Thrivent Financial for Lutherans Reduces Holdings in Travel + Leisure Co. (NYSE:TNL)

Thrivent Financial for Lutherans lowered its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 22.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,673 shares of the company's stock after selling 16,670 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Travel + Leisure worth $2,859,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Travel + Leisure by 21.1% during 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 in the last quarter. Barclays PLC boosted its holdings 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 purchasing an additional 100,440 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Travel + Leisure in the fourth quarter valued at approximately $4,639,000. Raymond James Financial Inc. purchased a new position in Travel + Leisure in the fourth quarter valued at approximately $3,850,000. Finally, Great Lakes Advisors LLC raised its holdings in Travel + Leisure by 31.5% during the fourth quarter. Great Lakes Advisors LLC now owns 313,768 shares of the company's stock worth $15,830,000 after purchasing an additional 75,075 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Tigress Financial increased 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 raised their price objective on Travel + Leisure from $61.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Morgan Stanley began coverage on Travel + Leisure in a research report on Monday, January 6th. They set an "overweight" rating and a $67.00 target price on the stock. The Goldman Sachs Group upped their target price on Travel + Leisure from $49.00 to $59.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. boosted their price objective on Travel + Leisure from $56.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. One research 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $63.70.

Remove Ads

Travel + Leisure Price Performance

Shares of NYSE:TNL traded down $0.84 during trading on Friday, reaching $46.40. The company had a trading volume of 632,503 shares, compared to its average volume of 607,173. The stock's fifty day moving average price is $52.99 and its 200 day moving average price is $50.92. Travel + Leisure Co. has a fifty-two week low of $39.91 and a fifty-two week high of $58.95. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 0.67 and a beta of 1.61.

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

Travel + Leisure Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date is Monday, March 17th. This is a positive change from Travel + Leisure's previous quarterly dividend of $0.50. Travel + Leisure's payout ratio is currently 38.36%.

Insider Transactions at Travel + Leisure

In related news, insider Michael Dean Brown purchased 2,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $46.66 per share, with a total value of $93,320.00. Following the purchase, the insider now directly owns 408,706 shares in the company, valued at $19,070,221.96. This trade represents a 0.49 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director George Herrera sold 6,336 shares of the 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 transaction, the director now owns 2,759 shares of the company's stock, valued at $129,121.20. This represents a 69.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.02% of the company's stock.

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.