Travel + Leisure Co. $TNL Shares Purchased by Swedbank AB

Key Points

• Swedbank AB increased its stake in Travel + Leisure Co. by 12.9%, purchasing an additional 88,271 shares, bringing its total ownership to 774,499 shares valued at approximately $39.97 million.
• Wall Street analysts have favorable views on Travel + Leisure, with numerous upgrades and price targets increased, leading to a consensus rating of “Moderate Buy” and an average target price of $62.30.
• The company reported a quarterly earnings miss, with earnings per share of $1.65, slightly below the expected $1.66, while its revenue increased by 3.4% year-over-year to $1.02 billion.

Swedbank AB boosted its holdings in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 12.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 774,499 shares of the company's stock after buying an additional 88,271 shares during the quarter. Swedbank AB owned approximately 1.17% of Travel + Leisure worth $39,972,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Pallas Capital Advisors LLC purchased a new position in Travel + Leisure in the second quarter worth $522,000. Aaron Wealth Advisors LLC purchased a new stake in shares of Travel + Leisure during the 2nd quarter valued at $225,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Travel + Leisure by 7.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 53,599 shares of the company's stock valued at $2,766,000 after purchasing an additional 3,696 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Travel + Leisure by 17.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,202 shares of the company's stock valued at $62,000 after purchasing an additional 182 shares during the last quarter. Finally, Kera Capital Partners Inc. purchased a new stake in shares of Travel + Leisure during the 2nd quarter valued at $392,000. 87.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TNL has been the subject of several analyst reports. Mizuho upgraded Travel + Leisure from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $63.00 to $72.00 in a report 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 report on Thursday, July 24th. Wall Street Zen upgraded Travel + Leisure from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Barclays lifted their price objective on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research note on Thursday, July 24th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.30.

Insiders Place Their Bets

In other Travel + Leisure news, insider Kimberly Marshall sold 16,500 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $60.00, for a total value of $990,000.00. Following the completion of the transaction, the insider owned 56,736 shares in the company, valued at approximately $3,404,160. This represents a 22.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George Herrera sold 2,200 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $60.48, for a total transaction of $133,056.00. Following the completion of the transaction, the director owned 559 shares of the company's stock, valued at approximately $33,808.32. This trade represents a 79.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 320,174 shares of company stock valued at $19,765,874. Insiders own 3.75% of the company's stock.

Travel + Leisure Stock Performance

NYSE TNL traded up $1.05 on Tuesday, reaching $61.70. 68,295 shares of the company's stock traded hands, compared to its average volume of 688,036. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 0.59 and a beta of 1.44. The stock has a 50 day moving average price of $60.73 and a 200-day moving average price of $52.43. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $64.11.

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

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be given a dividend of $0.56 per share. The ex-dividend date is Friday, September 12th. This represents a $2.24 dividend on an annualized basis and a yield of 3.6%. Travel + Leisure's payout ratio is currently 38.62%.

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.