Travel + Leisure Co. (NYSE:TNL) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,370,303 shares of the company's stock after selling 72,989 shares during the quarter. Vanguard Group Inc. owned approximately 15.16% of Travel + Leisure worth $523,182,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Jones Financial Companies Lllp purchased a new stake in Travel + Leisure in the 4th quarter valued at $25,000. Versant Capital Management Inc increased its stake in Travel + Leisure by 49.2% in the fourth quarter. Versant Capital Management Inc now owns 637 shares of the company's stock valued at $32,000 after purchasing an additional 210 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Travel + Leisure by 314.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company's stock valued at $33,000 after buying an additional 503 shares during the last quarter. UMB Bank n.a. lifted its position in Travel + Leisure by 36.9% during the 4th quarter. UMB Bank n.a. now owns 757 shares of the company's stock worth $38,000 after acquiring an additional 204 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Travel + Leisure by 30.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company's stock valued at $39,000 after purchasing an additional 181 shares during the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Travel + Leisure Trading Down 4.4 %

Shares of NYSE:TNL traded down $1.88 during trading on Friday, hitting $40.96. 1,437,568 shares of the stock were exchanged, compared to its average volume of 612,173. The company has a market cap of $2.73 billion, a PE ratio of 7.01, a P/E/G ratio of 0.67 and a beta of 1.40. The company has a fifty day moving average price of $52.17 and a two-hundred day moving average price of $51.02. Travel + Leisure Co. has a 12-month low of $39.80 and a 12-month high of $58.95.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its 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 company had revenue of $971.00 million for the quarter, compared to the consensus estimate of $958.87 million. During the same period in the previous year, the business earned $1.98 earnings per share. Travel + Leisure's quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 5.47%. This is a boost from Travel + Leisure's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, March 17th. Travel + Leisure's dividend payout ratio is presently 38.36%.

Analyst Ratings Changes

Several research firms have recently commented on TNL. Barclays upped their price target on Travel + Leisure from $48.00 to $54.00 and gave the stock an "underweight" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised their target price on shares of Travel + Leisure from $56.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Truist Financial lifted their target price on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a report on Friday, March 7th. Mizuho restated a "neutral" rating and issued a $64.00 price objective (up previously from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Finally, Morgan Stanley started coverage on Travel + Leisure in a report on Monday, January 6th. They issued an "overweight" rating and a $67.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $63.70.

Insiders Place Their Bets

In related news, 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 sale, the director now owns 2,759 shares of the company's stock, valued at $129,121.20. This trade represents a 69.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Dean Brown bought 2,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased 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. The trade was a 0.49 % increase in their position. The disclosure for this purchase can be found here. 4.02% of the stock is currently owned by company insiders.

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.