New York Life Investment Management LLC reduced its stake in Travel + Leisure Co. (NYSE:TNL – Free Report) by 3.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,810 shares of the company’s stock after selling 273 shares during the quarter. New York Life Investment Management LLC’s holdings in Travel + Leisure were worth $344,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in TNL. Allworth Financial LP raised its position in shares of Travel + Leisure by 147.5% in the fourth quarter. Allworth Financial LP now owns 698 shares of the company’s stock valued at $27,000 after purchasing an additional 416 shares during the period. GAMMA Investing LLC acquired a new position in Travel + Leisure in the 4th quarter valued at $36,000. Arlington Trust Co LLC bought a new position in Travel + Leisure in the 4th quarter worth $53,000. Quent Capital LLC lifted its position in Travel + Leisure by 23.6% during the 4th quarter. Quent Capital LLC now owns 1,454 shares of the company’s stock worth $57,000 after acquiring an additional 278 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Travel + Leisure by 42.8% during the third quarter. Fifth Third Bancorp now owns 2,033 shares of the company’s stock valued at $75,000 after acquiring an additional 609 shares during the period. Institutional investors own 87.54% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently commented on TNL. Mizuho assumed coverage on Travel + Leisure in a research note on Tuesday, March 26th. They issued a “neutral” rating and a $55.00 price objective on the stock. JMP Securities initiated coverage on Travel + Leisure in a report on Tuesday, February 13th. They set an “outperform” rating and a $50.00 price target for the company. Barclays raised their price objective on shares of Travel + Leisure from $44.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Finally, Truist Financial upped their target price on shares of Travel + Leisure from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.83.
Read Our Latest Stock Report on TNL
Travel + Leisure Trading Down 0.1 %
Shares of NYSE:TNL opened at $45.46 on Monday. The firm has a market capitalization of $3.24 billion, a PE ratio of 8.37, a PEG ratio of 2.55 and a beta of 1.63. Travel + Leisure Co. has a 1-year low of $32.10 and a 1-year high of $49.02. The business’s 50 day moving average is $45.76 and its 200-day moving average is $41.43.
Travel + Leisure (NYSE:TNL – Get Free Report) last issued its earnings results on Wednesday, April 24th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.85 by $0.12. The firm had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $904.54 million. Travel + Leisure had a negative return on equity of 44.34% and a net margin of 10.54%. Travel + Leisure’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business earned $0.89 earnings per share. On average, sell-side analysts predict that Travel + Leisure Co. will post 5.52 EPS for the current year.
Travel + Leisure Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $0.50 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $2.00 dividend on an annualized basis and a yield of 4.40%. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.45. Travel + Leisure’s payout ratio is presently 36.83%.
Insider Buying and Selling
In other Travel + Leisure news, insider James J. Savina sold 6,000 shares of Travel + Leisure stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $47.00, for a total transaction of $282,000.00. Following the sale, the insider now directly owns 26,442 shares of the company’s stock, valued at $1,242,774. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Travel + Leisure news, insider James J. Savina sold 6,000 shares of Travel + Leisure stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $47.00, for a total transaction of $282,000.00. Following the completion of the transaction, the insider now directly owns 26,442 shares of the company’s stock, valued at $1,242,774. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James J. Savina sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $45.18, for a total transaction of $677,700.00. Following the completion of the sale, the insider now directly owns 15,860 shares in the company, valued at approximately $716,554.80. The disclosure for this sale can be found here. Insiders sold 28,922 shares of company stock valued at $1,318,358 over the last quarter. Corporate 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.
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