Posted by admin on Aug 24th, 2022 
Commonwealth Equity Services LLC lifted its stake in Travel + Leisure Co. (NYSE:TNL – Get Rating) by 9.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 6,090 shares of the company’s stock after buying an additional 537 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Travel + Leisure were worth $352,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Mercer Global Advisors Inc. ADV increased its position in shares of Travel + Leisure by 5.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,573 shares of the company’s stock worth $529,000 after purchasing an additional 464 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Travel + Leisure during the fourth quarter worth approximately $292,000. Victory Capital Management Inc. raised its stake in shares of Travel + Leisure by 15.8% in the fourth quarter. Victory Capital Management Inc. now owns 291,563 shares of the company’s stock valued at $16,115,000 after acquiring an additional 39,866 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Travel + Leisure by 30.6% in the 4th quarter. ProShare Advisors LLC now owns 7,801 shares of the company’s stock worth $431,000 after acquiring an additional 1,827 shares in the last quarter. Finally, Versor Investments LP grew its position in Travel + Leisure by 357.0% during the 4th quarter. Versor Investments LP now owns 23,830 shares of the company’s stock worth $1,317,000 after acquiring an additional 18,616 shares during the last quarter. Institutional investors own 87.70% of the company’s stock.
Travel + Leisure stock opened at $45.31 on Wednesday. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 11.00 and a beta of 1.71. Travel + Leisure Co. has a 12-month low of $37.67 and a 12-month high of $63.19. The business’s 50-day simple moving average is $42.70 and its 200 day simple moving average is $49.84.
Travel + Leisure (NYSE:TNL – Get Rating) last issued its earnings results on Thursday, July 28th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.07. The company had revenue of $922.00 million for the quarter, compared to analyst estimates of $917.86 million. Travel + Leisure had a net margin of 10.44% and a negative return on equity of 45.70%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. As a group, sell-side analysts expect that Travel + Leisure Co. will post 4.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Wednesday, September 14th. Travel + Leisure’s dividend payout ratio is presently 38.84%.
In other news, insider Olivier Chavy sold 4,195 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $42.65, for a total value of $178,916.75. Following the transaction, the insider now directly owns 127,236 shares in the company, valued at approximately $5,426,615.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director George Herrera sold 2,135 shares of Travel + Leisure stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $45.72, for a total transaction of $97,612.20. Following the transaction, the director now owns 39,852 shares of the company’s stock, valued at approximately $1,822,033.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Olivier Chavy sold 4,195 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $42.65, for a total transaction of $178,916.75. Following the completion of the sale, the insider now directly owns 127,236 shares of the company’s stock, valued at approximately $5,426,615.40. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.
Several brokerages have issued reports on TNL. Deutsche Bank Aktiengesellschaft cut their price objective on Travel + Leisure from $76.00 to $69.00 and set a “buy” rating for the company in a research report on Monday, August 1st. Jefferies Financial Group upgraded shares of Travel + Leisure from a “hold” rating to a “buy” rating and upped their price target for the stock from $62.00 to $79.00 in a research report on Friday, April 29th. Barclays initiated coverage on shares of Travel + Leisure in a report on Tuesday, June 28th. They set an “equal weight” rating on the stock. Stifel Nicolaus dropped their target price on shares of Travel + Leisure from $76.00 to $61.00 in a research note on Thursday, July 28th. Finally, Truist Financial decreased their price target on shares of Travel + Leisure from $78.00 to $72.00 and set a “buy” rating on the stock in a research note on Friday, August 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.40.
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Travel + Leisure Co, together with its subsidiaries, provides hospitality services and 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; provides consumer financing in connection with the sale of VOIs; and provides property management services at resorts.
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