Oliver Luxxe Assets LLC cut its position in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 46.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,761 shares of the company’s stock after selling 20,878 shares during the period. Oliver Luxxe Assets LLC’s holdings in Travel + Leisure were worth $1,816,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Invesco Ltd. boosted its stake in Travel + Leisure by 4.2% during the fourth quarter. Invesco Ltd. now owns 3,632,657 shares of the company’s stock worth $256,211,000 after buying an additional 146,484 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Travel + Leisure by 46.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock worth $138,449,000 after acquiring an additional 855,151 shares during the period. LSV Asset Management lifted its holdings in shares of Travel + Leisure by 1.1% during the 4th quarter. LSV Asset Management now owns 1,612,657 shares of the company’s stock worth $113,741,000 after acquiring an additional 17,377 shares during the period. Quantinno Capital Management LP boosted its position in shares of Travel + Leisure by 21.7% during the 1st quarter. Quantinno Capital Management LP now owns 1,305,515 shares of the company’s stock valued at $90,329,000 after acquiring an additional 232,711 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Travel + Leisure by 0.8% in the fourth 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 during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.
Travel + Leisure Trading Up 0.1%
NYSE TNL opened at $76.75 on Monday. Travel + Leisure Co. has a 1-year low of $57.78 and a 1-year high of $81.00. The company has a 50 day moving average of $74.79 and a 200-day moving average of $71.91. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 0.52 and a beta of 1.17.
Travel + Leisure Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.40 dividend on an annualized basis and a yield of 3.1%. Travel + Leisure’s payout ratio is currently 65.57%.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on TNL. Citigroup restated a “market outperform” rating on shares of Travel + Leisure in a research note on Thursday, July 23rd. Morgan Stanley upped their price objective on Travel + Leisure from $78.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. The Goldman Sachs Group raised Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a report on Monday, June 1st. Mizuho raised their target price on Travel + Leisure from $105.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company boosted their price target on Travel + Leisure from $87.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $86.90.
Read Our Latest Stock Analysis on TNL
Insiders Place Their Bets
In related news, Director Denny Marie Post sold 2,500 shares of Travel + Leisure stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $63.83, for a total value of $159,575.00. Following the completion of the transaction, the director directly owned 1,977 shares of the company’s stock, valued at $126,191.91. The trade was a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kimberly Marshall sold 32,691 shares of the company’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $75.00, for a total transaction of $2,451,825.00. The SEC filing for this sale provides additional information. Insiders sold a total of 97,435 shares of company stock worth $7,166,474 in the last three months. Company insiders own 4.01% of the company’s stock.
Travel + Leisure Company Profile
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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