State of Michigan Retirement System trimmed its holdings in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 17,407 shares of the company’s stock after selling 300 shares during the period. State of Michigan Retirement System’s holdings in Travel + Leisure were worth $680,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Travel + Leisure by 13.9% in the first quarter. BlackRock Inc. now owns 9,806,796 shares of the company’s stock valued at $568,206,000 after purchasing an additional 1,197,611 shares in the last quarter. Millennium Management LLC boosted its stake in Travel + Leisure by 508.3% during the fourth quarter. Millennium Management LLC now owns 1,058,035 shares of the company’s stock valued at $38,512,000 after buying an additional 884,116 shares during the period. Norges Bank bought a new stake in Travel + Leisure during the fourth quarter valued at $29,933,000. Invesco Ltd. boosted its stake in Travel + Leisure by 11.8% during the first quarter. Invesco Ltd. now owns 6,057,641 shares of the company’s stock valued at $350,980,000 after buying an additional 636,968 shares during the period. Finally, Long Pond Capital LP bought a new stake in Travel + Leisure during the fourth quarter worth about $16,359,000. 87.54% of the stock is owned by hedge funds and other institutional investors.
Travel + Leisure Trading Up 0.6 %
NYSE TNL opened at $46.62 on Monday. Travel + Leisure Co. has a 1-year low of $32.10 and a 1-year high of $49.02. The stock has a 50-day moving average of $44.34 and a 200-day moving average of $39.63. The firm has a market cap of $3.31 billion, a PE ratio of 8.76, a price-to-earnings-growth ratio of 1.26 and a beta of 1.63.
Travel + Leisure (NYSE:TNL – Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.61. Travel + Leisure had a negative return on equity of 43.77% and a net margin of 10.59%. The company had revenue of $935.00 million for the quarter, compared to the consensus estimate of $946.56 million. During the same quarter in the previous year, the business earned $1.30 EPS. Travel + Leisure’s revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that Travel + Leisure Co. will post 5.4 earnings per share for the current fiscal year.
Travel + Leisure Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Wednesday, March 20th. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.45. Travel + Leisure’s payout ratio is currently 37.59%.
Insider Activity at Travel + Leisure
In other Travel + Leisure news, insider James J. Savina sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $45.18, for a total transaction of $677,700.00. Following the transaction, the insider now owns 15,860 shares in the company, valued at approximately $716,554.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Travel + Leisure news, insider James J. Savina sold 6,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 26,442 shares in the company, valued at approximately $1,242,774. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James J. Savina sold 15,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $716,554.80. The disclosure for this sale can be found here. Insiders have sold a total of 28,922 shares of company stock worth $1,318,358 in the last 90 days. Company insiders own 2.07% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on TNL shares. Jefferies Financial Group raised Travel + Leisure from a “hold” rating to a “buy” rating and lifted their price target for the stock from $37.00 to $57.00 in a research note on Tuesday, January 2nd. JMP Securities started coverage on Travel + Leisure in a research note on Tuesday, February 13th. They set an “outperform” rating and a $50.00 price target for the company. Barclays lifted their price target on Travel + Leisure from $37.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. Mizuho started coverage on Travel + Leisure in a research note on Tuesday, March 26th. They set a “neutral” rating and a $55.00 price target for the company. Finally, Truist Financial lifted their price target on Travel + Leisure from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Travel + Leisure presently has a consensus rating of “Hold” and an average price target of $53.63.
View Our Latest Research Report on TNL
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.
See Also
Want to see what other hedge funds are holding TNL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Travel + Leisure Co. (NYSE:TNL – Free Report).
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