Cubist Systematic Strategies LLC Takes Position in Travel + Leisure Co. (NYSE:TNL)

Cubist Systematic Strategies LLC bought a new position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,466 shares of the company's stock, valued at approximately $377,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. increased its holdings in Travel + Leisure by 4.8% in the fourth quarter. Invesco Ltd. now owns 3,544,548 shares of the company's stock valued at $178,822,000 after purchasing an additional 163,804 shares during the last quarter. Copeland Capital Management LLC increased its holdings in Travel + Leisure by 0.8% in the fourth quarter. Copeland Capital Management LLC now owns 1,565,581 shares of the company's stock valued at $78,984,000 after purchasing an additional 12,111 shares during the last quarter. AQR Capital Management LLC increased its holdings in Travel + Leisure by 4.3% in the fourth quarter. AQR Capital Management LLC now owns 1,424,035 shares of the company's stock valued at $71,358,000 after purchasing an additional 58,944 shares during the last quarter. Northern Trust Corp increased its holdings in Travel + Leisure by 9.6% in the fourth quarter. Northern Trust Corp now owns 1,036,703 shares of the company's stock valued at $52,302,000 after purchasing an additional 90,553 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Travel + Leisure by 15.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company's stock valued at $46,169,000 after purchasing an additional 122,173 shares during the last quarter. Institutional investors own 87.54% of the company's stock.

Analyst Upgrades and Downgrades

TNL has been the subject of a number of recent analyst reports. The Goldman Sachs Group dropped their price objective on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Bank of America raised Travel + Leisure from an "underperform" rating to a "buy" rating and boosted their target price for the company from $40.00 to $60.00 in a research note on Monday, January 27th. Mizuho reissued a "neutral" rating and issued a $64.00 target price (up from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Tigress Financial upped their price objective on Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Finally, Truist Financial upped their price objective on Travel + Leisure from $61.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $59.20.

Insider Activity at Travel + Leisure

In related news, Director George Herrera sold 6,336 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total transaction of $296,524.80. Following the sale, the director now owns 2,759 shares of the company's stock, valued at $129,121.20. This trade represents a 69.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Dean Brown acquired 2,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the acquisition, the insider now owns 408,706 shares in the company, valued at $19,070,221.96. This represents a 0.49% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.75% of the stock is currently owned by company insiders.

Travel + Leisure Price Performance

Travel + Leisure stock traded down $0.04 during mid-day trading on Thursday, reaching $48.12. 90,065 shares of the company were exchanged, compared to its average volume of 637,840. The company has a fifty day simple moving average of $45.45 and a 200-day simple moving average of $50.61. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $58.95. The firm has a market cap of $3.20 billion, a PE ratio of 8.23, a PEG ratio of 0.67 and a beta of 1.41.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.01. The firm had revenue of $934.00 million for the quarter, compared to the consensus estimate of $933.08 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The company's revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. Sell-side analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.56 per share. This is an increase from Travel + Leisure's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.24 annualized dividend and a dividend yield of 4.66%. Travel + Leisure's dividend payout ratio (DPR) is 37.40%.

About Travel + Leisure

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.