Fox Run Management L.L.C. Decreases Stock Holdings in Travel + Leisure Co. $TNL

Key Points

• Fox Run Management L.L.C. reduced its stake in Travel + Leisure Co. by 47.0%, selling 6,657 shares and leaving it with 7,505 shares valued at approximately $347,000 at the end of Q1.
• Insider transactions included Jeffrey Myers selling 110,885 shares for over $6.9 million, indicating a significant decrease of 43.75% in ownership.
• Travel + Leisure announced a quarterly dividend of $0.56 per share, yielding 3.7%, with a planned payment date of September 30th.

Fox Run Management L.L.C. lessened its stake in Travel + Leisure Co. (NYSE:TNL - Free Report) by 47.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,505 shares of the company's stock after selling 6,657 shares during the period. Fox Run Management L.L.C.'s holdings in Travel + Leisure were worth $347,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Travel + Leisure by 210.4% during the first 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Travel + Leisure by 8.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company's stock valued at $46,039,000 after buying an additional 79,430 shares in the last quarter. Merit Financial Group LLC purchased a new position in Travel + Leisure in the first quarter worth $261,000. GAMMA Investing LLC lifted its holdings in Travel + Leisure by 26.6% in the first quarter. GAMMA Investing LLC now owns 2,044 shares of the company's stock valued at $95,000 after acquiring an additional 429 shares during the period. Finally, Cerity Partners LLC boosted its position in shares of 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. 87.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TNL shares. JMP Securities increased their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a report on Thursday, July 24th. Barclays raised their price target on Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a research report on Thursday, July 24th. Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $63.00 to $72.00 in a research report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of Travel + Leisure from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell 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 target price of $62.30.

Travel + Leisure Stock Performance

Travel + Leisure stock traded up $3.1080 during midday trading on Friday, reaching $62.3680. 945,786 shares of the company were exchanged, compared to its average volume of 706,994. The firm's 50-day simple moving average is $56.91 and its 200-day simple moving average is $51.55. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $63.31. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 0.57 and a beta of 1.43.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates 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 for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.52 earnings per share. On average, 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 will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, September 12th. Travel + Leisure's dividend payout ratio is currently 38.62%.

Insider Transactions at Travel + Leisure

In other news, CAO Thomas Michael Duncan sold 8,201 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $62.24, for a total transaction of $510,430.24. Following the completion of the transaction, the chief accounting officer owned 20,000 shares of the company's stock, valued at $1,244,800. This represents a 29.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffrey Myers sold 110,885 shares of the firm'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 transaction of $6,911,462.05. Following the completion of the sale, the insider directly owned 142,553 shares in the company, valued at $8,885,328.49. This represents a 43.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 320,174 shares of company stock worth $19,765,874 in the last quarter. 3.75% of the stock is currently owned by corporate insiders.

Travel + Leisure 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.