Jupiter Asset Management Ltd. Sells 46,047 Shares of Travel + Leisure Co. $TNL

Key Points

• Jupiter Asset Management trimmed its stake in Travel + Leisure by 8.8% in the fourth quarter, selling 46,047 shares and leaving it with 474,984 shares valued at about $33.5 million.
• Travel + Leisure reported better-than-expected quarterly earnings of $1.45 per share on revenue of $961 million, while analysts currently hold a Moderate Buy consensus with an average price target of $85.
• The company declared a quarterly dividend of $0.60 per share payable June 30, implying an annualized yield of about 3.5%; meanwhile, insider trading activity was mixed, with the CFO buying shares and a director selling shares.

Jupiter Asset Management Ltd. reduced its position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 474,984 shares of the company's stock after selling 46,047 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.74% of Travel + Leisure worth $33,501,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of TNL. Intech Investment Management LLC acquired a new stake in Travel + Leisure during the 4th quarter worth about $2,287,000. Baker Avenue Asset Management LP boosted its position in shares of Travel + Leisure by 3.4% during the 4th quarter. Baker Avenue Asset Management LP now owns 122,464 shares of the company's stock valued at $8,637,000 after purchasing an additional 4,050 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Travel + Leisure by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,208,918 shares of the company's stock valued at $85,281,000 after purchasing an additional 10,137 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Travel + Leisure by 32.9% during the fourth quarter. Hantz Financial Services Inc. now owns 3,664 shares of the company's stock worth $258,000 after purchasing an additional 907 shares during the period. Finally, LSV Asset Management increased its holdings in Travel + Leisure by 1.1% in the fourth quarter. LSV Asset Management now owns 1,612,657 shares of the company's stock worth $113,741,000 after purchasing an additional 17,377 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TNL shares. Morgan Stanley cut their price target on Travel + Leisure from $80.00 to $78.00 and set an "overweight" rating on the stock in a report on Tuesday, May 12th. Barclays lowered their price objective on shares of Travel + Leisure from $78.00 to $74.00 and set an "equal weight" rating for the company in a research note on Thursday, April 23rd. Weiss Ratings raised shares of Travel + Leisure from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, April 24th. Oppenheimer restated an "outperform" rating and issued a $85.00 price target on shares of Travel + Leisure in a report on Wednesday, February 18th. Finally, Mizuho decreased their price target on shares of Travel + Leisure from $107.00 to $105.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Travel + Leisure has an average rating of "Moderate Buy" and a consensus price target of $85.00.

Travel + Leisure Stock Down 0.7%

Shares of TNL opened at $68.28 on Friday. The business's fifty day moving average is $68.84 and its 200 day moving average is $70.09. Travel + Leisure Co. has a 12-month low of $47.61 and a 12-month high of $81.00. The stock has a market cap of $4.26 billion, a P/E ratio of 19.18, a P/E/G ratio of 0.53 and a beta of 1.17.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.14. Travel + Leisure had a net margin of 5.85% and a negative return on equity of 48.06%. The firm had revenue of $961.00 million for the quarter, compared to the consensus estimate of $954.81 million. During the same quarter in the prior year, the company posted $1.11 earnings per share. The business's revenue was up 2.9% on a year-over-year basis. On average, analysts expect that Travel + Leisure Co. will post 7.46 EPS for the current year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, June 12th. This represents a $2.40 dividend on an annualized basis and a yield of 3.5%. Travel + Leisure's payout ratio is 67.42%.

Insider Buying and Selling

In other news, CFO Erik D. Hoag acquired 1,000 shares of the business's stock in a transaction on Thursday, April 23rd. The shares were purchased at an average cost of $65.67 per share, with a total value of $65,670.00. Following the acquisition, the chief financial officer directly owned 1,000 shares of the company's stock, valued at $65,670. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Denny Marie Post sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $63.83, for a total value of $159,575.00. Following the completion of the transaction, the director directly owned 1,977 shares of the company's stock, valued at approximately $126,191.91. This represents a 55.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 27,536 shares of company stock worth $2,113,247 in 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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