Maverick Capital Ltd. purchased a new position in Travel + Leisure Co. (NYSE:TNL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 17,644 shares of the company's stock, valued at approximately $1,221,000.
Other large investors have also recently made changes to their positions in the company. Baron Wealth Management LLC boosted its position in Travel + Leisure by 2.8% during the first quarter. Baron Wealth Management LLC now owns 4,953 shares of the company's stock valued at $343,000 after purchasing an additional 133 shares in the last quarter. Diversified Trust Co raised its holdings in Travel + Leisure by 0.7% in the first quarter. Diversified Trust Co now owns 19,393 shares of the company's stock worth $1,342,000 after purchasing an additional 137 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Travel + Leisure by 2.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,790 shares of the company's stock worth $408,000 after purchasing an additional 148 shares in the last quarter. Evolve Private Wealth LLC lifted its position in shares of Travel + Leisure by 1.7% during the first quarter. Evolve Private Wealth LLC now owns 9,270 shares of the company's stock valued at $641,000 after buying an additional 156 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Travel + Leisure by 19.7% during the second quarter. Geneos Wealth Management Inc. now owns 1,148 shares of the company's stock valued at $59,000 after buying an additional 189 shares during the last quarter. 87.54% of the stock is owned by institutional investors.
Travel + Leisure Stock Performance
Shares of NYSE TNL opened at $78.39 on Wednesday. Travel + Leisure Co. has a fifty-two week low of $56.66 and a fifty-two week high of $81.00. The company has a market cap of $4.80 billion, a PE ratio of 21.42, a P/E/G ratio of 0.57 and a beta of 1.16. The business has a 50-day simple moving average of $73.12 and a two-hundred day simple moving average of $71.73.
Travel + Leisure (NYSE:TNL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.88. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.65 earnings per share. On average, sell-side analysts predict that Travel + Leisure Co. will post 7.58 earnings per share for the current fiscal year.
Travel + Leisure Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, June 12th. Travel + Leisure's payout ratio is currently 65.57%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on TNL. The Goldman Sachs Group raised shares of Travel + Leisure from a "neutral" rating to a "buy" rating and set a $85.00 price objective on the stock in a research report on Monday, June 1st. Zacks Research raised shares of Travel + Leisure from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. Wells Fargo & Company raised their target price on shares of Travel + Leisure from $87.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Morgan Stanley lifted their price target on shares of Travel + Leisure from $78.00 to $83.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Travel + Leisure in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $86.90.
View Our Latest Stock Report on Travel + Leisure
Insider Activity at Travel + Leisure
In other Travel + Leisure news, insider Kimberly Marshall sold 32,691 shares of the firm's stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $75.00, for a total value of $2,451,825.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Geoffrey Richards sold 33,744 shares of Travel + Leisure stock in a transaction on Monday, July 27th. The stock was sold at an average price of $75.65, for a total transaction of $2,552,733.60. Following the sale, the insider owned 1,600 shares of the company's stock, valued at $121,040. The trade was a 95.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 97,435 shares of company stock worth $7,166,474. 4.01% of the stock is owned by company insiders.
About Travel + Leisure
(
Free Report)
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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