Hotchkis & Wiley Capital Management LLC Lowers Holdings in Travel + Leisure Co. $TNL

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its position in Travel + Leisure Co. by 16.3%, owning approximately 0.36% of the company after selling 46,063 shares.
• Several analysts have raised their price targets for Travel + Leisure, with Mizuho upgrading the stock from "neutral" to "outperform" and increasing the target from $63.00 to $72.00.
• The company announced a quarterly dividend of $0.56, with a total annualized dividend of $2.24, representing a yield of 3.6%.

Hotchkis & Wiley Capital Management LLC reduced its stake in Travel + Leisure Co. (NYSE:TNL - Free Report) by 16.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 236,447 shares of the company's stock after selling 46,063 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.36% of Travel + Leisure worth $10,945,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in Travel + Leisure by 210.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,893 shares of the company's stock valued at $1,666,000 after acquiring an additional 24,329 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Travel + Leisure by 8.7% in the first 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 during the last quarter. Merit Financial Group LLC purchased a new position in Travel + Leisure in the first quarter worth about $261,000. GAMMA Investing LLC grew its position in Travel + Leisure by 26.6% in the first quarter. GAMMA Investing LLC now owns 2,044 shares of the company's stock worth $95,000 after acquiring an additional 429 shares in the last quarter. Finally, Cerity Partners LLC grew its position in Travel + Leisure by 10.1% in the first quarter. Cerity Partners LLC now owns 21,529 shares of the company's stock worth $997,000 after acquiring an additional 1,980 shares in the last quarter. 87.54% of the stock is owned by institutional investors.

Insider Buying and Selling at Travel + Leisure

In other news, CAO Thomas Michael Duncan sold 8,201 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $62.24, for a total transaction of $510,430.24. Following the transaction, the chief accounting officer directly owned 20,000 shares of the company's stock, valued at approximately $1,244,800. This represents a 29.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kimberly Marshall sold 16,500 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $60.00, for a total value of $990,000.00. Following the completion of the transaction, the insider directly owned 56,736 shares in the company, valued at approximately $3,404,160. The trade was a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 320,174 shares of company stock valued at $19,765,874. Corporate insiders own 3.75% of the company's stock.

Travel + Leisure Trading Up 0.5%

Shares of NYSE:TNL traded up $0.31 on Friday, reaching $62.99. The company had a trading volume of 276,367 shares, compared to its average volume of 694,219. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $63.31. The firm's 50 day simple moving average is $57.97 and its 200-day simple moving average is $51.72. The firm has a market capitalization of $4.09 billion, a PE ratio of 10.86, a PEG ratio of 0.60 and a beta of 1.43.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The business had revenue of $1.02 billion for 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 revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. As a group, equities research analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is 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 is presently 38.62%.

Wall Street Analyst Weigh In

Several research analysts recently commented on TNL shares. Wall Street Zen lowered Travel + Leisure from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. JMP Securities boosted their target price on Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research report on Thursday, July 24th. Mizuho upgraded Travel + Leisure from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $63.00 to $72.00 in a research report on Thursday, July 24th. Finally, Barclays boosted their target price on Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a research report on Thursday, July 24th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.