Victory Capital Management Inc. reduced its holdings in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 257,474 shares of the company’s stock after selling 3,906 shares during the quarter. Victory Capital Management Inc.’s holdings in Travel + Leisure were worth $10,065,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Travel + Leisure by 3.2% during the third quarter. Vanguard Group Inc. now owns 10,255,690 shares of the company’s stock worth $376,691,000 after purchasing an additional 322,624 shares during the period. AQR Capital Management LLC raised its holdings in Travel + Leisure by 34.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,737,814 shares of the company’s stock valued at $63,830,000 after acquiring an additional 447,938 shares during the period. LSV Asset Management lifted its position in Travel + Leisure by 2.0% during the third quarter. LSV Asset Management now owns 572,309 shares of the company’s stock worth $21,021,000 after acquiring an additional 11,400 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Travel + Leisure by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 510,173 shares of the company’s stock worth $18,739,000 after acquiring an additional 5,600 shares during the period. Finally, Advisors Capital Management LLC grew its position in shares of Travel + Leisure by 3.0% in the third quarter. Advisors Capital Management LLC now owns 412,172 shares of the company’s stock valued at $15,139,000 after purchasing an additional 11,910 shares during the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.
Travel + Leisure Stock Down 0.1 %
TNL opened at $45.46 on Monday. Travel + Leisure Co. has a twelve month low of $32.10 and a twelve month high of $49.02. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 8.37, a P/E/G ratio of 2.55 and a beta of 1.63. The company has a 50-day simple moving average of $45.76 and a 200 day simple moving average of $41.43.
Travel + Leisure (NYSE:TNL – Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $916.00 million for the quarter, compared to analyst estimates of $904.54 million. During the same quarter last year, the business posted $0.89 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Sell-side analysts anticipate that Travel + Leisure Co. will post 5.52 EPS for the current fiscal year.
Travel + Leisure Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $0.50 dividend. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $2.00 annualized dividend and a dividend yield of 4.40%. Travel + Leisure’s dividend payout ratio (DPR) is presently 36.83%.
Insider Transactions at Travel + Leisure
In related news, insider James J. Savina sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $47.00, for a total value 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director George Herrera sold 2,969 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $45.33, for a total value of $134,584.77. Following the completion of the transaction, the director now owns 2,193 shares of the company’s stock, valued at approximately $99,408.69. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James J. Savina sold 6,000 shares of the business’s 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 sale, the insider now directly owns 26,442 shares in the company, valued at approximately $1,242,774. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,922 shares of company stock valued at $1,318,358. Corporate insiders own 4.02% of the company’s stock.
Wall Street Analysts Forecast Growth
TNL has been the subject of several recent research reports. 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. Barclays boosted their target price on shares of Travel + Leisure from $44.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, April 25th. JMP Securities started coverage on shares of Travel + Leisure in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Truist Financial boosted their price objective on shares of Travel + Leisure from $59.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.83.
View Our Latest Report on Travel + Leisure
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.
Further Reading
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