Travel + Leisure Co. $TNL Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Travel + Leisure Co. by 3.2%, bringing its total holdings to approximately 5.17% of the company, valued at $158.8 million.
• Travel + Leisure Co. reported a miss in earnings for the last quarter, with earnings per share of $1.65 against an expectation of $1.66, but had a revenue increase of 3.4% year-over-year.
• The company declared a quarterly dividend of $0.56, representing an annualized dividend yield of 3.7%, with an ex-dividend date set for September 12th.

Invesco Ltd. cut its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 3.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,430,913 shares of the company's stock after selling 113,635 shares during the period. Invesco Ltd. owned approximately 5.17% of Travel + Leisure worth $158,817,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Natixis purchased a new position in Travel + Leisure during the fourth quarter worth about $37,000. UMB Bank n.a. raised its stake in Travel + Leisure by 54.0% during the first quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock worth $54,000 after purchasing an additional 409 shares during the period. N.E.W. Advisory Services LLC purchased a new position in Travel + Leisure during the first quarter worth about $54,000. Rossby Financial LCC acquired a new stake in shares of Travel + Leisure during the first quarter valued at about $55,000. Finally, Canada Pension Plan Investment Board increased its position in shares of Travel + Leisure by 333.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company's stock valued at $66,000 after acquiring an additional 1,000 shares during the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.

Travel + Leisure Stock Up 0.8%

Travel + Leisure stock traded up $0.4950 during trading on Tuesday, reaching $60.4950. The stock had a trading volume of 69,436 shares, compared to its average volume of 693,590. The stock has a market cap of $3.93 billion, a PE ratio of 10.43, a P/E/G ratio of 0.58 and a beta of 1.43. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $63.31. The business has a 50 day moving average price of $56.06 and a 200 day moving average price of $51.36.

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

Travel + Leisure Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be given a $0.56 dividend. The ex-dividend date is Friday, September 12th. This represents a $2.24 annualized dividend and a yield of 3.7%. Travel + Leisure's dividend payout ratio is 38.62%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Morgan Stanley dropped 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. JMP Securities lifted their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of Travel + Leisure from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $63.00 to $72.00 in a research report on Thursday, July 24th. Finally, Barclays lifted their price target on shares of Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a research report on Thursday, July 24th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Travel + Leisure currently has an average rating of "Moderate Buy" and a consensus target price of $62.30.

Insider Transactions at Travel + Leisure

In related news, insider Geoffrey Richards sold 124,454 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $62.56, for a total value of $7,785,842.24. Following the completion of the sale, the insider owned 118,718 shares in the company, valued at $7,426,998.08. This represents a 51.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Myers sold 110,885 shares of the company's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the completion of the sale, the insider owned 142,553 shares of the company's stock, valued at approximately $8,885,328.49. This trade represents a 43.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 320,174 shares of company stock worth $19,765,874 over the last 90 days. Company insiders own 3.75% of the company's stock.

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.