Truist Financial Corp raised its position in shares of Travel + Leisure Co. (NYSE:TNL – Get Rating) by 5.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,630 shares of the company’s stock after buying an additional 2,386 shares during the quarter. Truist Financial Corp owned about 0.05% of Travel + Leisure worth $2,702,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in TNL. Principal Financial Group Inc. increased its position in Travel + Leisure by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 3,376,148 shares of the company’s stock worth $186,571,000 after purchasing an additional 87,786 shares during the last quarter. Boston Partners increased its stake in Travel + Leisure by 8.3% during the fourth quarter. Boston Partners now owns 3,250,244 shares of the company’s stock worth $179,815,000 after acquiring an additional 247,946 shares during the last quarter. State Street Corp raised its position in Travel + Leisure by 1.0% during the fourth quarter. State Street Corp now owns 2,284,020 shares of the company’s stock valued at $126,238,000 after purchasing an additional 22,497 shares during the period. Senvest Management LLC lifted its stake in shares of Travel + Leisure by 3.7% in the 4th quarter. Senvest Management LLC now owns 2,259,745 shares of the company’s stock valued at $124,896,000 after purchasing an additional 81,225 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Travel + Leisure by 12.4% in the 4th quarter. JPMorgan Chase & Co. now owns 1,904,911 shares of the company’s stock worth $105,285,000 after purchasing an additional 210,687 shares during the period. Institutional investors own 87.70% of the company’s stock.
Travel + Leisure Trading Up 3.1 %
Shares of Travel + Leisure stock opened at $41.00 on Monday. Travel + Leisure Co. has a 12 month low of $37.67 and a 12 month high of $63.19. The stock’s fifty day moving average price is $45.05 and its 200-day moving average price is $51.89. The firm has a market cap of $3.50 billion, a P/E ratio of 10.85 and a beta of 1.73.
Travel + Leisure (NYSE:TNL – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.04). Travel + Leisure had a net margin of 9.98% and a negative return on equity of 40.92%. The business had revenue of $809.00 million during the quarter, compared to the consensus estimate of $772.11 million. During the same quarter in the prior year, the firm posted $0.39 EPS. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year. Analysts forecast that Travel + Leisure Co. will post 4.54 earnings per share for the current year.
Travel + Leisure Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.90%. Travel + Leisure’s dividend payout ratio is presently 42.33%.
Wall Street Analysts Forecast Growth
TNL has been the subject of a number of recent analyst reports. Jefferies Financial Group raised shares of Travel + Leisure from a “hold” rating to a “buy” rating and lifted their price target for the stock from $62.00 to $79.00 in a research note on Friday, April 29th. Barclays started coverage on Travel + Leisure in a research report on Tuesday, June 28th. They issued an “equal weight” rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Travel + Leisure presently has a consensus rating of “Moderate Buy” and an average target price of $76.60.
Insider Transactions at Travel + Leisure
In related news, insider James J. Savina sold 5,500 shares of the firm’s stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $57.19, for a total transaction of $314,545.00. Following the sale, the insider now owns 13,659 shares of the company’s stock, valued at $781,158.21. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.07% of the company’s stock.
Travel + Leisure Company Profile
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.
Further Reading
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