58,700 Shares in Travel + Leisure Co. $TNL Bought by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec acquired 58,700 shares of Travel + Leisure Co., valued at approximately $2.7 million, increasing its ownership to about 0.09% of the company.
• Travel + Leisure recently announced a quarterly dividend of $0.56 per share, which provides a yield of 3.6%, set to be paid on September 30th.
• The stock has experienced a 0.9% increase, with analysts giving a consensus rating of "Moderate Buy" and a target price of $62.30.

Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 58,700 shares of the company's stock, valued at approximately $2,717,000. Caisse DE Depot ET Placement DU Quebec owned 0.09% of Travel + Leisure as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in shares of Travel + Leisure by 4.3% during the fourth quarter. AQR Capital Management LLC now owns 1,424,035 shares of the company's stock worth $71,358,000 after purchasing an additional 58,944 shares during the period. Northern Trust Corp boosted its holdings in shares of Travel + Leisure by 3.3% during 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. boosted its holdings in shares of Travel + Leisure by 8.7% during 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 boosted its holdings in shares of Travel + Leisure by 37.7% during the first quarter. LSV Asset Management now owns 956,109 shares of the company's stock worth $44,258,000 after purchasing an additional 261,528 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Travel + Leisure by 25.1% during the fourth quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company's stock worth $45,299,000 after purchasing an additional 180,059 shares during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Geoffrey Richards sold 124,454 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $62.56, for a total value of $7,785,842.24. Following the completion of the sale, the insider directly owned 118,718 shares in the company, valued at approximately $7,426,998.08. The trade was a 51.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Dean Brown acquired 1,500 shares of Travel + Leisure stock in a transaction dated Friday, August 1st. The stock was purchased at an average price of $58.39 per share, with a total value of $87,585.00. Following the completion of the purchase, the insider directly owned 427,821 shares of the company's stock, valued at $24,980,468.19. The trade was a 0.35% increase in their position. The disclosure for this purchase can be found here. Insiders sold 320,174 shares of company stock valued at $19,765,874 in the last three months. Company insiders own 3.75% of the company's stock.

Analyst Upgrades and Downgrades

TNL has been the subject of several research reports. Barclays raised their price target on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a report on Thursday, July 24th. Wall Street Zen cut shares of Travel + Leisure from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $63.00 to $72.00 in a research note on Thursday, July 24th. Finally, JMP Securities lifted their target price on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research note on Thursday, July 24th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Travel + Leisure has a consensus rating of "Moderate Buy" and a consensus price target of $62.30.

Travel + Leisure Stock Performance

Shares of Travel + Leisure stock traded up $0.55 on Monday, reaching $63.23. The stock had a trading volume of 1,096,009 shares, compared to its average volume of 672,607. The business's 50-day moving average price is $58.25 and its two-hundred day moving average price is $51.72. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $63.52. The stock has a market cap of $4.11 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 0.61 and a beta of 1.44.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings data 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 negative return on equity of 47.47% and a net margin of 10.14%.The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm posted $1.52 earnings per share. Travel + Leisure's quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The company also recently disclosed 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. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, September 12th. Travel + Leisure's payout ratio is presently 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.