Envestnet Portfolio Solutions Inc. purchased a new position in Travel + Leisure Co. (NYSE:TNL – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,313 shares of the company’s stock, valued at approximately $211,000.
Several other institutional investors and hedge funds have also made changes to their positions in TNL. Texas Permanent School Fund Corp raised its stake in Travel + Leisure by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 63,271 shares of the company’s stock valued at $3,098,000 after purchasing an additional 844 shares during the last quarter. WBI Investments LLC purchased a new position in shares of Travel + Leisure during the first quarter valued at approximately $992,000. Coronation Fund Managers Ltd. grew its stake in Travel + Leisure by 5.0% in the 1st quarter. Coronation Fund Managers Ltd. now owns 107,824 shares of the company’s stock worth $5,279,000 after acquiring an additional 5,088 shares during the period. Commerce Bank raised its holdings in Travel + Leisure by 53.4% in the 1st quarter. Commerce Bank now owns 163,102 shares of the company’s stock valued at $7,985,000 after acquiring an additional 56,775 shares during the last quarter. Finally, Wright Investors Service Inc. lifted its stake in shares of Travel + Leisure by 39.4% during the 1st quarter. Wright Investors Service Inc. now owns 37,808 shares of the company’s stock worth $1,851,000 after purchasing an additional 10,689 shares during the period. 87.54% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Travel + Leisure from $53.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday. Mizuho assumed coverage on Travel + Leisure in a report on Tuesday, March 26th. They issued a “neutral” rating and a $55.00 price target for the company. Finally, Barclays increased their price objective on shares of Travel + Leisure from $44.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.
View Our Latest Report on Travel + Leisure
Travel + Leisure Price Performance
Shares of NYSE:TNL opened at $48.50 on Monday. The firm has a market capitalization of $3.46 billion, a PE ratio of 8.93, a P/E/G ratio of 2.71 and a beta of 1.63. Travel + Leisure Co. has a 12 month low of $32.10 and a 12 month high of $49.91. The business has a 50-day moving average of $44.78 and a two-hundred day moving average of $44.05.
Travel + Leisure (NYSE:TNL – Get Free Report) last posted its earnings results on Wednesday, April 24th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. The firm had revenue of $916.00 million during the quarter, compared to the consensus estimate of $904.54 million. Travel + Leisure had a net margin of 10.54% and a negative return on equity of 44.34%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. As a group, research analysts anticipate that Travel + Leisure Co. will post 5.53 earnings per share for the current year.
Travel + Leisure Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 4.12%. Travel + Leisure’s payout ratio is 36.83%.
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.
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