Hsbc Holdings PLC bought a new position in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 32,068 shares of the company’s stock, valued at approximately $2,200,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baron Wealth Management LLC grew its stake in shares of Travel + Leisure by 2.8% in the first quarter. Baron Wealth Management LLC now owns 4,953 shares of the company’s stock worth $343,000 after acquiring an additional 133 shares in the last quarter. Diversified Trust Co boosted its holdings in Travel + Leisure by 0.7% in the first quarter. Diversified Trust Co now owns 19,393 shares of the company’s stock valued at $1,342,000 after purchasing an additional 137 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Travel + Leisure by 2.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,790 shares of the company’s stock valued at $408,000 after purchasing an additional 148 shares during the period. Evolve Private Wealth LLC grew its stake in Travel + Leisure by 1.7% during the 1st quarter. Evolve Private Wealth LLC now owns 9,270 shares of the company’s stock worth $641,000 after purchasing an additional 156 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Travel + Leisure by 19.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,148 shares of the company’s stock worth $59,000 after purchasing an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have issued reports on TNL. Barclays increased their price target on Travel + Leisure from $74.00 to $77.00 and gave the company an “equal weight” rating in a research report on Thursday. Zacks Research upgraded shares of Travel + Leisure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Morgan Stanley raised their target price on shares of Travel + Leisure from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Wall Street Zen downgraded shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, The Goldman Sachs Group upgraded shares of Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $86.90.
Insider Buying and Selling at Travel + Leisure
In other Travel + Leisure news, insider Kimberly Marshall sold 28,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $70.17, for a total transaction of $1,964,760.00. Following the sale, the insider owned 33,191 shares of the company’s stock, valued at approximately $2,329,012.47. This trade represents a 45.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Denny Marie Post sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $63.83, for a total transaction of $159,575.00. Following the sale, the director owned 1,977 shares of the company’s stock, valued at $126,191.91. This represents a 55.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,000 shares of company stock worth $2,161,915 over the last three months. Insiders own 4.01% of the company’s stock.
Travel + Leisure Price Performance
Shares of NYSE TNL opened at $74.07 on Friday. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 0.56 and a beta of 1.16. The business has a 50-day moving average of $72.53 and a two-hundred day moving average of $71.70. Travel + Leisure Co. has a 1 year low of $56.66 and a 1 year high of $81.00.
Travel + Leisure (NYSE:TNL – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 EPS for the quarter, meeting analysts’ consensus estimates of $1.88. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the business posted $1.65 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities research analysts expect that Travel + Leisure Co. will post 7.58 earnings per share for the current year.
Travel + Leisure Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, June 12th. Travel + Leisure’s dividend payout ratio is currently 65.57%.
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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