Point72 Asset Management L.P. Sells 149,864 Shares of Travel + Leisure Co. (NYSE:TNL)

Point72 Asset Management L.P. reduced its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 91.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,615 shares of the company's stock after selling 149,864 shares during the quarter. Point72 Asset Management L.P.'s holdings in Travel + Leisure were worth $687,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Travel + Leisure in the 4th quarter worth $45,804,000. Nuveen Asset Management LLC lifted its stake in Travel + Leisure by 25.1% during the 4th quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company's stock valued at $45,299,000 after acquiring an additional 180,059 shares during the period. Invesco Ltd. boosted its holdings in shares of Travel + Leisure by 4.8% during the 4th quarter. Invesco Ltd. now owns 3,544,548 shares of the company's stock valued at $178,822,000 after acquiring an additional 163,804 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Travel + Leisure by 15.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company's stock worth $46,169,000 after acquiring an additional 122,173 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Travel + Leisure by 167.8% during the fourth quarter. Millennium Management LLC now owns 180,160 shares of the company's stock valued at $9,089,000 after purchasing an additional 112,883 shares during the last quarter. Institutional investors own 87.54% of the company's stock.

Travel + Leisure Stock Performance

Shares of NYSE TNL traded down $0.38 during midday trading on Wednesday, reaching $48.62. The stock had a trading volume of 75,931 shares, compared to its average volume of 639,419. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $58.95. The stock has a 50-day moving average of $45.50 and a 200-day moving average of $50.51. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 8.34, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.01. The business had revenue of $934.00 million during the quarter, compared to analyst estimates of $933.08 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. Travel + Leisure's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.97 EPS. As a group, analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.56 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.24 dividend on an annualized basis and a yield of 4.61%. Travel + Leisure's dividend payout ratio is currently 37.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TNL shares. Mizuho reaffirmed a "neutral" rating and issued a $64.00 target price (up previously from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Barclays cut their price target on Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating for the company in a research note on Thursday, April 24th. Morgan Stanley dropped 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. Truist Financial upped their target price on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a report on Friday, March 7th. Finally, Tigress Financial lifted their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.20.

Insider Buying and Selling

In other Travel + Leisure news, Director George Herrera sold 6,336 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was 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 owns 2,759 shares in the company, valued at $129,121.20. The trade was a 69.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Denny Marie Post sold 5,500 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $50.20, for a total value of $276,100.00. Following the sale, the director now directly owns 4,477 shares of the company's stock, valued at $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 company insiders.

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.