Nuveen LLC Purchases Shares of 888,178 Travel + Leisure Co. $TNL

Key Points

• Nuveen LLC recently acquired a $41.11 million stake in Travel + Leisure Co., purchasing 888,178 shares and holding 1.34% of the company.
• The company reported a quarterly earnings of $1.65 per share, slightly missing estimates, with revenue increasing 3.4% year-over-year to $1.02 billion.
• Travel + Leisure has declared a quarterly dividend of $0.56, translating to an annual yield of 3.7%, set to be paid on September 30th.

Nuveen LLC acquired a new stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 888,178 shares of the company's stock, valued at approximately $41,114,000. Nuveen LLC owned approximately 1.34% of Travel + Leisure as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Natixis bought a new stake in Travel + Leisure during the fourth quarter worth $37,000. UMB Bank n.a. lifted its holdings in Travel + Leisure by 54.0% during the 1st quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock worth $54,000 after purchasing an additional 409 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Travel + Leisure during the 1st quarter worth about $54,000. Rossby Financial LCC purchased a new stake in Travel + Leisure during the 1st quarter worth about $55,000. Finally, Canada Pension Plan Investment Board increased its stake in Travel + Leisure by 333.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company's stock worth $66,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 87.54% of the company's stock.

Insider Buying and Selling

In related news, insider Michael Dean Brown purchased 1,500 shares of the business's stock in a transaction on Friday, August 1st. The stock was acquired at an average price of $58.39 per share, with a total value of $87,585.00. Following the completion of the acquisition, the insider owned 427,821 shares of the company's stock, valued at approximately $24,980,468.19. This trade represents a 0.35% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Myers sold 110,885 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $62.33, for a total value of $6,911,462.05. Following the sale, the insider directly owned 142,553 shares of the company's stock, valued at $8,885,328.49. This represents a 43.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 320,174 shares of company stock valued at $19,765,874 over the last ninety days. 3.75% of the stock is owned by insiders.

Travel + Leisure Stock Up 0.9%

Shares of Travel + Leisure stock traded up $0.5260 on Thursday, reaching $59.2560. The company's stock had a trading volume of 787,247 shares, compared to its average volume of 767,634. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 0.56 and a beta of 1.43. The firm's fifty day simple moving average is $56.62 and its two-hundred day simple moving average is $51.50. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $63.31.

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

Travel + Leisure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $2.24 annualized dividend and a dividend yield of 3.8%. Travel + Leisure's payout ratio is presently 38.62%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Mizuho upgraded Travel + Leisure from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $63.00 to $72.00 in a research note on Thursday, July 24th. JMP Securities increased their price objective on 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 raised their price target on Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen upgraded Travel + Leisure from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $62.30.

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.