Travel + Leisure Co. (NYSE:TNL) Holdings Lowered by TCW Group Inc.

Key Points

• TCW Group Inc. has reduced its stake in Travel + Leisure Co. by 18.7%, now holding approximately $7.69 million worth of shares.
• Travel + Leisure declared a quarterly dividend of $0.56 per share, resulting in an annualized yield of 3.55%.
• Analysts have varied ratings on Travel + Leisure, with Mizuho upgrading the stock from "neutral" to "outperform," raising its price target from $63.00 to $72.00.

TCW Group Inc. lowered its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 18.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 166,056 shares of the company's stock after selling 38,084 shares during the quarter. TCW Group Inc. owned about 0.25% of Travel + Leisure worth $7,687,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Travel + Leisure by 210.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,893 shares of the company's stock worth $1,666,000 after purchasing an additional 24,329 shares during the period. Merit Financial Group LLC acquired a new position in Travel + Leisure during the 1st quarter worth approximately $261,000. GAMMA Investing LLC lifted its position in Travel + Leisure by 26.6% during the 1st quarter. GAMMA Investing LLC now owns 2,044 shares of the company's stock worth $95,000 after acquiring an additional 429 shares in the last quarter. Cerity Partners LLC lifted its position in Travel + Leisure by 10.1% during the 1st quarter. Cerity Partners LLC now owns 21,529 shares of the company's stock worth $997,000 after acquiring an additional 1,980 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in shares of Travel + Leisure by 53.1% in the 1st quarter. Crossmark Global Holdings Inc. now owns 68,355 shares of the company's stock valued at $3,164,000 after purchasing an additional 23,700 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Travel + Leisure Trading Down 4.3%

TNL traded down $2.65 during trading on Thursday, reaching $59.26. 304,366 shares of the company were exchanged, compared to its average volume of 696,673. The stock has a market cap of $3.85 billion, a P/E ratio of 10.20, a PEG ratio of 0.60 and a beta of 1.38. The firm has a 50 day moving average of $53.24 and a 200 day moving average of $50.80. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $63.31.

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

Travel + Leisure Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.56 per share. The ex-dividend date was Friday, June 13th. This represents a $2.24 dividend on an annualized basis and a yield of 3.78%. Travel + Leisure's payout ratio is currently 38.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. The Goldman Sachs Group cut their target price on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. JMP Securities upped their target price on Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research report on Thursday, July 24th. Mizuho raised Travel + Leisure from a "neutral" rating to an "outperform" rating and upped their target price for the company from $63.00 to $72.00 in a research report on Thursday, July 24th. Wall Street Zen raised Travel + Leisure from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Barclays upped their price target on Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a research report on Thursday, July 24th. One investment 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.30.

Insider Activity

In other news, insider Kimberly Marshall sold 16,500 shares of the stock in a transaction on Wednesday, July 23rd. The stock was 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 of the company's stock, valued at approximately $3,404,160. This represents a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Denny Marie Post sold 5,500 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $50.20, for a total value of $276,100.00. Following the completion of the transaction, the director directly owned 4,477 shares of the company's stock, valued at approximately $224,745.40. The trade was a 55.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 323,474 shares of company stock worth $19,908,918 over the last 90 days. Insiders own 3.75% of the company's stock.

Travel + Leisure 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.