Crossmark Global Holdings Inc. lowered its holdings in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 5.7% during the third quarter, Holdings Channel reports. The firm owned 199,804 shares of the company’s stock after selling 12,085 shares during the period. Crossmark Global Holdings Inc.’s holdings in Travel + Leisure were worth $12,362,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of TNL. BlackRock Inc. bought a new stake in Travel + Leisure in the second quarter worth $543,957,000. Bank of New York Mellon Corp bought a new position in Travel + Leisure during the second quarter valued at about $55,087,000. Alyeska Investment Group L.P. bought a new position in Travel + Leisure during the second quarter valued at about $35,994,000. Allianz Asset Management GmbH raised its holdings in Travel + Leisure by 3,677.9% during the second quarter. Allianz Asset Management GmbH now owns 301,478 shares of the company’s stock valued at $23,042,000 after buying an additional 293,498 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Travel + Leisure in the second quarter worth about $19,663,000. Institutional investors and hedge funds own 87.54% of the company’s stock.
Wall Street Analysts Forecast Growth
TNL has been the subject of a number of analyst reports. Truist Financial reduced their price target on Travel + Leisure from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, September 10th. Zacks Research lowered Travel + Leisure from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. Barclays upped their target price on Travel + Leisure from $74.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Mizuho increased their price target on Travel + Leisure from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Travel + Leisure in a research report on Monday. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.25.
Get Our Latest Report on Travel + Leisure
Travel + Leisure Price Performance
Travel + Leisure stock opened at $67.26 on Friday. Travel + Leisure Co. has a fifty-two week low of $60.34 and a fifty-two week high of $81.00. The firm has a fifty day moving average price of $66.27 and a two-hundred day moving average price of $70.06. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 0.68 and a beta of 1.19.
Travel + Leisure (NYSE:TNL – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.88. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business posted $1.65 earnings per share. As a group, sell-side analysts expect that Travel + Leisure Co. will post 7.47 earnings per share for the current year.
Travel + Leisure Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, September 16th. Travel + Leisure’s payout ratio is currently 65.57%.
Insider Activity at Travel + Leisure
In other Travel + Leisure news, insider Geoffrey Richards sold 33,744 shares of Travel + Leisure stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $75.65, for a total value of $2,552,733.60. Following the transaction, the insider directly owned 1,600 shares of the company’s stock, valued at $121,040. The trade was a 95.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Thomas Michael Duncan sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $74.16, for a total value of $1,483,200.00. Following the transaction, the chief accounting officer owned 5,307 shares of the company’s stock, valued at approximately $393,567.12. This trade represents a 79.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 53,944 shares of company stock valued at $4,051,734. 4.01% of the stock is owned by corporate insiders.
Travel + Leisure Profile
Travel + Leisure Co (NYSE:TNL) is a hospitality and leisure travel company that operates vacation ownership, exchange, and membership businesses. The company provides travelers with access to resort accommodations, vacation experiences, travel services, and related lifestyle offerings through a portfolio of consumer brands.
Its vacation ownership business includes brands such as Club Wyndham, WorldMark by Wyndham, and Margaritaville Vacation Club, offering members interests in vacation properties and access to resort destinations.
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