California Public Employees Retirement System boosted its stake in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,612 shares of the company’s stock after purchasing an additional 775 shares during the period. California Public Employees Retirement System’s holdings in Travel + Leisure were worth $5,262,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its stake in shares of Travel + Leisure by 3.3% in the 3rd quarter. Raymond James & Associates now owns 30,229 shares of the company’s stock worth $1,110,000 after buying an additional 955 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Travel + Leisure by 10.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,692 shares of the company’s stock worth $576,000 after purchasing an additional 1,511 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of Travel + Leisure during the 3rd quarter valued at about $223,000. Allspring Global Investments Holdings LLC increased its position in shares of Travel + Leisure by 154,414.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,816 shares of the company’s stock valued at $397,000 after purchasing an additional 10,809 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Travel + Leisure by 42.8% in the 3rd quarter. Fifth Third Bancorp now owns 2,033 shares of the company’s stock worth $75,000 after purchasing an additional 609 shares during the period. Hedge funds and other institutional investors own 87.54% of the company’s stock.
Analysts Set New Price Targets
TNL has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Travel + Leisure from $59.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Barclays upped their price objective on Travel + Leisure from $44.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Mizuho began coverage on Travel + Leisure in a research report on Tuesday, March 26th. They set a “neutral” rating and a $55.00 target price on the stock. Finally, JMP Securities assumed coverage on Travel + Leisure in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $50.00 price target for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.83.
Get Our Latest Analysis on TNL
Travel + Leisure Stock Performance
TNL opened at $44.70 on Friday. Travel + Leisure Co. has a fifty-two week low of $32.10 and a fifty-two week high of $49.02. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 8.23, a price-to-earnings-growth ratio of 2.51 and a beta of 1.63. The firm’s fifty day moving average is $45.72 and its 200 day moving average is $40.96.
Travel + Leisure (NYSE:TNL – Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.85 by $0.12. Travel + Leisure had a negative return on equity of 44.34% and a net margin of 10.54%. The business had revenue of $916.00 million for the quarter, compared to the consensus estimate of $904.54 million. During the same period in the previous year, the business earned $0.89 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. On average, equities research analysts predict that Travel + Leisure Co. will post 5.52 earnings per share for the current year.
Travel + Leisure Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $0.50 per share. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date was Wednesday, March 20th. Travel + Leisure’s dividend payout ratio (DPR) is 36.83%.
Insider Activity
In related news, insider James J. Savina sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $45.18, for a total transaction of $677,700.00. Following the completion of the transaction, the insider now owns 15,860 shares in the company, valued at $716,554.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Travel + Leisure news, Director George Herrera sold 2,969 shares of Travel + Leisure stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $45.33, for a total value of $134,584.77. Following the sale, the director now owns 2,193 shares of the company’s stock, valued at approximately $99,408.69. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James J. Savina sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $45.18, for a total value of $677,700.00. Following the sale, the insider now directly owns 15,860 shares in the company, valued at $716,554.80. The disclosure for this sale can be found here. Insiders have sold a total of 28,922 shares of company stock worth $1,318,358 over the last quarter. Insiders own 4.02% of the company’s stock.
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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