76,306 Shares in Travel + Leisure Co. (NYSE:TNL) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 76,306 shares of the company's stock, valued at approximately $3,850,000. Raymond James Financial Inc. owned about 0.11% of Travel + Leisure as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in TNL. Copeland Capital Management LLC grew its position in shares of Travel + Leisure by 0.8% during the fourth quarter. Copeland Capital Management LLC now owns 1,565,581 shares of the company's stock worth $78,984,000 after buying an additional 12,111 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Travel + Leisure by 15.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company's stock valued at $46,169,000 after buying an additional 122,173 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Travel + Leisure by 5.3% in the fourth quarter. Bank of New York Mellon Corp now owns 905,667 shares of the company's stock worth $45,691,000 after purchasing an additional 45,447 shares in the last quarter. Loomis Sayles & Co. L P grew its position in Travel + Leisure by 1.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 291,052 shares of the company's stock valued at $13,412,000 after buying an additional 3,841 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Travel + Leisure by 28.5% in the third quarter. FMR LLC now owns 261,599 shares of the company's stock valued at $12,054,000 after acquiring an additional 58,008 shares in the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TNL shares. Barclays boosted their target price on Travel + Leisure from $48.00 to $54.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Mizuho restated a "neutral" rating and issued a $64.00 target price (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Morgan Stanley started coverage on shares of Travel + Leisure in a report on Monday, January 6th. They set an "overweight" rating and a $67.00 price target on the stock. Tigress Financial boosted their target price 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. Finally, Bank of America raised shares of Travel + Leisure from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $40.00 to $60.00 in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $63.70.

Travel + Leisure Trading Down 1.8 %

Travel + Leisure stock traded down $0.84 during trading hours on Friday, reaching $46.40. 632,503 shares of the stock were exchanged, compared to its average volume of 607,173. The stock has a 50 day moving average of $52.99 and a two-hundred day moving average of $50.99. The company has a market cap of $3.09 billion, a P/E ratio of 7.95, a price-to-earnings-growth ratio of 0.67 and a beta of 1.61. Travel + Leisure Co. has a twelve month low of $39.91 and a twelve month 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 analysts' consensus estimates of $1.68 by $0.04. The business had revenue of $971.00 million during the quarter, compared to analysts' expectations of $958.87 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.98 EPS. On average, analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.56 dividend. This is a boost from Travel + Leisure's previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Monday, March 17th. Travel + Leisure's dividend payout ratio (DPR) is currently 38.36%.

Insider Activity

In related news, Director George Herrera sold 6,336 shares of the firm's stock in a transaction dated 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 sale, the director now owns 2,759 shares in the company, 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 filing with the SEC, which is accessible through this link. Also, insider Michael Dean Brown purchased 2,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the completion of the transaction, the insider now owns 408,706 shares of the company's stock, valued at approximately $19,070,221.96. This trade represents a 0.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.02% of the company's stock.

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.