7,598 Shares in Travel + Leisure Co. $TNL Acquired by Kera Capital Partners Inc.

Key Points

• Kera Capital Partners Inc. acquired 7,598 shares of Travel + Leisure Co. during the second quarter, representing a new stake valued at approximately $392,000.
• Travel + Leisure Co. announced a quarterly dividend of $0.56, which translates to an annualized yield of 3.6% and a payout ratio of 38.62%.
• Analysts have varied ratings on TNL, with estimates suggesting a consensus target price of $62.30 for the stock, after recent upgrades and downgrades from several financial institutions.

Kera Capital Partners Inc. acquired a new position in Travel + Leisure Co. (NYSE:TNL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,598 shares of the company's stock, valued at approximately $392,000.

Several other institutional investors have also bought and sold shares of the stock. AQR Capital Management LLC lifted its holdings in Travel + Leisure by 28.3% in the first quarter. AQR Capital Management LLC now owns 1,827,453 shares of the company's stock worth $83,241,000 after purchasing an additional 403,418 shares during the period. Northern Trust Corp lifted its holdings in Travel + Leisure by 3.3% in the first quarter. Northern Trust Corp now owns 1,071,318 shares of the company's stock worth $49,591,000 after purchasing an additional 34,615 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Travel + Leisure by 8.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company's stock worth $46,039,000 after purchasing an additional 79,430 shares during the period. LSV Asset Management lifted its holdings in Travel + Leisure by 37.7% in the 1st quarter. LSV Asset Management now owns 956,109 shares of the company's stock valued at $44,258,000 after acquiring an additional 261,528 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Travel + Leisure by 25.1% in the 4th quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company's stock valued at $45,299,000 after acquiring an additional 180,059 shares during the last quarter. Institutional investors and hedge funds own 87.54% of the company's stock.

Insider Buying and Selling

In other news, CAO Thomas Michael Duncan sold 8,201 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $62.24, for a total value of $510,430.24. Following the transaction, the chief accounting officer owned 20,000 shares in the company, valued at $1,244,800. This represents a 29.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George Herrera sold 2,200 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $60.48, for a total value of $133,056.00. Following the completion of the transaction, the director owned 559 shares in the company, valued at $33,808.32. This represents a 79.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 320,174 shares of company stock worth $19,765,874 over the last ninety days. 3.75% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. JMP Securities upped their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a report on Thursday, July 24th. Wall Street Zen downgraded shares of Travel + Leisure from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. Mizuho raised shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and upped their price target for the company from $63.00 to $72.00 in a report on Thursday, July 24th. Finally, Barclays upped their price target on shares of Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a report on Thursday, July 24th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $62.30.

Travel + Leisure Trading Down 1.8%

TNL stock traded down $1.10 during mid-day trading on Friday, reaching $60.41. 132,862 shares of the stock traded hands, compared to its average volume of 685,208. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $64.11. The company has a market cap of $3.92 billion, a P/E ratio of 10.41, a P/E/G ratio of 0.59 and a beta of 1.44. The stock's fifty day moving average is $60.59 and its 200-day moving average is $52.36.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.65 EPS for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the company posted $1.52 earnings per share. Travel + Leisure's quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be issued a $0.56 dividend. The ex-dividend date is Friday, September 12th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.7%. Travel + Leisure's dividend payout ratio is currently 38.62%.

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.