Harbor Capital Advisors Inc. Trims Stake in Travel + Leisure Co. (NYSE:TNL)

Harbor Capital Advisors Inc. decreased its position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 23.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,903 shares of the company's stock after selling 15,091 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.07% of Travel + Leisure worth $2,310,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TNL. Jones Financial Companies Lllp bought a new stake in Travel + Leisure during the fourth quarter worth approximately $25,000. Natixis acquired a new position in Travel + Leisure in the 4th quarter valued at approximately $37,000. Smartleaf Asset Management LLC boosted its position in Travel + Leisure by 30.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 772 shares of the company's stock valued at $39,000 after purchasing an additional 181 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Travel + Leisure by 54.0% during the 1st quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock worth $54,000 after purchasing an additional 409 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Travel + Leisure by 333.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company's stock worth $66,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 87.54% of the company's stock.

Travel + Leisure Price Performance

TNL stock traded down $1.70 during midday trading on Friday, reaching $48.03. 410,470 shares of the stock were exchanged, compared to its average volume of 641,911. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $58.95. The company has a fifty day moving average price of $46.34 and a 200 day moving average price of $50.15. The stock has a market capitalization of $3.19 billion, a PE ratio of 8.23, a P/E/G ratio of 0.67 and a beta of 1.37.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.10 by $0.01. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The business had revenue of $934.00 million for the quarter, compared to the consensus estimate of $933.08 million. During the same period last year, the company earned $0.97 EPS. The firm's revenue was up 2.0% compared to the same quarter last year. As a group, analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.24 annualized dividend and a dividend yield of 4.66%. Travel + Leisure's payout ratio is 37.40%.

Insider Transactions at Travel + Leisure

In other news, Director George Herrera sold 6,336 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total transaction of $296,524.80. Following the completion of the transaction, the director now owns 2,759 shares of the company's stock, valued at approximately $129,121.20. The trade was a 69.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Denny Marie Post sold 5,500 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $50.20, for a total value of $276,100.00. Following the completion of the transaction, the director now directly owns 4,477 shares in the company, valued at approximately $224,745.40. This represents a 55.13% decrease in their position. The disclosure for this sale can be found here. 3.75% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on TNL shares. Tigress Financial boosted their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Morgan Stanley cut their price target on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Truist Financial increased their price objective on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, March 7th. The Goldman Sachs Group lowered their target price on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Barclays cut their price objective on shares of Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating for the company in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $59.20.

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.