Travel + Leisure Co. (NYSE:TNL) Shares Purchased by Foster & Motley Inc.

Key Points

• Foster & Motley Inc. increased its stake in Travel + Leisure Co. by 282.8%, holding 109,716 shares valued at approximately $5.08 million.
• Travel + Leisure reported Q2 earnings of $1.65 per share, slightly below expectations, with revenue rising to $1.02 billion, a 3.4% increase year-over-year.
• The company announced a quarterly dividend of $0.56 per share, resulting in an annualized yield of 3.58%.

Foster & Motley Inc. boosted its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 282.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 109,716 shares of the company's stock after purchasing an additional 81,053 shares during the quarter. Foster & Motley Inc. owned about 0.17% of Travel + Leisure worth $5,079,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Travel + Leisure during the 4th quarter valued at about $45,804,000. Nuveen Asset Management LLC lifted its stake in Travel + Leisure by 25.1% during the 4th quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company's stock valued at $45,299,000 after acquiring an additional 180,059 shares during the period. Invesco Ltd. lifted its stake in shares of Travel + Leisure by 4.8% in the 4th quarter. Invesco Ltd. now owns 3,544,548 shares of the company's stock worth $178,822,000 after purchasing an additional 163,804 shares during the period. Voloridge Investment Management LLC bought a new position in shares of Travel + Leisure in the 4th quarter worth approximately $6,304,000. Finally, Millennium Management LLC lifted its stake in shares of Travel + Leisure by 167.8% in the 4th quarter. Millennium Management LLC now owns 180,160 shares of the company's stock worth $9,089,000 after purchasing an additional 112,883 shares during the period. 87.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Denny Marie Post sold 5,500 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $50.20, for a total transaction of $276,100.00. Following the completion of the transaction, the director directly owned 4,477 shares of the company's stock, valued at $224,745.40. This represents a 55.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeffrey Myers sold 110,885 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.33, for a total value of $6,911,462.05. Following the transaction, the insider directly owned 142,553 shares of the company's stock, valued at approximately $8,885,328.49. The trade was a 43.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 323,474 shares of company stock worth $19,908,918. Corporate insiders own 3.75% of the company's stock.

Travel + Leisure Price Performance

Travel + Leisure stock traded down $2.75 during trading hours on Thursday, reaching $59.16. The stock had a trading volume of 1,105,030 shares, compared to its average volume of 746,270. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $63.31. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 0.59 and a beta of 1.38. The business's 50 day moving average price is $53.47 and its 200-day moving average price is $50.86.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly 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). The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%. Travel + Leisure's revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 EPS. On average, sell-side analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, June 13th. Travel + Leisure's dividend payout ratio is currently 38.62%.

Analysts Set New Price Targets

A number of equities research analysts have commented on TNL shares. JMP Securities raised their target price on shares of Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. Morgan Stanley decreased their target price on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $63.00 to $72.00 in a research note on Thursday, July 24th. Barclays raised their target price on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group cut their price objective on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating for the company in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $62.30.

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.