State Board of Administration of Florida Retirement System increased its holdings in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 11.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 117,640 shares of the company’s stock after purchasing an additional 11,847 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.17% of Travel + Leisure worth $5,760,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Travel + Leisure by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 10,722,330 shares of the company’s stock worth $419,136,000 after purchasing an additional 466,640 shares during the period. Norges Bank bought a new stake in Travel + Leisure in the 4th quarter valued at about $34,967,000. LSV Asset Management increased its position in Travel + Leisure by 6.4% in the 1st quarter. LSV Asset Management now owns 589,100 shares of the company’s stock valued at $28,842,000 after buying an additional 35,591 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Travel + Leisure by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,094 shares of the company’s stock worth $20,330,000 after acquiring an additional 9,921 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Travel + Leisure by 1.9% in the first quarter. Principal Financial Group Inc. now owns 368,324 shares of the company’s stock worth $18,033,000 after acquiring an additional 6,968 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors.
Travel + Leisure Trading Up 0.9 %
TNL stock opened at $48.50 on Monday. Travel + Leisure Co. has a 1-year low of $32.10 and a 1-year high of $49.91. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 2.71 and a beta of 1.63. The company’s 50 day moving average is $44.78 and its 200 day moving average is $44.05.
Travel + Leisure (NYSE:TNL – Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. Travel + Leisure had a net margin of 10.54% and a negative return on equity of 44.34%. The firm had revenue of $916.00 million for the quarter, compared to analyst estimates of $904.54 million. During the same quarter in the prior year, the firm earned $0.89 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Travel + Leisure Co. will post 5.53 EPS for the current fiscal year.
Travel + Leisure Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Friday, June 14th. Travel + Leisure’s dividend payout ratio (DPR) is currently 36.83%.
Analysts Set New Price Targets
TNL has been the topic of a number of research reports. Barclays upped their target price on Travel + Leisure from $44.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. raised their price objective on shares of Travel + Leisure from $53.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Mizuho started coverage on shares of Travel + Leisure in a research report on Tuesday, March 26th. They set a “neutral” rating and a $55.00 target price for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Travel + Leisure currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.
Get Our Latest Stock Report on TNL
Travel + Leisure 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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