California Public Employees Retirement System Acquires 15,383 Shares of Travel + Leisure Co. $TNL

Key Points

• CalPERS boosted its Travel + Leisure stake by 10.9% in the first quarter, adding 15,383 shares to bring its total holding to 156,580 shares worth about $10.8 million. Institutional investors remain heavily involved, owning 87.54% of the company.
• Travel + Leisure reported solid quarterly results, posting $1.88 EPS and $1.06 billion in revenue, both in line with or above analyst expectations. Revenue rose 4.4% year over year, and analysts now expect full-year EPS of 7.58.
• Wall Street remains mostly bullish on TNL, with a consensus Buy rating and average price target of $86.90. Recent analyst actions included target hikes from Morgan Stanley and Wells Fargo, while insiders sold 31,000 shares over the last 90 days.

California Public Employees Retirement System increased its holdings in Travel + Leisure Co. (NYSE:TNL - Free Report) by 10.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 156,580 shares of the company's stock after purchasing an additional 15,383 shares during the period. California Public Employees Retirement System owned approximately 0.25% of Travel + Leisure worth $10,834,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Danske Bank A S bought a new stake in Travel + Leisure in the third quarter worth $30,000. N.E.W. Advisory Services LLC bought a new position in shares of Travel + Leisure during the fourth quarter valued at about $43,000. Assetmark Inc. grew its stake in shares of Travel + Leisure by 43.8% during the first quarter. Assetmark Inc. now owns 627 shares of the company's stock valued at $43,000 after buying an additional 191 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Travel + Leisure by 293.0% in the first quarter. Geneos Wealth Management Inc. now owns 959 shares of the company's stock worth $44,000 after buying an additional 715 shares during the period. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Travel + Leisure by 27.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,241 shares of the company's stock worth $88,000 after buying an additional 265 shares during the period. Institutional investors own 87.54% of the company's stock.

Travel + Leisure Price Performance

TNL opened at $74.07 on Friday. Travel + Leisure Co. has a one year low of $56.66 and a one year high of $81.00. The business has a 50 day simple moving average of $72.53 and a two-hundred day simple moving average of $71.70. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 0.56 and a beta of 1.16.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, hitting 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 firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company earned $1.65 EPS. The business's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Travel + Leisure Co. will post 7.58 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 12th were issued a $0.60 dividend. The ex-dividend date was Friday, June 12th. This represents a $2.40 annualized dividend and a yield of 3.2%. Travel + Leisure's payout ratio is 65.57%.

Insider Buying and Selling at Travel + Leisure

In other news, Director George Herrera sold 500 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total value of $37,580.00. Following the completion of the sale, the director directly owned 1,353 shares of the company's stock, valued at approximately $101,691.48. This trade represents a 26.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Denny Marie Post sold 2,500 shares of Travel + Leisure stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $63.83, for a total transaction of $159,575.00. Following the sale, the director directly owned 1,977 shares in the company, valued at $126,191.91. The trade was a 55.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 31,000 shares of company stock valued at $2,161,915. 4.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TNL shares. Citigroup restated a "market outperform" rating on shares of Travel + Leisure in a report on Thursday. Wall Street Zen downgraded Travel + Leisure from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Morgan Stanley increased their price objective on Travel + Leisure from $78.00 to $83.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. Zacks Research upgraded shares of Travel + Leisure from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company raised their target price on shares of Travel + Leisure from $87.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $86.90.

Travel + Leisure 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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