Millennium Management LLC Boosts Stake in Travel + Leisure Co. (NYSE:TNL)

Millennium Management LLC lifted its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 167.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,160 shares of the company's stock after buying an additional 112,883 shares during the period. Millennium Management LLC owned about 0.26% of Travel + Leisure worth $9,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Travel + Leisure during the fourth quarter valued at approximately $45,804,000. Invesco Ltd. boosted its position in Travel + Leisure by 4.8% during the fourth quarter. Invesco Ltd. now owns 3,544,548 shares of the company's stock valued at $178,822,000 after purchasing an additional 163,804 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Travel + Leisure by 15.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company's stock valued at $46,169,000 after buying an additional 122,173 shares during the period. Trexquant Investment LP raised its stake in Travel + Leisure by 177.5% in the fourth quarter. Trexquant Investment LP now owns 167,888 shares of the company's stock valued at $8,470,000 after buying an additional 107,389 shares during the period. Finally, Barclays PLC raised its stake in Travel + Leisure by 80.4% in the third quarter. Barclays PLC now owns 225,326 shares of the company's stock valued at $10,383,000 after buying an additional 100,440 shares during the period. 87.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TNL has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Truist Financial increased their target price on Travel + Leisure from $61.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Barclays lowered their target price on Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating on the stock in a research note on Thursday, April 24th. Mizuho reiterated a "neutral" rating and set a $64.00 target price (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group lowered their price objective 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. One research 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $59.20.

Insider Activity at Travel + Leisure

In other news, insider Michael Dean Brown bought 2,000 shares of the stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the completion of the purchase, the insider now directly owns 408,706 shares in the company, valued at $19,070,221.96. This represents a 0.49% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Denny Marie Post sold 5,500 shares of Travel + Leisure 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 owns 4,477 shares of the company's stock, valued at approximately $224,745.40. This trade represents a 55.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.75% of the stock is owned by insiders.

Travel + Leisure Stock Performance

Shares of TNL traded down $0.08 during mid-day trading on Thursday, reaching $48.39. 211,393 shares of the company were exchanged, compared to its average volume of 639,390. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $58.95. The stock has a market capitalization of $3.21 billion, a PE ratio of 8.29, a PEG ratio of 0.67 and a beta of 1.41. The business has a 50 day simple moving average of $45.52 and a two-hundred day simple moving average of $50.49.

Travel + Leisure (NYSE:TNL - Get Free Report) last released 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 negative return on equity of 45.75% and a net margin of 10.63%. The business had revenue of $934.00 million during the quarter, compared to analysts' expectations of $933.08 million. During the same quarter last year, the firm posted $0.97 earnings per share. The firm's revenue was up 2.0% on a year-over-year basis. On average, analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.56 per share. The ex-dividend date is Friday, June 13th. This represents a $2.24 annualized dividend and a dividend yield of 4.63%. Travel + Leisure's payout ratio is 37.40%.

Travel + Leisure Company 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.