Travel + Leisure Co. $TNL Position Decreased by Copeland Capital Management LLC

Key Points

• Copeland Capital Management LLC reduced its position in Travel + Leisure Co. by 8.3%, now holding 1,399,776 shares, which makes up 1.5% of its portfolio.
• Insider selling occurred with Director George Herrera and CAO Thomas Michael Duncan offloading a combined total of 10,401 shares, reflecting a significant decrease in their ownership stakes.
• Travel + Leisure recently declared a quarterly dividend of $0.56, equating to an annualized dividend yield of 3.6% and a payout ratio of 38.62%.

Copeland Capital Management LLC cut its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 8.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,399,776 shares of the company's stock after selling 126,593 shares during the quarter. Travel + Leisure accounts for 1.5% of Copeland Capital Management LLC's portfolio, making the stock its 15th largest position. Copeland Capital Management LLC owned about 2.11% of Travel + Leisure worth $72,243,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of TNL. Greenleaf Trust bought a new position in Travel + Leisure during the second quarter valued at approximately $205,000. Janney Montgomery Scott LLC grew its stake in shares of Travel + Leisure by 3.8% in the second quarter. Janney Montgomery Scott LLC now owns 51,276 shares of the company's stock worth $2,646,000 after acquiring an additional 1,879 shares during the last quarter. Kendall Capital Management grew its stake in shares of Travel + Leisure by 10.3% in the second quarter. Kendall Capital Management now owns 24,555 shares of the company's stock worth $1,267,000 after acquiring an additional 2,300 shares during the last quarter. Oliver Luxxe Assets LLC grew its stake in shares of Travel + Leisure by 1.4% in the second quarter. Oliver Luxxe Assets LLC now owns 42,690 shares of the company's stock worth $2,203,000 after acquiring an additional 576 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Travel + Leisure by 10.8% in the second quarter. GAMMA Investing LLC now owns 2,264 shares of the company's stock worth $117,000 after acquiring an additional 220 shares during the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director George Herrera sold 2,200 shares of Travel + Leisure 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 sale, the director directly owned 559 shares of the company's stock, valued at approximately $33,808.32. This trade represents a 79.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Thomas Michael Duncan sold 8,201 shares of Travel + Leisure stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.24, for a total value of $510,430.24. Following the completion of the transaction, the chief accounting officer directly owned 20,000 shares in the company, valued at approximately $1,244,800. This represents a 29.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 320,174 shares of company stock valued at $19,765,874 in the last ninety days. Insiders own 3.75% of the company's stock.

Travel + Leisure Trading Up 2.4%

NYSE TNL opened at $61.51 on Friday. The company has a market cap of $3.99 billion, a PE ratio of 10.61, a PEG ratio of 0.58 and a beta of 1.47. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $64.11. The stock has a 50 day moving average of $61.09 and a 200-day moving average of $53.04.

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

Travel + Leisure Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 12th were given a $0.56 dividend. The ex-dividend date was Friday, September 12th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.6%. Travel + Leisure's dividend payout ratio (DPR) is presently 38.62%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TNL. JMP Securities lifted 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 raised Travel + Leisure from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. Mizuho upgraded Travel + Leisure from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $63.00 to $72.00 in a research report on Thursday, July 24th. Finally, Barclays lifted their price objective on Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research report on Thursday, July 24th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.30.

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.

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