Brandywine Global Investment Management LLC Has $11.41 Million Stock Holdings in Travel + Leisure Co. $TNL

Key Points

• Brandywine Global Investment Management LLC increased its stake in Travel + Leisure Co. by 2.9%, acquiring an additional 6,950 shares, bringing its total ownership to approximately 246,430 shares worth $11.4 million.
• Travel + Leisure's stock has shown notable volatility, with a twelve-month low of $37.77 and a high of $63.31, currently trading at $60.15.
• The company announced a quarterly dividend of $0.56, with a dividend yield of 3.7% and a payout ratio of 38.62%.

Brandywine Global Investment Management LLC boosted its holdings in Travel + Leisure Co. (NYSE:TNL - Free Report) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 246,430 shares of the company's stock after purchasing an additional 6,950 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.37% of Travel + Leisure worth $11,407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in TNL. Cookson Peirce & Co. Inc. grew its holdings in Travel + Leisure by 14.2% in the first quarter. Cookson Peirce & Co. Inc. now owns 13,348 shares of the company's stock valued at $618,000 after purchasing an additional 1,664 shares during the period. Ranmore Fund Management Ltd grew its holdings in Travel + Leisure by 621.1% during the 1st quarter. Ranmore Fund Management Ltd now owns 255,000 shares of the company's stock valued at $11,804,000 after purchasing an additional 219,637 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Travel + Leisure by 19.3% during the first quarter. Russell Investments Group Ltd. now owns 187,823 shares of the company's stock valued at $8,695,000 after acquiring an additional 30,348 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Travel + Leisure by 314.4% during the 1st quarter. HighTower Advisors LLC now owns 41,369 shares of the company's stock valued at $1,915,000 after buying an additional 31,387 shares during the last quarter. Finally, CCM Investment Group LLC acquired a new position in Travel + Leisure during the 1st quarter worth $431,000. 87.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays boosted their price objective on Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a report on Thursday, July 24th. JMP Securities increased their price target on Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. Mizuho upgraded Travel + Leisure from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $63.00 to $72.00 in a research report on Thursday, July 24th. Finally, Wall Street Zen upgraded Travel + Leisure from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Travel + Leisure has an average rating of "Moderate Buy" and a consensus target price of $62.30.

Travel + Leisure Stock Performance

Shares of NYSE TNL traded up $2.8980 during mid-day trading on Friday, reaching $62.1580. The company had a trading volume of 196,976 shares, compared to its average volume of 694,123. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $63.31. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 0.56 and a beta of 1.43. The stock has a fifty day moving average of $56.62 and a two-hundred day moving average of $51.50.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $1.52 EPS. Sell-side analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $2.24 dividend on an annualized basis and a yield of 3.6%. Travel + Leisure's dividend payout ratio is currently 38.62%.

Insider Transactions at Travel + Leisure

In related news, insider Michael Dean Brown bought 1,500 shares of Travel + Leisure stock in a transaction dated Friday, August 1st. The shares were bought at an average cost of $58.39 per share, for a total transaction of $87,585.00. Following the completion of the transaction, the insider owned 427,821 shares of the company's stock, valued at approximately $24,980,468.19. This trade represents a 0.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director George Herrera sold 2,200 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $60.48, for a total value of $133,056.00. Following the sale, the director owned 559 shares of the company's stock, valued at approximately $33,808.32. The trade was a 79.74% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 320,174 shares of company stock worth $19,765,874. Corporate insiders own 3.75% of the company's stock.

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.