California State Teachers Retirement System Acquires 15,286 Shares of Travel + Leisure Co. $TNL

Key Points

• California State Teachers Retirement System increased its Travel + Leisure stake by 25.3%, acquiring 15,286 shares and bringing its holdings to 75,819 shares valued at approximately $5.25 million. Institutional investors collectively own 87.54% of the company.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $86.90. Wells Fargo raised its target to $92, while Zacks upgraded the stock to “strong buy.”
• Travel + Leisure reported quarterly revenue of $1.06 billion, up 4.4% year over year, and earnings of $1.88 per share, matching estimates. The company also declared a quarterly dividend of $0.60 per share, representing a 3.1% annualized yield.

California State Teachers Retirement System lifted its holdings in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 25.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,819 shares of the company's stock after purchasing an additional 15,286 shares during the period. California State Teachers Retirement System owned 0.12% of Travel + Leisure worth $5,246,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of TNL. Royal Bank of Canada increased its stake in shares of Travel + Leisure by 3.4% in the first quarter. Royal Bank of Canada now owns 50,371 shares of the company's stock valued at $3,484,000 after buying an additional 1,673 shares during the period. Empowered Funds LLC lifted its position in shares of Travel + Leisure by 179.0% in the 1st quarter. Empowered Funds LLC now owns 6,738 shares of the company's stock worth $466,000 after purchasing an additional 4,323 shares during the period. Maverick Capital Ltd. acquired a new position in shares of Travel + Leisure in the 1st quarter worth approximately $1,221,000. Quantinno Capital Management LP boosted its stake in shares of Travel + Leisure by 21.7% in the 1st quarter. Quantinno Capital Management LP now owns 1,305,515 shares of the company's stock valued at $90,329,000 after purchasing an additional 232,711 shares during the last quarter. Finally, SummitTX Capital L.P. bought a new stake in shares of Travel + Leisure in the 1st quarter valued at $1,400,000. Institutional investors own 87.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Travel + Leisure from $87.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Zacks Research upgraded Travel + Leisure from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Weiss Ratings reissued a "buy (b-)" rating on shares of Travel + Leisure in a research report on Tuesday, July 21st. Barclays boosted their price objective on Travel + Leisure from $74.00 to $77.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Finally, Wall Street Zen lowered Travel + Leisure from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $86.90.

Travel + Leisure Stock Performance

Shares of Travel + Leisure stock opened at $77.38 on Friday. The stock has a market capitalization of $4.74 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 0.53 and a beta of 1.17. Travel + Leisure Co. has a 52 week low of $57.78 and a 52 week high of $81.00. The stock has a 50 day moving average price of $74.62 and a two-hundred day moving average price of $71.88.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) 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 company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same period last year, the business earned $1.65 EPS. Travel + Leisure's quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts forecast that Travel + Leisure Co. will post 7.68 EPS for the current year.

Travel + Leisure Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, September 16th. Travel + Leisure's dividend payout ratio is currently 65.57%.

Insider Buying and Selling at Travel + Leisure

In other news, insider Kimberly Marshall sold 32,691 shares of the firm's stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $75.00, for a total value of $2,451,825.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Geoffrey Richards sold 33,744 shares of Travel + Leisure stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $75.65, for a total value of $2,552,733.60. Following the transaction, the insider directly owned 1,600 shares in the company, valued at approximately $121,040. The trade was a 95.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 97,435 shares of company stock worth $7,166,474 in the last quarter. 4.01% of the stock is owned by insiders.

Travel + Leisure Company 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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