Treasurer of the State of North Carolina Sells 630 Shares of Travel + Leisure Co. (NYSE:TNL)

Treasurer of the State of North Carolina decreased its holdings in Travel + Leisure Co. (NYSE:TNL – Get Rating) by 1.8% in the 4th quarter, HoldingsChannel reports. The firm owned 34,619 shares of the company’s stock after selling 630 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Travel + Leisure were worth $1,260,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. EWG Elevate Inc. bought a new stake in shares of Travel + Leisure during the fourth quarter worth $25,000. Penserra Capital Management LLC bought a new stake in shares of Travel + Leisure during the first quarter worth $31,000. Lazard Asset Management LLC bought a new stake in shares of Travel + Leisure during the first quarter worth $34,000. Belpointe Asset Management LLC bought a new stake in shares of Travel + Leisure during the fourth quarter worth $35,000. Finally, Bessemer Group Inc. grew its stake in shares of Travel + Leisure by 29.3% during the third quarter. Bessemer Group Inc. now owns 1,385 shares of the company’s stock worth $48,000 after purchasing an additional 314 shares during the period. Institutional investors own 88.54% of the company’s stock.

Insider Activity

In other news, Director George Herrera sold 2,069 shares of the business’s stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $37.53, for a total value of $77,649.57. Following the sale, the director now directly owns 5,838 shares in the company, valued at $219,100.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Olivier Chavy sold 7,900 shares of the company’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $38.02, for a total transaction of $300,358.00. Following the sale, the insider now owns 4,511 shares in the company, valued at $171,508.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George Herrera sold 2,069 shares of the company’s stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $37.53, for a total value of $77,649.57. Following the sale, the director now owns 5,838 shares in the company, valued at approximately $219,100.14. The disclosure for this sale can be found here. Insiders have sold a total of 12,619 shares of company stock worth $477,409 over the last three months. Corporate insiders own 2.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TNL. Jefferies Financial Group cut Travel + Leisure from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $71.00 to $49.00 in a research note on Friday, February 3rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Travel + Leisure from $69.00 to $62.00 in a research note on Thursday, April 27th. Bank of America began coverage on Travel + Leisure in a research note on Monday, April 17th. They set an “underperform” rating and a $42.00 price objective for the company. Finally, Credit Suisse Group lifted their price objective on Travel + Leisure from $31.00 to $36.00 and gave the stock an “underperform” rating in a research note on Thursday, February 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Travel + Leisure presently has an average rating of “Hold” and a consensus target price of $50.43.

Travel + Leisure Trading Down 3.1 %

NYSE:TNL opened at $36.80 on Friday. Travel + Leisure Co. has a 1 year low of $33.57 and a 1 year high of $52.46. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 0.32 and a beta of 1.66. The stock has a 50-day moving average price of $37.66 and a two-hundred day moving average price of $38.80.

Travel + Leisure (NYSE:TNL – Get Rating) last issued its quarterly earnings results on Wednesday, April 26th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The company had revenue of $879.00 million for the quarter, compared to analyst estimates of $840.65 million. Travel + Leisure had a negative return on equity of 43.00% and a net margin of 10.17%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. Sell-side analysts forecast that Travel + Leisure Co. will post 5.54 earnings per share for the current year.

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.89%. Travel + Leisure’s dividend payout ratio (DPR) is 40.27%.

Travel + Leisure Company Profile

(Get Rating)

Travel + Leisure Co is a membership and leisure travel company, with a portfolio of nearly 20 resort, travel club, and lifestyle travel brands. It operates through Vacation Ownership and Travel and Membership segments. The Vacation Ownership segment is involved in developing, marketing, and selling vacation ownership interests to individual consumers, providing consumer financing in connection with the sale of vacation ownership interests, and providing property management services at resorts.