Hsbc Holdings PLC Takes Position in Travel + Leisure Co. $TNL

Key Points

• HSBC Holdings PLC disclosed a new position in Travel + Leisure, buying 32,068 shares worth about $2.2 million in the first quarter.
• Travel + Leisure reported quarterly EPS of $1.88, matching estimates, while revenue of $1.06 billion topped forecasts and rose 4.4% year over year.
• Analysts remain generally bullish on the stock, with an average “Buy” rating and an average price target of $86.90; the company also pays a quarterly dividend of $0.60 per share.

Hsbc Holdings PLC acquired a new position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 32,068 shares of the company's stock, valued at approximately $2,200,000. Hsbc Holdings PLC owned approximately 0.05% of Travel + Leisure as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Baron Wealth Management LLC increased its stake in shares of Travel + Leisure by 2.8% in the 1st quarter. Baron Wealth Management LLC now owns 4,953 shares of the company's stock worth $343,000 after acquiring an additional 133 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Travel + Leisure by 0.7% in the first quarter. Diversified Trust Co now owns 19,393 shares of the company's stock valued at $1,342,000 after purchasing an additional 137 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Travel + Leisure by 2.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,790 shares of the company's stock valued at $408,000 after purchasing an additional 148 shares during the period. Evolve Private Wealth LLC increased its position in Travel + Leisure by 1.7% during the first quarter. Evolve Private Wealth LLC now owns 9,270 shares of the company's stock worth $641,000 after purchasing an additional 156 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in Travel + Leisure by 19.7% during the second quarter. Geneos Wealth Management Inc. now owns 1,148 shares of the company's stock worth $59,000 after purchasing an additional 189 shares during the period. Institutional investors and hedge funds own 87.54% of the company's stock.

Travel + Leisure Stock Performance

Travel + Leisure stock opened at $74.07 on Friday. The company's 50 day simple moving average is $72.53 and its 200-day simple moving average is $71.70. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 0.56 and a beta of 1.16. Travel + Leisure Co. has a 1 year low of $56.66 and a 1 year high of $81.00.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 EPS for the quarter, hitting the consensus estimate of $1.88. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. During the same period in the prior year, the business posted $1.65 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts expect that Travel + Leisure Co. will post 7.58 earnings per share for the current year.

Travel + Leisure Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have weighed in on TNL. Mizuho boosted their target price on shares of Travel + Leisure from $105.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday. Morgan Stanley lifted their price target on shares of Travel + Leisure from $78.00 to $83.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. Citigroup reiterated a "market outperform" rating on shares of Travel + Leisure in a research report on Thursday. Zacks Research raised Travel + Leisure from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company lifted their target price on Travel + Leisure from $87.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $86.90.

Insiders Place Their Bets

In other news, Director Denny Marie Post sold 2,500 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $63.83, for a total transaction of $159,575.00. Following the completion of the transaction, the director directly owned 1,977 shares in the company, valued at $126,191.91. This trade represents a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George Herrera sold 500 shares of Travel + Leisure stock in a transaction on 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 $101,691.48. The trade was a 26.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 31,000 shares of company stock worth $2,161,915 over the last ninety days. Corporate insiders own 4.01% of the company's stock.

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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