Nuveen Asset Management LLC Purchases 180,059 Shares of Travel + Leisure Co. (NYSE:TNL)

Nuveen Asset Management LLC increased its stake in Travel + Leisure Co. (NYSE:TNL - Free Report) by 25.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 897,903 shares of the company's stock after purchasing an additional 180,059 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.31% of Travel + Leisure worth $45,299,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TNL. Mubadala Investment Co PJSC bought a new stake in Travel + Leisure during the 4th quarter valued at $2,343,000. Millennium Management LLC grew its position in Travel + Leisure by 167.8% in the fourth quarter. Millennium Management LLC now owns 180,160 shares of the company's stock worth $9,089,000 after acquiring an additional 112,883 shares in the last quarter. Gotham Asset Management LLC grew its position 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 acquiring an additional 8,040 shares in the last quarter. Ethic Inc. grew its position in Travel + Leisure by 95.5% in the fourth quarter. Ethic Inc. now owns 12,530 shares of the company's stock worth $632,000 after acquiring an additional 6,121 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Travel + Leisure in the fourth quarter worth $377,000. Institutional investors own 87.54% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on TNL shares. The Goldman Sachs Group lowered their price target on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Morgan Stanley cut their price objective on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Tigress Financial upped their price objective on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Truist Financial raised their price target on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Finally, Bank of America raised shares of Travel + Leisure from an "underperform" rating to a "buy" rating and raised their price target for the company from $40.00 to $60.00 in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.20.

Travel + Leisure Price Performance

Shares of Travel + Leisure stock opened at $50.77 on Tuesday. The company's fifty day simple moving average is $45.39 and its 200-day simple moving average is $50.64. The stock has a market capitalization of $3.37 billion, a PE ratio of 8.69, a P/E/G ratio of 0.67 and a beta of 1.41. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $58.95.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.10 by $0.01. The firm had revenue of $934.00 million for the quarter, compared to the consensus estimate of $933.08 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The company's revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.97 EPS. As a group, research analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.56 dividend. This is an increase from Travel + Leisure's previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend was Monday, March 17th. Travel + Leisure's payout ratio is currently 37.40%.

Insider Buying and Selling at Travel + Leisure

In related news, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the completion of the transaction, the director now directly owns 2,759 shares of the company's stock, valued at approximately $129,121.20. The trade was a 69.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Denny Marie Post sold 5,500 shares of Travel + Leisure stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $50.20, for a total transaction of $276,100.00. Following the transaction, the director now directly owns 4,477 shares of the company's stock, valued at approximately $224,745.40. This 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 insiders.

Travel + Leisure 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.

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