Travel + Leisure Co. (NYSE:TNL) Shares Purchased by Burney Co.

Key Points

• Burney Co. significantly increased its holdings in Travel + Leisure Co. by 230.1% during Q1, acquiring a total of 19,185 shares valued at approximately $888,000.
• Institutional investors now own 87.54% of Travel + Leisure's stock, reflecting strong interest from various large investors, including Norges Bank and Millennium Management LLC.
• Recent analyst reports have resulted in mixed ratings, with Barclays raising its price target to $54 and Mizuho increasing it to $72, while maintaining an average market outlook of "Moderate Buy".

Burney Co. grew its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 230.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,185 shares of the company's stock after acquiring an additional 13,373 shares during the quarter. Burney Co.'s holdings in Travel + Leisure were worth $888,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TNL. Allspring Global Investments Holdings LLC increased its position in Travel + Leisure by 210.4% during the 1st 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 in the last quarter. Merit Financial Group LLC acquired a new stake in Travel + Leisure during the 1st quarter worth approximately $261,000. GAMMA Investing LLC increased its position in Travel + Leisure by 26.6% during the 1st quarter. GAMMA Investing LLC now owns 2,044 shares of the company's stock worth $95,000 after purchasing an additional 429 shares in the last quarter. Cerity Partners LLC increased its position in Travel + Leisure by 10.1% during the 1st quarter. Cerity Partners LLC now owns 21,529 shares of the company's stock worth $997,000 after purchasing an additional 1,980 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Travel + Leisure by 4.1% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 87.54% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays set a $54.00 price objective on shares of Travel + Leisure and gave the company an "underweight" rating in a research report on Thursday. JMP Securities raised their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a research report on Thursday. The Goldman Sachs Group reduced their price objective on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Wall Street Zen upgraded Travel + Leisure from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Mizuho upgraded Travel + Leisure from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $63.00 to $72.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Travel + Leisure currently has an average rating of "Moderate Buy" and an average price target of $62.30.

Insider Activity at Travel + Leisure

In other news, insider Kimberly Marshall sold 16,500 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $60.00, for a total transaction of $990,000.00. Following the transaction, the insider directly owned 56,736 shares of the company's stock, valued at approximately $3,404,160. This trade represents a 22.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Denny Marie Post sold 5,500 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $50.20, for a total value of $276,100.00. Following the transaction, the director directly owned 4,477 shares in the company, valued at $224,745.40. This trade represents a 55.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 199,020 shares of company stock valued at $12,123,076. 3.75% of the stock is owned by corporate insiders.

Travel + Leisure Stock Down 1.4%

TNL stock traded down $0.87 during mid-day trading on Monday, reaching $62.31. The company had a trading volume of 133,210 shares, compared to its average volume of 694,390. The stock has a market capitalization of $4.05 billion, a P/E ratio of 10.75, a P/E/G ratio of 0.60 and a beta of 1.38. Travel + Leisure Co. has a one year low of $37.77 and a one year high of $63.28. The stock's 50-day simple moving average is $52.47 and its two-hundred day simple moving average is $50.55.

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

Travel + Leisure Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Friday, June 13th. Travel + Leisure's dividend payout ratio (DPR) is 38.62%.

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.