New York State Common Retirement Fund trimmed its stake in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 13.6% during the fourth quarter, Holdings Channel reports. The firm owned 64,944 shares of the company’s stock after selling 10,203 shares during the period. New York State Common Retirement Fund’s holdings in Travel + Leisure were worth $2,539,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in the stock. California Public Employees Retirement System boosted its stake in Travel + Leisure by 0.6% during the 4th quarter. California Public Employees Retirement System now owns 134,612 shares of the company’s stock valued at $5,262,000 after purchasing an additional 775 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Travel + Leisure by 144.2% during the fourth quarter. Handelsbanken Fonder AB now owns 25,400 shares of the company’s stock worth $993,000 after buying an additional 15,000 shares during the period. CWM LLC boosted its position in shares of Travel + Leisure by 216.0% during the fourth quarter. CWM LLC now owns 6,400 shares of the company’s stock worth $250,000 after buying an additional 4,375 shares during the period. MBM Wealth Consultants LLC acquired a new stake in Travel + Leisure in the 4th quarter valued at approximately $245,000. Finally, Louisiana State Employees Retirement System bought a new stake in Travel + Leisure during the 4th quarter valued at $794,000. Institutional investors own 87.54% of the company’s stock.
Insider Transactions at Travel + Leisure
In related news, insider James J. Savina sold 15,000 shares of Travel + Leisure stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $45.18, for a total value of $677,700.00. Following the transaction, the insider now owns 15,860 shares of the company’s stock, valued at approximately $716,554.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider James J. Savina sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $45.18, for a total value of $677,700.00. Following the completion of the sale, the insider now owns 15,860 shares in the company, valued at approximately $716,554.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kimberly Marshall sold 4,953 shares of Travel + Leisure stock in a transaction that occurred on Sunday, March 10th. The stock was sold at an average price of $45.24, for a total transaction of $224,073.72. Following the transaction, the insider now owns 54,657 shares in the company, valued at $2,472,682.68. The disclosure for this sale can be found here. Insiders have sold 28,922 shares of company stock valued at $1,318,358 over the last three months. Company insiders own 4.02% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on TNL shares. Mizuho began coverage on Travel + Leisure in a research note on Tuesday, March 26th. They issued a “neutral” rating and a $55.00 price target for the company. JMP Securities started coverage on shares of Travel + Leisure in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $50.00 target price for the company. Truist Financial boosted their price target on shares of Travel + Leisure from $59.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, Barclays increased their price objective on shares of Travel + Leisure from $44.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.83.
Check Out Our Latest Analysis on TNL
Travel + Leisure Trading Down 0.0 %
NYSE:TNL opened at $45.45 on Wednesday. The company has a 50-day moving average of $45.74 and a 200-day moving average of $41.18. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 2.51 and a beta of 1.63. Travel + Leisure Co. has a twelve month low of $32.10 and a twelve month high of $49.02.
Travel + Leisure (NYSE:TNL – Get Free Report) last released its earnings results on Wednesday, April 24th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.85 by $0.12. The business had revenue of $916.00 million during the quarter, compared to analyst estimates of $904.54 million. Travel + Leisure had a net margin of 10.54% and a negative return on equity of 44.34%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 earnings per share. On average, research analysts forecast that Travel + Leisure Co. will post 5.52 earnings per share for the current year.
Travel + Leisure Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.40%. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, March 20th. Travel + Leisure’s payout ratio is presently 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.
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