Vanguard Group Inc. reduced its stake in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,593,852 shares of the company’s stock after selling 128,478 shares during the quarter. Vanguard Group Inc. owned about 14.87% of Travel + Leisure worth $518,675,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System bought a new stake in shares of Travel + Leisure during the fourth quarter valued at about $794,000. Los Angeles Capital Management LLC raised its stake in shares of Travel + Leisure by 1,025.0% during the first quarter. Los Angeles Capital Management LLC now owns 196,627 shares of the company’s stock valued at $9,627,000 after purchasing an additional 179,149 shares in the last quarter. Waterloo Capital L.P. bought a new stake in shares of Travel + Leisure during the fourth quarter valued at about $2,081,000. Retirement Systems of Alabama raised its stake in shares of Travel + Leisure by 87.9% during the fourth quarter. Retirement Systems of Alabama now owns 281,799 shares of the company’s stock valued at $11,016,000 after purchasing an additional 131,796 shares in the last quarter. Finally, Bank of Nova Scotia bought a new stake in shares of Travel + Leisure during the fourth quarter valued at about $4,496,000. 87.54% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Travel + Leisure from $44.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Travel + Leisure from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Travel + Leisure from $53.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.75.
Check Out Our Latest Stock Report on Travel + Leisure
Travel + Leisure Trading Up 1.3 %
Shares of TNL opened at $45.86 on Friday. The business’s 50-day moving average price is $44.89 and its 200 day moving average price is $44.23. The stock has a market capitalization of $3.20 billion, a P/E ratio of 8.45, a P/E/G ratio of 2.53 and a beta of 1.63. Travel + Leisure Co. has a 1-year low of $32.10 and a 1-year high of $49.91.
Travel + Leisure (NYSE:TNL – Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $985.00 million for the quarter, compared to analysts’ expectations of $987.20 million. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 11.35%. Travel + Leisure’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $1.33 EPS. On average, research analysts predict that Travel + Leisure Co. will post 5.54 earnings per share for the current year.
Travel + Leisure Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 4.36%. Travel + Leisure’s dividend payout ratio is currently 36.83%.
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.
See Also
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