Travel + Leisure Co. (NYSE:TNL) Shares Sold by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT lessened its stake in Travel + Leisure Co. (NYSE:TNL - Free Report) by 5.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 477,224 shares of the company's stock after selling 26,669 shares during the period. Travel + Leisure accounts for about 6.9% of Iridian Asset Management LLC CT's portfolio, making the stock its 4th largest position. Iridian Asset Management LLC CT owned 0.72% of Travel + Leisure worth $22,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in TNL. Smartleaf Asset Management LLC boosted its holdings in shares of Travel + Leisure by 30.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company's stock valued at $39,000 after buying an additional 181 shares in the last quarter. Cerity Partners LLC raised its position in shares of Travel + Leisure by 1.0% in the 4th quarter. Cerity Partners LLC now owns 19,549 shares of the company's stock valued at $986,000 after purchasing an additional 200 shares during the last quarter. Capital Analysts LLC raised its position in shares of Travel + Leisure by 16.8% in the 4th quarter. Capital Analysts LLC now owns 1,576 shares of the company's stock valued at $80,000 after purchasing an additional 227 shares during the last quarter. KBC Group NV raised its position in shares of Travel + Leisure by 8.1% in the 1st quarter. KBC Group NV now owns 3,128 shares of the company's stock valued at $145,000 after purchasing an additional 235 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its position in shares of Travel + Leisure by 2.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,944 shares of the company's stock valued at $451,000 after purchasing an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on TNL. Barclays decreased their price objective on shares of Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group decreased their price objective on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley reduced their price target on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Travel + Leisure has an average rating of "Moderate Buy" and an average price target of $59.20.

Insider Activity

In other news, Director Denny Marie Post sold 5,500 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $50.20, for a total transaction of $276,100.00. Following the transaction, the director 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey Myers sold 13,922 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $58.00, for a total transaction of $807,476.00. Following the completion of the sale, the insider owned 165,890 shares in the company, valued at approximately $9,621,620. This trade represents a 7.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,285 shares of company stock worth $1,474,767. Corporate insiders own 3.75% of the company's stock.

Travel + Leisure Stock Performance

Travel + Leisure stock traded down $0.58 during trading on Friday, reaching $57.31. The company had a trading volume of 509,851 shares, compared to its average volume of 651,643. The firm's 50-day simple moving average is $50.56 and its 200 day simple moving average is $50.00. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $58.95. The firm has a market capitalization of $3.81 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 0.56 and a beta of 1.38.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.01. Travel + Leisure had a net margin of 10.77% and a negative return on equity of 46.83%. The firm had revenue of $934.00 million for the quarter, compared to analysts' expectations of $933.08 million. During the same quarter last year, the company earned $0.97 EPS. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. Analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.56 per share. The ex-dividend date was Friday, June 13th. This represents a $2.24 annualized dividend and a dividend yield of 3.91%. Travel + Leisure's payout ratio is 37.40%.

About Travel + Leisure

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.