Swiss National Bank Sells 4,700 Shares of Travel + Leisure Co. $TNL

Swiss National Bank lowered its stake in Travel + Leisure Co. (NYSE:TNL - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,600 shares of the company's stock after selling 4,700 shares during the quarter. Swiss National Bank owned about 0.20% of Travel + Leisure worth $6,138,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TNL. AQR Capital Management LLC grew its holdings in Travel + Leisure by 4.3% during the 4th quarter. AQR Capital Management LLC now owns 1,424,035 shares of the company's stock valued at $71,358,000 after buying an additional 58,944 shares in the last quarter. Northern Trust Corp raised its position in Travel + Leisure by 9.6% during the fourth quarter. Northern Trust Corp now owns 1,036,703 shares of the company's stock valued at $52,302,000 after purchasing an additional 90,553 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Travel + Leisure by 8.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company's stock valued at $46,039,000 after purchasing an additional 79,430 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Travel + Leisure by 37.7% in the 1st quarter. LSV Asset Management now owns 956,109 shares of the company's stock worth $44,258,000 after acquiring an additional 261,528 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Travel + Leisure by 25.1% in the 4th quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company's stock worth $45,299,000 after purchasing an additional 180,059 shares during the period. 87.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TNL shares. JMP Securities raised their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" 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 report on Saturday, July 26th. Mizuho upgraded Travel + Leisure from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $63.00 to $72.00 in a report on Thursday, July 24th. Morgan Stanley decreased their target price on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Barclays increased their price target on Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $62.30.

Insider Transactions at Travel + Leisure

In other news, insider Kimberly Marshall sold 16,500 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $60.00, for a total transaction of $990,000.00. Following the completion of the transaction, the insider directly owned 56,736 shares in the company, valued at $3,404,160. This trade represents a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey Myers sold 110,885 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $62.33, for a total value of $6,911,462.05. Following the transaction, the insider directly owned 142,553 shares in the company, valued at approximately $8,885,328.49. The trade was a 43.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 320,174 shares of company stock worth $19,765,874. 3.75% of the stock is owned by company insiders.

Travel + Leisure Stock Performance

Shares of TNL opened at $60.15 on Monday. The stock has a 50 day moving average price of $55.86 and a 200 day moving average price of $51.32. Travel + Leisure Co. has a one year low of $37.77 and a one year high of $63.31. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 0.58 and a beta of 1.43.

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

Travel + Leisure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, September 12th. Travel + Leisure's dividend 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.

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