First Trust Advisors LP cut its stake in Travel + Leisure Co. (NYSE:TNL – Free Report) by 3.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 395,478 shares of the company’s stock after selling 13,331 shares during the period. First Trust Advisors LP’s holdings in Travel + Leisure were worth $27,363,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of TNL. Invesco Ltd. lifted its holdings in shares of Travel + Leisure by 4.2% in the fourth quarter. Invesco Ltd. now owns 3,632,657 shares of the company’s stock valued at $256,211,000 after purchasing an additional 146,484 shares in the last quarter. AQR Capital Management LLC raised its position in Travel + Leisure by 46.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock valued at $138,449,000 after buying an additional 855,151 shares during the last quarter. LSV Asset Management raised its position in Travel + Leisure by 1.1% in the 4th quarter. LSV Asset Management now owns 1,612,657 shares of the company’s stock valued at $113,741,000 after buying an additional 17,377 shares during the last quarter. Geode Capital Management LLC lifted its stake in Travel + Leisure by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,208,918 shares of the company’s stock valued at $85,281,000 after acquiring an additional 10,137 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Travel + Leisure by 9.3% in the 4th quarter. Morgan Stanley now owns 906,101 shares of the company’s stock valued at $63,907,000 after acquiring an additional 77,135 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.
Travel + Leisure Trading Up 2.7%
NYSE:TNL opened at $78.39 on Wednesday. The stock has a market capitalization of $4.80 billion, a PE ratio of 21.42, a P/E/G ratio of 0.57 and a beta of 1.16. Travel + Leisure Co. has a 1-year low of $56.66 and a 1-year high of $81.00. The firm has a fifty day simple moving average of $73.12 and a 200 day simple moving average of $71.73.
Travel + Leisure Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 12th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, June 12th. This represents a $2.40 dividend on an annualized basis and a yield of 3.1%. Travel + Leisure’s dividend payout ratio (DPR) is presently 65.57%.
Insiders Place Their Bets
In other news, Director George Herrera sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the completion of the sale, the director directly owned 1,353 shares of the company’s stock, valued at $101,691.48. This trade represents a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Denny Marie Post sold 2,500 shares of Travel + Leisure stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $63.83, for a total value of $159,575.00. Following the transaction, the director owned 1,977 shares of the company’s stock, valued at $126,191.91. This represents a 55.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 97,435 shares of company stock worth $7,166,474 in the last three months. 4.01% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
TNL has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded shares of Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Monday, June 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Travel + Leisure in a research note on Tuesday, July 21st. Wall Street Zen cut shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Wells Fargo & Company increased their price objective on shares of Travel + Leisure from $87.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, Zacks Research upgraded Travel + Leisure from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $86.90.
Check Out Our Latest Research Report on TNL
About Travel + Leisure
Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.
In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.
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