Geode Capital Management LLC Decreases Position in Travel + Leisure Co. (NYSE:TNL)

Geode Capital Management LLC lowered its position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,141,320 shares of the company's stock after selling 20,470 shares during the quarter. Geode Capital Management LLC owned approximately 1.67% of Travel + Leisure worth $57,597,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors purchased a new stake in Travel + Leisure in the third quarter worth about $224,000. Stifel Financial Corp boosted its stake in shares of Travel + Leisure by 8.8% during the third quarter. Stifel Financial Corp now owns 109,589 shares of the company's stock valued at $5,050,000 after purchasing an additional 8,819 shares in the last quarter. Barclays PLC increased its holdings in Travel + Leisure by 80.4% during the third quarter. Barclays PLC now owns 225,326 shares of the company's stock valued at $10,383,000 after buying an additional 100,440 shares during the period. Sanctuary Advisors LLC raised its stake in Travel + Leisure by 168.3% in the third quarter. Sanctuary Advisors LLC now owns 16,550 shares of the company's stock worth $763,000 after buying an additional 10,382 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Travel + Leisure by 182.9% during the third quarter. Franklin Resources Inc. now owns 51,216 shares of the company's stock worth $2,337,000 after buying an additional 33,111 shares during the period. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insider Transactions at Travel + Leisure

In related news, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total value of $296,524.80. Following the completion of the transaction, the director now owns 2,759 shares in the company, valued at $129,121.20. The trade was a 69.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Dean Brown acquired 2,000 shares of the company's stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost 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 of the company's stock, valued at $19,070,221.96. This trade represents a 0.49 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.02% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on TNL. Bank of America raised Travel + Leisure from an "underperform" rating to a "buy" rating and boosted their price target for the stock from $40.00 to $60.00 in a research report on Monday, January 27th. The Goldman Sachs Group decreased their price target on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating for the company in a research report on Monday. Tigress Financial lifted their price objective on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Morgan Stanley assumed coverage on shares of Travel + Leisure in a research note on Monday, January 6th. They issued an "overweight" rating and a $67.00 target price for the company. Finally, Mizuho restated a "neutral" rating and set a $64.00 price target (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $62.20.

Travel + Leisure Trading Up 0.9 %

Shares of TNL stock traded up $0.36 during trading hours on Tuesday, hitting $41.80. The company's stock had a trading volume of 729,424 shares, compared to its average volume of 622,280. The stock has a market cap of $2.79 billion, a PE ratio of 7.16, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $58.95. The company has a 50 day moving average of $49.66 and a 200 day moving average of $50.73.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly 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. The company had revenue of $971.00 million for the quarter, compared to the consensus estimate of $958.87 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $1.98 EPS. As a group, analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.36%. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Travel + Leisure's previous quarterly dividend of $0.50. Travel + Leisure's dividend payout ratio is currently 38.36%.

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.