Sherbrooke Park Advisers LLC Acquires Shares of 16,371 Travel + Leisure Co. (NYSE:TNL)

Sherbrooke Park Advisers LLC acquired a new stake in shares of Travel + Leisure Co. (NYSE:TNL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 16,371 shares of the company’s stock, valued at approximately $826,000.

A number of other large investors have also added to or reduced their stakes in TNL. Norges Bank bought a new stake in shares of Travel + Leisure in the 4th quarter worth $45,804,000. Nuveen Asset Management LLC increased its holdings in shares of Travel + Leisure by 25.1% in the 4th quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company’s stock worth $45,299,000 after purchasing an additional 180,059 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Travel + Leisure by 4.8% in the 4th quarter. Invesco Ltd. now owns 3,544,548 shares of the company’s stock worth $178,822,000 after purchasing an additional 163,804 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Travel + Leisure by 15.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company’s stock worth $46,169,000 after purchasing an additional 122,173 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Travel + Leisure by 167.8% in the 4th quarter. Millennium Management LLC now owns 180,160 shares of the company’s stock worth $9,089,000 after purchasing an additional 112,883 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Travel + Leisure Stock Down 0.8%

Shares of Travel + Leisure stock opened at $50.69 on Friday. The stock’s 50-day simple moving average is $45.29 and its 200-day simple moving average is $50.58. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $58.95. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 0.67 and a beta of 1.41.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.10 by $0.01. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The business had revenue of $934.00 million for the quarter, compared to the consensus estimate of $933.08 million. During the same period in the previous year, the business earned $0.97 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. On average, equities analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s dividend payout ratio is presently 37.40%.

Insider Activity at Travel + Leisure

In related news, Director Denny Marie Post sold 5,500 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $50.20, for a total transaction of $276,100.00. Following the sale, the director now owns 4,477 shares in the company, valued at approximately $224,745.40. This represents a 55.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Dean Brown purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the acquisition, the insider now directly owns 408,706 shares in the company, valued at $19,070,221.96. This trade represents a 0.49% increase in their position. The disclosure for this purchase can be found here. 3.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on TNL. Barclays reduced their target price on Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating for the company in a report on Thursday, April 24th. Mizuho reissued a “neutral” rating and issued a $64.00 target price (up previously from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. The Goldman Sachs Group cut their price objective on Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Bank of America raised Travel + Leisure from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $60.00 in a report on Monday, January 27th. Finally, Morgan Stanley cut their price objective on Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.20.

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.