Loomis Sayles & Co. L P Boosts Holdings in Travel + Leisure Co. (NYSE:TNL)

Loomis Sayles & Co. L P raised its stake in Travel + Leisure Co. (NYSE:TNL - Free Report) by 3.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 301,317 shares of the company's stock after purchasing an additional 10,265 shares during the quarter. Loomis Sayles & Co. L P owned 0.44% of Travel + Leisure worth $15,201,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in Travel + Leisure by 21.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company's stock worth $36,540,000 after acquiring an additional 138,153 shares during the last quarter. Cerity Partners LLC purchased a new position in Travel + Leisure during the 3rd quarter valued at about $892,000. FMR LLC raised its position in Travel + Leisure by 28.5% during the 3rd quarter. FMR LLC now owns 261,599 shares of the company's stock valued at $12,054,000 after purchasing an additional 58,008 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Travel + Leisure in the 3rd quarter worth approximately $43,000. Finally, Freedom Investment Management Inc. grew its position in shares of Travel + Leisure by 67.6% in the 3rd quarter. Freedom Investment Management Inc. now owns 9,830 shares of the company's stock worth $453,000 after buying an additional 3,965 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Insiders Place Their Bets

In other Travel + Leisure news, insider Michael Dean Brown purchased 2,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the completion of the purchase, the insider now owns 408,706 shares in the company, valued at $19,070,221.96. This represents a 0.49 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Herrera sold 6,336 shares of the business's 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 sale, 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 disclosure for this sale can be found here. 4.02% of the stock is currently owned by corporate insiders.

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Travel + Leisure Trading Up 2.3 %

Shares of Travel + Leisure stock traded up $1.07 on Wednesday, hitting $47.48. 125,663 shares of the company traded hands, compared to its average volume of 606,145. The stock's 50 day moving average price is $52.73 and its 200-day moving average price is $51.04. The company has a market cap of $3.17 billion, a PE ratio of 8.12, a PEG ratio of 0.67 and a beta of 1.61. Travel + Leisure Co. has a 52 week low of $39.91 and a 52 week high of $58.95.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $958.87 million. During the same period in the prior year, the business earned $1.98 EPS. The firm's quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.56 per share. The ex-dividend date was Monday, March 17th. This represents a $2.24 dividend on an annualized basis and a yield of 4.72%. This is an increase from Travel + Leisure's previous quarterly dividend of $0.50. Travel + Leisure's dividend payout ratio (DPR) is presently 38.36%.

Analysts Set New Price Targets

Several analysts recently weighed in on TNL shares. Bank of America raised shares of Travel + Leisure from an "underperform" rating to a "buy" rating and boosted their price objective for the company from $40.00 to $60.00 in a research report on Monday, January 27th. Mizuho reissued a "neutral" rating and issued a $64.00 price target (up from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Truist Financial raised their price objective on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Tigress Financial increased their price objective on Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Finally, Morgan Stanley started coverage on Travel + Leisure in a research note on Monday, January 6th. They issued an "overweight" rating and a $67.00 price target on the stock. One 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $63.70.

About Travel + Leisure

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.