel + Leisure Co. (NYSE:TNL)

Brandywine Global Investment Management LLC trimmed its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 239,480 shares of the company's stock after selling 11,008 shares during the period. Brandywine Global Investment Management LLC owned about 0.35% of Travel + Leisure worth $12,082,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Barclays PLC increased its position in Travel + Leisure by 80.4% during the 3rd quarter. Barclays PLC now owns 225,326 shares of the company's stock valued at $10,383,000 after purchasing an additional 100,440 shares during the period. FMR LLC increased its position in shares of Travel + Leisure by 28.5% during the third quarter. FMR LLC now owns 261,599 shares of the company's stock valued at $12,054,000 after buying an additional 58,008 shares during the period. Oak Thistle LLC purchased a new position in shares of Travel + Leisure during the fourth quarter valued at about $1,288,000. Captrust Financial Advisors bought a new position in Travel + Leisure in the third quarter worth about $224,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Travel + Leisure in the third quarter worth about $1,613,000. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Travel + Leisure Stock Performance

Shares of TNL traded down $1.88 during mid-day trading on Friday, reaching $40.96. The stock had a trading volume of 1,437,568 shares, compared to its average volume of 612,173. The business has a fifty day moving average of $52.17 and a 200 day moving average of $51.02. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 7.01, a PEG ratio of 0.67 and a beta of 1.40. Travel + Leisure Co. has a 12 month low of $39.80 and a 12 month high of $58.95.

Remove Ads

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.04. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The company had revenue of $971.00 million during the quarter, compared to the consensus estimate of $958.87 million. During the same quarter in the prior year, the firm posted $1.98 EPS. Travel + Leisure's quarterly revenue was up 3.9% compared to the same quarter last year. On average, research analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.47%. This is an increase from Travel + Leisure's previous quarterly dividend of $0.50. The ex-dividend date was Monday, March 17th. Travel + Leisure's dividend payout ratio is presently 38.36%.

Insiders Place Their Bets

In related news, Director George Herrera sold 6,336 shares of the firm's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the completion of the transaction, the director now directly owns 2,759 shares of the company's stock, valued at approximately $129,121.20. This trade represents a 69.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Dean Brown purchased 2,000 shares of Travel + Leisure stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the completion of the acquisition, the insider now owns 408,706 shares in the company, valued at $19,070,221.96. The trade was a 0.49 % increase in their position. The disclosure for this purchase can be found here. 4.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Bank of America upgraded Travel + Leisure from an "underperform" rating to a "buy" rating and upped their target price for the stock from $40.00 to $60.00 in a report on Monday, January 27th. The Goldman Sachs Group upped their price target on Travel + Leisure from $49.00 to $59.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Tigress Financial raised their price objective on Travel + Leisure from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Barclays boosted their price objective on shares of Travel + Leisure from $48.00 to $54.00 and gave the stock an "underweight" rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised their price objective on Travel + Leisure from $56.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, Travel + Leisure has an average rating of "Moderate Buy" and a consensus target price of $63.70.

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.