Bridgewater Associates LP Trims Stake in Travel + Leisure Co. (NYSE:TNL)

Bridgewater Associates LP reduced its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 21.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,567 shares of the company's stock after selling 10,553 shares during the period. Bridgewater Associates LP owned 0.06% of Travel + Leisure worth $1,823,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TNL. Copeland Capital Management LLC boosted its holdings in Travel + Leisure by 0.9% in the third quarter. Copeland Capital Management LLC now owns 1,553,470 shares of the company's stock valued at $71,584,000 after acquiring an additional 13,870 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Travel + Leisure by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,412,870 shares of the company's stock valued at $63,547,000 after purchasing an additional 57,587 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Travel + Leisure by 21.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company's stock valued at $36,540,000 after buying an additional 138,153 shares during the period. LSV Asset Management raised its stake in Travel + Leisure by 23.1% in the second quarter. LSV Asset Management now owns 725,381 shares of the company's stock worth $32,628,000 after buying an additional 136,281 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Travel + Leisure by 440.7% in the second quarter. Millennium Management LLC now owns 614,141 shares of the company's stock worth $27,624,000 after buying an additional 500,554 shares during the period. 87.54% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Amandine Robin-Caplan sold 3,246 shares of the company's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $41.84, for a total transaction of $135,812.64. Following the completion of the sale, the insider now owns 24,491 shares in the company, valued at approximately $1,024,703.44. This represents a 11.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen P. Holmes sold 80,000 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $47.55, for a total value of $3,804,000.00. Following the completion of the transaction, the director now directly owns 362,947 shares in the company, valued at approximately $17,258,129.85. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,455 shares of company stock worth $5,075,834. 4.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TNL shares. Truist Financial upped their target price on Travel + Leisure from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Tigress Financial upped their price target on Travel + Leisure from $58.00 to $64.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. The Goldman Sachs Group raised their price objective on Travel + Leisure from $44.00 to $49.00 and gave the company a "neutral" rating in a research report on Thursday, October 24th. Barclays upped their target price on shares of Travel + Leisure from $40.00 to $41.00 and gave the stock an "underweight" rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus increased their price target on shares of Travel + Leisure from $59.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $56.80.

Travel + Leisure Price Performance

Travel + Leisure stock traded down $0.52 during mid-day trading on Monday, reaching $55.35. The stock had a trading volume of 500,755 shares, compared to its average volume of 581,543. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 0.81 and a beta of 1.63. Travel + Leisure Co. has a one year low of $36.09 and a one year high of $56.91. The company has a 50-day moving average price of $49.41 and a two-hundred day moving average price of $45.97.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.08. The firm had revenue of $993.00 million for the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a net margin of 10.99% and a negative return on equity of 48.06%. The business's revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 earnings per share. On average, equities research analysts anticipate that Travel + Leisure Co. will post 5.75 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.61%. Travel + Leisure's dividend payout ratio (DPR) is presently 33.96%.

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.