Travel + Leisure Co. $TNL Stock Holdings Decreased by Hotchkis & Wiley Capital Management LLC

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 position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 16.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 236,447 shares of the company's stock after selling 46,063 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.36% of Travel + Leisure worth $10,945,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in shares of Travel + Leisure by 4.3% during the fourth quarter. AQR Capital Management LLC now owns 1,424,035 shares of the company's stock worth $71,358,000 after purchasing an additional 58,944 shares during the period. Northern Trust Corp boosted its holdings in shares of Travel + Leisure by 3.3% during the first 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 period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Travel + Leisure by 8.7% during 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 period. LSV Asset Management boosted its holdings in shares of Travel + Leisure by 37.7% during the first quarter. LSV Asset Management now owns 956,109 shares of the company's stock worth $44,258,000 after purchasing an additional 261,528 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings 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 during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on TNL. Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $63.00 to $72.00 in a report on Thursday, July 24th. JMP Securities raised their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. Wall Street Zen cut shares of Travel + Leisure from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Barclays raised their price target 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. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Travel + Leisure has an average rating of "Moderate Buy" and an average target price of $62.30.

Insiders Place Their Bets

In related news, insider Michael Dean Brown bought 1,500 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $58.39 per share, for a total transaction of $87,585.00. Following the purchase, the insider directly owned 427,821 shares in the company, valued at $24,980,468.19. This trade represents a 0.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $7,785,842.24. Following the transaction, the insider owned 118,718 shares of the company's stock, valued at approximately $7,426,998.08. The trade was a 51.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 320,174 shares of company stock valued at $19,765,874 in the last three months. Company insiders own 3.75% of the company's stock.

Travel + Leisure Stock Up 5.2%

NYSE TNL opened at $62.3680 on Friday. The stock has a market capitalization of $4.05 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 0.60 and a beta of 1.43. The company has a 50 day moving average price of $56.91 and a two-hundred day moving average price of $51.53. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $63.31.

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 analysts' consensus estimates of $1.66 by ($0.01). Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%.The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm posted $1.52 earnings per share. Travel + Leisure's quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, September 12th. Travel + Leisure's 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.

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