AQR Capital Management LLC Has $83.24 Million Position in Travel + Leisure Co. $TNL

Key Points

• AQR Capital Management LLC increased its holdings in Travel + Leisure Co. by 28.3% during the 1st quarter, now owning approximately 2.75% of the company valued at $83.2 million.
• Analysts have raised target prices for Travel + Leisure, with Barclays adjusting it from $39 to $54 and JMP Securities from $60 to $70, indicating a general optimistic sentiment despite varying ratings.
• Travel + Leisure recently announced a quarterly dividend of $0.56, with a payout ratio of 38.62%, reflecting a dividend yield of 3.6% for investors.

AQR Capital Management LLC increased its holdings in Travel + Leisure Co. (NYSE:TNL - Free Report) by 28.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,827,453 shares of the company's stock after buying an additional 403,418 shares during the period. AQR Capital Management LLC owned about 2.75% of Travel + Leisure worth $83,241,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TNL. Northern Trust Corp boosted its stake in shares of Travel + Leisure by 3.3% during the 1st quarter. Northern Trust Corp now owns 1,071,318 shares of the company's stock worth $49,591,000 after purchasing an additional 34,615 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Travel + Leisure by 8.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company's stock worth $46,039,000 after purchasing an additional 79,430 shares in the last quarter. LSV Asset Management raised its stake 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 valued at $44,258,000 after acquiring an additional 261,528 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Travel + Leisure by 25.1% during the fourth 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 in the last quarter. Finally, Nuveen LLC acquired a new position in Travel + Leisure during the 1st quarter worth approximately $41,114,000. Institutional investors and hedge funds own 87.54% of the company's stock.

Insider Buying and Selling

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 directly owned 118,718 shares in the company, valued at approximately $7,426,998.08. This represents a 51.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jeffrey Myers sold 110,885 shares of the company's 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 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. Over the last 90 days, insiders sold 320,174 shares of company stock worth $19,765,874. Insiders own 3.75% of the company's stock.

Analyst Upgrades and Downgrades

TNL has been the subject of a number of analyst reports. Wall Street Zen downgraded Travel + Leisure from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. JMP Securities increased their price objective 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. Barclays increased their price objective on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a report on Thursday, July 24th. Finally, Mizuho raised Travel + Leisure from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $63.00 to $72.00 in a research note on Thursday, July 24th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $62.30.

Travel + Leisure Stock Up 2.7%

Shares of Travel + Leisure stock traded up $1.67 during trading on Thursday, hitting $63.19. The stock had a trading volume of 639,984 shares, compared to its average volume of 597,430. The stock has a 50 day simple moving average of $60.10 and a 200 day simple moving average of $52.16. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $64.11. The company has a market capitalization of $4.10 billion, a PE ratio of 10.90, a P/E/G ratio of 0.60 and a beta of 1.44.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its 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). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%.The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $1.52 EPS. As a group, equities analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 3.5%. Travel + Leisure's dividend payout ratio is presently 38.62%.

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.