BlackRock Inc. Invests $543.96 Million in Travel + Leisure Co. $TNL

Key Points

• BlackRock acquired 7.12 million Travel + Leisure shares worth approximately $543.96 million, giving it an 11.63% stake. Institutional investors collectively own 87.54% of the company.
• Travel + Leisure reported quarterly EPS of $1.88, in line with estimates, while revenue rose 4.4% year over year to $1.06 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $87.82.
• The company declared a quarterly dividend of $0.60 per share, equivalent to $2.40 annually and a 3.3% yield. Meanwhile, insiders have sold 95,135 shares worth about $7.02 million over the past 90 days.

BlackRock Inc. bought a new position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,117,065 shares of the company's stock, valued at approximately $543,957,000. BlackRock Inc. owned about 11.63% of Travel + Leisure at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Pallas Capital Advisors LLC purchased a new position in Travel + Leisure during the second quarter worth approximately $714,000. Deutsche Bank AG acquired a new position in Travel + Leisure during the second quarter worth $7,399,000. N.E.W. Advisory Services LLC purchased a new stake in Travel + Leisure in the 2nd quarter valued at $46,000. Global Retirement Partners LLC purchased a new stake in Travel + Leisure in the 2nd quarter valued at $237,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Travel + Leisure in the 2nd quarter worth $55,087,000. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Travel + Leisure Trading Up 2.0%

TNL stock opened at $73.14 on Tuesday. The company has a market capitalization of $4.48 billion, a PE ratio of 19.98, a P/E/G ratio of 0.49 and a beta of 1.17. Travel + Leisure Co. has a 12-month low of $58.07 and a 12-month high of $81.00. The business's fifty day moving average price is $75.12 and its 200 day moving average price is $72.14.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $1.88 EPS for the quarter, meeting analysts' consensus estimates of $1.88. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same period last year, the business posted $1.65 EPS. Travel + Leisure's revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts predict that Travel + Leisure Co. will post 7.6 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The firm also recently declared 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 is Wednesday, September 16th. This represents a $2.40 annualized dividend and a dividend yield of 3.3%. Travel + Leisure's payout ratio is 65.57%.

Wall Street Analysts Forecast Growth

TNL has been the subject of a number of analyst reports. Mizuho upped their price objective on shares of Travel + Leisure from $105.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Travel + Leisure in a research note on Tuesday, July 21st. Wells Fargo & Company boosted their target price on shares of Travel + Leisure from $87.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Barclays increased their price target on shares of Travel + Leisure from $74.00 to $77.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley raised their price target on shares of Travel + Leisure from $83.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, August 18th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $87.82.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, Director George Herrera sold 500 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the sale, the director owned 1,353 shares of the company's stock, valued at $101,691.48. This trade represents a 26.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Geoffrey Richards sold 33,744 shares of Travel + Leisure stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $75.65, for a total transaction of $2,552,733.60. Following the completion of the transaction, the insider owned 1,600 shares of the company's stock, valued at $121,040. This represents a 95.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 95,135 shares of company stock valued at $7,022,699. 4.01% of the stock is currently owned by company insiders.

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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