Millennium Management LLC Increases Holdings in Travel + Leisure Co. (NYSE:TNL)

Millennium Management LLC increased its holdings in Travel + Leisure Co. (NYSE:TNL - Free Report) by 167.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,160 shares of the company's stock after purchasing an additional 112,883 shares during the period. Millennium Management LLC owned approximately 0.26% of Travel + Leisure worth $9,089,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Gotham Asset Management LLC boosted its stake in Travel + Leisure by 27.4% in the fourth quarter. Gotham Asset Management LLC now owns 37,383 shares of the company's stock worth $1,886,000 after purchasing an additional 8,040 shares in the last quarter. Ethic Inc. increased its stake in shares of Travel + Leisure by 95.5% in the 4th quarter. Ethic Inc. now owns 12,530 shares of the company's stock valued at $632,000 after acquiring an additional 6,121 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Travel + Leisure during the fourth quarter worth $377,000. Cetera Investment Advisers grew its stake in Travel + Leisure by 22.5% in the fourth quarter. Cetera Investment Advisers now owns 10,472 shares of the company's stock valued at $528,000 after acquiring an additional 1,926 shares during the period. Finally, Centiva Capital LP acquired a new stake in Travel + Leisure during the 4th quarter worth approximately $352,000. 87.54% of the stock is currently owned by institutional investors.

Travel + Leisure Stock Performance

Shares of TNL traded up $0.07 during mid-day trading on Friday, reaching $48.77. 60,569 shares of the company were exchanged, compared to its average volume of 638,998. The business has a 50 day simple moving average of $45.52 and a two-hundred day simple moving average of $50.46. 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 $3.24 billion, a PE ratio of 8.35, a PEG ratio of 0.67 and a beta of 1.41.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, beating 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 firm had revenue of $934.00 million for the quarter, compared to analyst estimates of $933.08 million. During the same quarter in the prior year, the business earned $0.97 earnings per share. The business's quarterly revenue was up 2.0% compared to the same quarter last year. On average, analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Friday, June 13th. Travel + Leisure's payout ratio is currently 37.40%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TNL. Truist Financial boosted their target price on Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Morgan Stanley cut their price objective on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group decreased their target price on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Mizuho reaffirmed a "neutral" rating and issued a $64.00 price target (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Finally, Barclays reduced their target price on Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating on the stock in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.20.

Insider Buying and Selling at Travel + Leisure

In related news, Director George Herrera sold 6,336 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total value of $296,524.80. Following the completion of the sale, the director now directly owns 2,759 shares of the company's stock, valued at approximately $129,121.20. This represents a 69.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Denny Marie Post sold 5,500 shares of the firm's 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 transaction, the director now owns 4,477 shares in the company, 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 currently owned by company insiders.

About Travel + Leisure

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.