Retirement Systems of Alabama Sells 14,297 Shares of Travel + Leisure Co. $TNL

Key Points

• Retirement Systems of Alabama cut its Travel + Leisure stake by 7.1%, selling 14,297 shares and retaining 187,903 shares valued at approximately $14.36 million. Institutional investors collectively own 87.54% of the company.
• Travel + Leisure reported quarterly EPS of $1.88, matching estimates, while revenue rose 4.4% year over year to $1.06 billion. The company declared a quarterly dividend of $0.60 per share, representing a 3.2% annualized yield.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $86.90 versus the stock’s reported price of $74.70. However, insiders sold 95,135 shares worth approximately $7.02 million over the past 90 days.

Retirement Systems of Alabama decreased its position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 187,903 shares of the company's stock after selling 14,297 shares during the period. Retirement Systems of Alabama owned approximately 0.31% of Travel + Leisure worth $14,361,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Baker Avenue Asset Management LP raised its stake in Travel + Leisure by 3.9% during the 2nd quarter. Baker Avenue Asset Management LP now owns 127,667 shares of the company's stock worth $9,758,000 after buying an additional 4,828 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Travel + Leisure by 360.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,004 shares of the company's stock valued at $1,070,000 after acquiring an additional 10,964 shares during the period. Elevation Wealth Partners LLC grew its stake in Travel + Leisure by 413.3% in the second quarter. Elevation Wealth Partners LLC now owns 462 shares of the company's stock valued at $35,000 after acquiring an additional 372 shares during the period. Bank of America Corp DE increased its holdings in shares of Travel + Leisure by 4.7% in the first quarter. Bank of America Corp DE now owns 204,503 shares of the company's stock worth $14,150,000 after acquiring an additional 9,193 shares in the last quarter. Finally, Edgestream Partners L.P. increased its holdings in shares of Travel + Leisure by 30.9% in the first quarter. Edgestream Partners L.P. now owns 135,102 shares of the company's stock worth $9,348,000 after acquiring an additional 31,897 shares in the last quarter. Institutional investors own 87.54% of the company's stock.

Insider Activity

In related news, insider Geoffrey Richards sold 33,744 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $75.65, for a total transaction of $2,552,733.60. Following the completion of the transaction, the insider owned 1,600 shares in the company, valued at approximately $121,040. This represents a 95.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kimberly Marshall sold 32,691 shares of the firm's stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $75.00, for a total transaction of $2,451,825.00. The SEC filing for this sale provides additional information. Insiders have sold 95,135 shares of company stock worth $7,022,699 over the last ninety days. Insiders own 4.01% of the company's stock.

Travel + Leisure Price Performance

TNL stock opened at $74.70 on Friday. The stock has a market capitalization of $4.57 billion, a P/E ratio of 20.41, a P/E/G ratio of 0.51 and a beta of 1.17. The business has a 50-day moving average of $75.10 and a 200-day moving average of $72.00. Travel + Leisure Co. has a fifty-two week low of $57.86 and a fifty-two week high of $81.00.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.88. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.Travel + Leisure's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. Equities analysts expect that Travel + Leisure Co. will post 7.68 EPS for the current year.

Travel + Leisure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 16th. Travel + Leisure's dividend payout ratio (DPR) is currently 65.57%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TNL. Citigroup reiterated a "market outperform" rating on shares of Travel + Leisure in a report on Thursday, July 23rd. Zacks Research upgraded shares of Travel + Leisure from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Travel + Leisure in a research note on Tuesday, July 21st. Morgan Stanley upped their price target on shares of Travel + Leisure from $78.00 to $83.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Finally, The Goldman Sachs Group upgraded shares of Travel + Leisure from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $86.90.

Travel + Leisure Company Profile

Travel + Leisure Co NYSE: TNL is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.

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