Vanguard Group Inc. Has $671.42 Million Stock Position in Travel + Leisure Co. $TNL

Key Points

• Vanguard Group reduced its stake in Travel + Leisure by 4.3% in Q4 and now holds 9,519,684 shares — about 14.8% of the company valued at roughly $671.42 million.
• The company beat recent quarterly estimates with $1.45 EPS versus $1.31 expected and $961M in revenue, and raised its quarterly dividend to $0.60 (annualized $2.40, yield ~3.7%).
• Analysts have a consensus rating of Moderate Buy with an average price target of $85.20, while insiders have net sold ~121,738 shares (~$9.14M) over the past three months despite a CFO purchase of 1,000 shares.

Vanguard Group Inc. lessened its position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 4.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 9,519,684 shares of the company's stock after selling 425,415 shares during the period. Vanguard Group Inc. owned approximately 14.80% of Travel + Leisure worth $671,423,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TNL. Royal Bank of Canada grew its stake in Travel + Leisure by 42.0% in the first quarter. Royal Bank of Canada now owns 91,184 shares of the company's stock valued at $4,222,000 after acquiring an additional 26,965 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Travel + Leisure in the first quarter valued at approximately $396,000. Millennium Management LLC grew its stake in Travel + Leisure by 129.5% in the first quarter. Millennium Management LLC now owns 413,505 shares of the company's stock valued at $19,141,000 after acquiring an additional 233,345 shares during the period. Goldman Sachs Group Inc. grew its stake in Travel + Leisure by 97.1% in the first quarter. Goldman Sachs Group Inc. now owns 200,286 shares of the company's stock valued at $9,271,000 after acquiring an additional 98,647 shares during the period. Finally, United Services Automobile Association acquired a new stake in Travel + Leisure in the first quarter valued at approximately $206,000. Institutional investors and hedge funds own 87.54% of the company's stock.

Wall Street Analysts Forecast Growth

TNL has been the subject of a number of research reports. The Goldman Sachs Group raised their price objective on Travel + Leisure from $71.00 to $81.00 and gave the company a "neutral" rating in a research note on Thursday, February 19th. Wall Street Zen cut Travel + Leisure from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Citigroup reissued an "outperform" rating on shares of Travel + Leisure in a research note on Thursday, February 19th. Mizuho reduced their price objective on Travel + Leisure from $107.00 to $105.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Finally, Morgan Stanley raised their price objective on Travel + Leisure from $68.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, January 16th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Travel + Leisure presently has a consensus rating of "Moderate Buy" and an average price target of $85.20.

Insiders Place Their Bets

In other Travel + Leisure news, CFO Erik D. Hoag purchased 1,000 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The shares were acquired at an average cost of $65.67 per share, for a total transaction of $65,670.00. Following the completion of the acquisition, the chief financial officer owned 1,000 shares of the company's stock, valued at $65,670. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George Herrera sold 1,748 shares of Travel + Leisure stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $70.31, for a total value of $122,901.88. Following the sale, the director owned 1,853 shares in the company, valued at $130,284.43. This trade represents a 48.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 121,738 shares of company stock valued at $9,136,054. 4.01% of the stock is owned by insiders.

Travel + Leisure Stock Up 0.1%

TNL stock opened at $64.45 on Monday. Travel + Leisure Co. has a twelve month low of $45.47 and a twelve month high of $81.00. The stock's 50 day moving average is $71.84 and its 200-day moving average is $69.88. The firm has a market capitalization of $4.02 billion, a PE ratio of 18.10, a P/E/G ratio of 0.48 and a beta of 1.17.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $1.45 earnings per share for the quarter, beating 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 company had revenue of $961.00 million for the quarter, compared to analyst estimates of $954.81 million. During the same quarter last year, the company earned $1.11 earnings per share. The company's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Travel + Leisure Co. will post 7.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 20th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.7%. This is an increase from Travel + Leisure's previous quarterly dividend of $0.56. The ex-dividend date was Friday, March 20th. Travel + Leisure's dividend payout ratio is 67.42%.

Travel + Leisure Profile

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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