Ruffer LLP Has $6.38 Million Position in Travel + Leisure Co. $TNL

Key Points

• Ruffer LLP increased its Travel + Leisure stake by 1,014% in the second quarter, owning 83,502 shares valued at approximately $6.38 million. Institutional investors collectively hold 87.54% of the company.
• Travel + Leisure reported quarterly EPS of $1.88, matching estimates, while revenue of $1.06 billion exceeded expectations and increased 4.4% year over year.
• The company declared a quarterly dividend of $0.60, equivalent to $2.40 annually and a 3.2% yield. Analysts maintain a consensus “Buy” rating with an average price target of $86.90, above the reported $74.70 share price.

Ruffer LLP raised its holdings in Travel + Leisure Co. (NYSE:TNL - Free Report) by 1,014.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,502 shares of the company's stock after acquiring an additional 76,006 shares during the quarter. Ruffer LLP owned about 0.14% of Travel + Leisure worth $6,375,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TNL. Invesco Ltd. raised its position in shares of Travel + Leisure by 4.2% during the 4th quarter. Invesco Ltd. now owns 3,632,657 shares of the company's stock valued at $256,211,000 after acquiring an additional 146,484 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Travel + Leisure by 46.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company's stock valued at $138,449,000 after purchasing an additional 855,151 shares during the period. LSV Asset Management boosted its position in shares of Travel + Leisure by 1.1% in the 4th quarter. LSV Asset Management now owns 1,612,657 shares of the company's stock worth $113,741,000 after purchasing an additional 17,377 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Travel + Leisure by 21.7% in the 1st quarter. Quantinno Capital Management LP now owns 1,305,515 shares of the company's stock worth $90,329,000 after purchasing an additional 232,711 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Travel + Leisure by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,208,918 shares of the company's stock worth $85,281,000 after purchasing an additional 10,137 shares during the period. Institutional investors and hedge funds own 87.54% of the company's stock.

Travel + Leisure Stock Up 0.0%

Shares of TNL stock opened at $74.70 on Friday. Travel + Leisure Co. has a 12-month low of $57.86 and a 12-month high of $81.00. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 0.51 and a beta of 1.17. The firm has a fifty day moving average of $75.10 and a 200-day moving average of $72.00.

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

Travel + Leisure Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Geoffrey Richards sold 33,744 shares of the firm's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $75.65, for a total transaction of $2,552,733.60. Following the sale, the insider owned 1,600 shares of the company's stock, valued at $121,040. This trade represents a 95.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George Herrera sold 500 shares of Travel + Leisure stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total value of $37,580.00. Following the transaction, the director owned 1,353 shares in the company, valued at $101,691.48. This trade represents a 26.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 95,135 shares of company stock worth $7,022,699 over the last ninety days. 4.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TNL has been the subject of a number of recent analyst reports. Zacks Research upgraded Travel + Leisure from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Morgan Stanley raised their target price on Travel + Leisure from $78.00 to $83.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Mizuho boosted their target price on Travel + Leisure from $105.00 to $107.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Citigroup reaffirmed a "market outperform" rating on shares of Travel + Leisure in a research note on Thursday, July 23rd. Finally, Barclays upped their price target on Travel + Leisure from $74.00 to $77.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $86.90.

About Travel + Leisure

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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