AlphaCrest Capital Management LLC lessened its stake in shares of Travel + Leisure Co. (NYSE:TNL – Get Rating) by 64.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,970 shares of the company’s stock after selling 21,877 shares during the period. AlphaCrest Capital Management LLC’s holdings in Travel + Leisure were worth $408,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Travel + Leisure by 13.9% during the 1st quarter. BlackRock Inc. now owns 9,806,796 shares of the company’s stock valued at $568,206,000 after buying an additional 1,197,611 shares in the last quarter. Vanguard Group Inc. boosted its stake in Travel + Leisure by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,770,347 shares of the company’s stock valued at $508,154,000 after purchasing an additional 108,258 shares during the last quarter. Invesco Ltd. boosted its stake in Travel + Leisure by 11.8% during the 1st quarter. Invesco Ltd. now owns 6,057,641 shares of the company’s stock valued at $350,980,000 after purchasing an additional 636,968 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Travel + Leisure by 0.5% during the 2nd quarter. Principal Financial Group Inc. now owns 3,420,744 shares of the company’s stock valued at $132,795,000 after purchasing an additional 17,122 shares during the last quarter. Finally, State Street Corp boosted its stake in Travel + Leisure by 3.0% during the 2nd quarter. State Street Corp now owns 2,515,891 shares of the company’s stock valued at $97,667,000 after purchasing an additional 74,254 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.
Analysts Set New Price Targets
Several analysts have commented on TNL shares. Deutsche Bank Aktiengesellschaft increased their target price on Travel + Leisure from $62.00 to $69.00 in a research note on Thursday, February 23rd. Credit Suisse Group increased their target price on Travel + Leisure from $31.00 to $36.00 and gave the company an “underperform” rating in a research note on Thursday, February 23rd. Truist Financial cut their target price on Travel + Leisure from $72.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, November 15th. Finally, Jefferies Financial Group downgraded Travel + Leisure from a “buy” rating to a “hold” rating and cut their target price for the company from $71.00 to $49.00 in a research note on Friday, February 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $53.00.
Travel + Leisure Price Performance
Travel + Leisure (NYSE:TNL – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. The firm had revenue of $899.00 million for the quarter, compared to the consensus estimate of $913.96 million. Travel + Leisure had a negative return on equity of 43.99% and a net margin of 10.01%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the business posted $1.19 EPS. As a group, analysts expect that Travel + Leisure Co. will post 5.31 earnings per share for the current year.
Travel + Leisure Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 4.60%. Travel + Leisure’s payout ratio is 37.65%.
Insider Activity at Travel + Leisure
In related news, Director George Herrera sold 882 shares of Travel + Leisure stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $38.58, for a total transaction of $34,027.56. Following the transaction, the director now directly owns 40,320 shares in the company, valued at $1,555,545.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.07% of the stock is owned by company insiders.
Travel + Leisure Company Profile
Travel + Leisure Co is a membership and leisure travel company, with a portfolio of nearly 20 resort, travel club, and lifestyle travel brands. It provides vacation experiences and travel inspiration to owners, members, and subscribers through its products and services: Wyndham Destinations, the vacation ownership company with 230 vacation club resort locations across the globe, Panorama, the membership travel business that includes the vacation exchange company, industry travel technology, and subscription travel brands, and Travel + Leisure Group, featuring online and print travel content, online booking platforms and travel clubs, and branded consumer products.
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