Teacher Retirement System of Texas Raises Stake in Travel + Leisure Co. (NYSE:TNL)

Teacher Retirement System of Texas boosted its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 25.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,102 shares of the company's stock after purchasing an additional 6,663 shares during the quarter. Teacher Retirement System of Texas' holdings in Travel + Leisure were worth $1,670,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC increased its stake in Travel + Leisure by 80.4% in the third quarter. Barclays PLC now owns 225,326 shares of the company's stock valued at $10,383,000 after acquiring an additional 100,440 shares during the period. FMR LLC lifted 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 period. Oak Thistle LLC bought a new position in Travel + Leisure in the fourth quarter valued at approximately $1,288,000. Captrust Financial Advisors acquired a new position in Travel + Leisure during the third quarter valued at approximately $224,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Travel + Leisure during the third quarter worth about $1,613,000. Institutional investors and hedge funds own 87.54% of the company's stock.

Insider Buying and Selling at Travel + Leisure

In related news, insider Michael Dean Brown purchased 2,000 shares of the business's stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $46.66 per share, with a total value of $93,320.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director George Herrera sold 6,336 shares of the stock in a transaction on Tuesday, March 18th. The stock was 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 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 disclosure for this sale can be found here. 4.02% of the stock is owned by company insiders.

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Travel + Leisure Stock Performance

TNL traded down $0.84 on Friday, reaching $46.40. The company had a trading volume of 632,503 shares, compared to its average volume of 607,173. Travel + Leisure Co. has a 52-week low of $39.91 and a 52-week high of $58.95. The business has a 50 day simple moving average of $52.99 and a 200 day simple moving average of $50.92. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 7.95, a P/E/G ratio of 0.67 and a beta of 1.61.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.68 by $0.04. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The business had revenue of $971.00 million for the quarter, compared to analysts' expectations of $958.87 million. During the same period in the previous year, the firm earned $1.98 EPS. The business's quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on TNL shares. JPMorgan Chase & Co. increased their target price on shares of Travel + Leisure from $56.00 to $63.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Tigress Financial boosted their target price on shares of Travel + Leisure from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Truist Financial lifted their price objective on Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a report on Friday, March 7th. Morgan Stanley assumed coverage on Travel + Leisure in a research note on Monday, January 6th. They set an "overweight" rating and a $67.00 target price for the company. Finally, 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 report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.