Ranmore Fund Management Ltd Buys 219,637 Shares of Travel + Leisure Co. (NYSE:TNL)

Key Points

• Ranmore Fund Management Ltd significantly increased its stock position in Travel + Leisure Co. by 621.1% during the first quarter, owning 255,000 shares, which makes up 7.1% of its portfolio.
• Analysts have various opinions on Travel + Leisure's stock, with one firm upgrading it to a "buy" rating and others adjusting their price targets, resulting in a consensus target price of $62.30.
• The company recently declared a quarterly dividend of $0.56 per share, representing a dividend yield of 3.9% and a dividend payout ratio of 38.62%.

Ranmore Fund Management Ltd boosted its holdings in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 621.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 255,000 shares of the company's stock after purchasing an additional 219,637 shares during the quarter. Travel + Leisure comprises about 7.1% of Ranmore Fund Management Ltd's investment portfolio, making the stock its 8th largest position. Ranmore Fund Management Ltd owned about 0.38% of Travel + Leisure worth $11,804,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Natixis purchased a new stake in Travel + Leisure during the fourth quarter valued at $37,000. UMB Bank n.a. raised its stake in Travel + Leisure by 54.0% during the first quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock valued at $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 first quarter valued at $54,000. Rossby Financial LCC purchased a new stake in Travel + Leisure during the first quarter valued at $55,000. Finally, Canada Pension Plan Investment Board raised its stake in Travel + Leisure by 333.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company's stock valued at $66,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Travel + Leisure Stock Down 1.4%

TNL stock traded down $0.85 during trading on Thursday, hitting $60.72. The company had a trading volume of 411,346 shares, compared to its average volume of 823,884. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $63.31. The company has a 50 day simple moving average of $55.66 and a 200-day simple moving average of $51.33. The firm has a market capitalization of $3.94 billion, a P/E ratio of 10.47, a PEG ratio of 0.59 and a beta of 1.43.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business posted $1.52 earnings per share. The firm's quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, September 12th. Travel + Leisure's dividend payout ratio (DPR) is presently 38.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Mizuho raised shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and increased their target price for the company from $63.00 to $72.00 in a research note on Thursday, July 24th. Barclays increased their target price on shares of 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 raised shares of Travel + Leisure from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Morgan Stanley reduced their target price on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, JMP Securities increased their target price on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Travel + Leisure currently has an average rating of "Moderate Buy" and an average price target of $62.30.

Insider Transactions at Travel + Leisure

In related news, insider Jeffrey Myers sold 110,885 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 142,553 shares of the company's stock, valued at $8,885,328.49. This trade represents a 43.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Thomas Michael Duncan sold 8,201 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.24, for a total transaction of $510,430.24. Following the transaction, the chief accounting officer directly owned 20,000 shares of the company's stock, valued at $1,244,800. This represents a 29.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 320,174 shares of company stock worth $19,765,874 over the last ninety days. 3.75% of the stock is currently owned by 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.