Brandywine Global Investment Management LLC Acquires 6,950 Shares of Travel + Leisure Co. (NYSE: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 increased its position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in Travel + Leisure by 210.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,893 shares of the company's stock worth $1,666,000 after purchasing an additional 24,329 shares during the period. Merit Financial Group LLC bought a new position in Travel + Leisure in the first quarter worth $261,000. GAMMA Investing LLC lifted its position in Travel + Leisure by 26.6% in the first quarter. GAMMA Investing LLC now owns 2,044 shares of the company's stock worth $95,000 after purchasing an additional 429 shares during the period. Cerity Partners LLC lifted its position in Travel + Leisure by 10.1% in the first quarter. Cerity Partners LLC now owns 21,529 shares of the company's stock worth $997,000 after purchasing an additional 1,980 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Travel + Leisure by 4.1% in the first quarter. Envestnet Asset Management Inc. now owns 208,929 shares of the company's stock worth $9,671,000 after purchasing an additional 8,142 shares during the period. 87.54% of the stock is owned by institutional investors.

Travel + Leisure Stock Performance

Shares of NYSE:TNL opened at $60.15 on Friday. Travel + Leisure Co. has a twelve month low of $37.77 and a twelve month high of $63.31. The firm has a market cap of $3.90 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 0.58 and a beta of 1.43. The business has a fifty day moving average of $55.86 and a 200-day moving average of $51.35.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share 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 business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $1.52 earnings per share. The business's quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

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 paid 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 (DPR) is 38.62%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Morgan Stanley reduced their target price on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. JMP Securities increased their price objective on Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. Barclays increased their price objective on Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research note on Thursday, July 24th. Mizuho upgraded Travel + Leisure from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $63.00 to $72.00 in a research note 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Travel + Leisure currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.30.

Insider Buying and Selling

In related news, Director George Herrera sold 2,200 shares of Travel + Leisure stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $60.48, for a total value of $133,056.00. Following the completion of the sale, the director directly owned 559 shares in the company, valued at $33,808.32. This trade represents a 79.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas Michael Duncan sold 8,201 shares of Travel + Leisure 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 completion of the sale, the chief accounting officer owned 20,000 shares of the company's stock, valued at approximately $1,244,800. The trade was a 29.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 320,174 shares of company stock valued at $19,765,874 in the last 90 days. 3.75% of the stock is owned by corporate insiders.

Travel + Leisure Company Profile

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.

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