Travel + Leisure Co. $TNL Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems cut its Travel + Leisure stake by 69.8% in the fourth quarter, selling 34,300 shares and leaving it with 14,867 shares valued at about $1.05 million.
• Travel + Leisure reported better-than-expected quarterly results, with EPS of $1.45 versus $1.31 expected and revenue of $961 million, up 2.9% year over year. Analysts still expect full-year EPS of 7.46.
• The company raised its quarterly dividend to $0.60 per share from $0.56, implying an annualized yield of 3.8%. Meanwhile, analysts remain broadly constructive, with a consensus rating of “Moderate Buy” and a $85 average price target.

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 69.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,867 shares of the company's stock after selling 34,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Travel + Leisure were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TNL. Envestnet Asset Management Inc. lifted its position in Travel + Leisure by 231.1% in the third quarter. Envestnet Asset Management Inc. now owns 691,599 shares of the company's stock valued at $41,143,000 after buying an additional 482,731 shares during the last quarter. Compass Wealth Management LLC acquired a new position in Travel + Leisure in the third quarter valued at about $1,707,000. JPMorgan Chase & Co. lifted its position in Travel + Leisure by 15.3% in the third quarter. JPMorgan Chase & Co. now owns 354,598 shares of the company's stock valued at $21,096,000 after buying an additional 47,170 shares during the last quarter. ING Groep NV lifted its position in Travel + Leisure by 115.0% in the third quarter. ING Groep NV now owns 63,000 shares of the company's stock valued at $3,748,000 after buying an additional 33,700 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Travel + Leisure in the fourth quarter valued at about $11,657,000. Institutional investors and hedge funds own 87.54% of the company's stock.

Travel + Leisure Stock Performance

Shares of Travel + Leisure stock opened at $62.57 on Friday. Travel + Leisure Co. has a one year low of $46.75 and a one year high of $81.00. The company has a market cap of $3.91 billion, a PE ratio of 17.58, a P/E/G ratio of 0.48 and a beta of 1.17. The business has a 50-day simple moving average of $69.85 and a 200-day simple moving average of $69.91.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.14. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 5.85%.The business had revenue of $961.00 million during the quarter, compared to the consensus estimate of $954.81 million. During the same period in the previous year, the company posted $1.11 earnings per share. The business's revenue for the quarter was up 2.9% on a year-over-year basis. On average, sell-side analysts predict that Travel + Leisure Co. will post 7.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 20th were given a dividend of $0.60 per share. This is a boost from Travel + Leisure's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, March 20th. Travel + Leisure's dividend payout ratio is presently 67.42%.

Analyst Ratings Changes

A number of research analysts have commented on TNL shares. Weiss Ratings raised shares of Travel + Leisure from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, April 24th. Citigroup reaffirmed an "outperform" rating on shares of Travel + Leisure in a research report on Thursday, February 19th. Wall Street Zen cut shares of Travel + Leisure from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. The Goldman Sachs Group upped their target price on shares of Travel + Leisure from $71.00 to $81.00 and gave the company a "neutral" rating in a research report on Thursday, February 19th. Finally, Stifel Nicolaus set a $89.00 target price on shares of Travel + Leisure in a research report on Wednesday, February 18th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Travel + Leisure has a consensus rating of "Moderate Buy" and a consensus price target of $85.00.

Insider Buying and Selling

In other news, insider Michael Dean Brown sold 66,860 shares of the business's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $74.03, for a total transaction of $4,949,645.80. Following the completion of the transaction, the insider directly owned 427,821 shares of the company's stock, valued at approximately $31,671,588.63. The trade was a 13.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Amandine Robin-Caplan sold 3,904 shares of the business's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $74.61, for a total value of $291,277.44. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 124,238 shares of company stock valued at $9,295,629. Corporate insiders own 4.01% of the company's stock.

About Travel + Leisure

Travel + Leisure Co NYSE: TNL is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.

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