Travel + Leisure Co. $TNL Shares Acquired by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Travel + Leisure Co. by 3.3%, acquiring 34,615 shares, bringing its total ownership to approximately 1.61% worth about $49.6 million.
• Travel + Leisure announced a quarterly dividend of $0.56 per share, representing an annualized yield of 3.6%, set to be paid on September 30th.
• Recent earnings showed Travel + Leisure reporting EPS of $1.65, slightly missing the consensus estimate, with a revenue increase of 3.4% year-over-year.

Northern Trust Corp grew its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,071,318 shares of the company's stock after purchasing an additional 34,615 shares during the quarter. Northern Trust Corp owned approximately 1.61% of Travel + Leisure worth $49,591,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV boosted its position in shares of Travel + Leisure by 8.1% in the 1st quarter. KBC Group NV now owns 3,128 shares of the company's stock valued at $145,000 after purchasing an additional 235 shares during the period. Cetera Investment Advisers lifted its stake in Travel + Leisure by 3.0% in the first quarter. Cetera Investment Advisers now owns 10,789 shares of the company's stock valued at $499,000 after buying an additional 317 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Travel + Leisure by 54.0% in the first quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock valued at $54,000 after acquiring an additional 409 shares during the period. GAMMA Investing LLC grew its position in shares of Travel + Leisure by 26.6% during the first quarter. GAMMA Investing LLC now owns 2,044 shares of the company's stock worth $95,000 after acquiring an additional 429 shares during the last quarter. Finally, Xponance Inc. grew its position in shares of Travel + Leisure by 6.8% during the first quarter. Xponance Inc. now owns 8,247 shares of the company's stock worth $382,000 after acquiring an additional 527 shares during the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. JMP Securities upped their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research report on Thursday, July 24th. Barclays upped their price objective on Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a research note on Thursday, July 24th. Wall Street Zen downgraded Travel + Leisure from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. Finally, Mizuho raised Travel + Leisure from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $63.00 to $72.00 in a report on Thursday, July 24th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Travel + Leisure has a consensus rating of "Moderate Buy" and an average target price of $62.30.

Travel + Leisure Stock Performance

TNL traded up $0.55 during trading on Monday, reaching $63.23. The company's stock had a trading volume of 1,096,009 shares, compared to its average volume of 672,607. The company's fifty day moving average price is $58.25 and its 200-day moving average price is $51.72. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $63.52. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 0.61 and a beta of 1.44.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business earned $1.52 earnings per share. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. Equities analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, September 12th. Travel + Leisure's dividend payout ratio (DPR) is presently 38.62%.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, insider Michael Dean Brown bought 1,500 shares of the company's stock in a transaction on Friday, August 1st. The stock was purchased at an average cost of $58.39 per share, for a total transaction of $87,585.00. Following the acquisition, the insider owned 427,821 shares of the company's stock, valued at $24,980,468.19. The trade was a 0.35% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Geoffrey Richards sold 124,454 shares of Travel + Leisure stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $62.56, for a total transaction of $7,785,842.24. Following the transaction, the insider owned 118,718 shares of the company's stock, valued at approximately $7,426,998.08. The trade was a 51.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 320,174 shares of company stock valued at $19,765,874 in the last 90 days. 3.75% of the stock is owned by corporate 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.