Travel + Leisure Co. $TNL Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. holds $476.45 million in Travel + Leisure Co., representing approximately 15.50% of the company's shares, after a minor 0.7% reduction in their position.
• Insider transactions indicate significant selling activity, with Jeffrey Myers selling 110,885 shares and Thomas Michael Duncan selling 8,201 shares, marking notable decreases in their respective holdings.
• Travel + Leisure recently announced a quarterly dividend of $0.56 per share, with an annual yield of 3.7% and a payout ratio of 38.62%.

Vanguard Group Inc. trimmed its holdings in Travel + Leisure Co. (NYSE:TNL - Free Report) by 0.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 10,292,665 shares of the company's stock after selling 77,638 shares during the period. Vanguard Group Inc. owned approximately 15.50% of Travel + Leisure worth $476,447,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cerity Partners LLC increased its position in shares of Travel + Leisure by 1.0% during the 4th quarter. Cerity Partners LLC now owns 19,549 shares of the company's stock worth $986,000 after purchasing an additional 200 shares during the last quarter. Capital Analysts LLC lifted its holdings in shares of Travel + Leisure by 16.8% in the 4th quarter. Capital Analysts LLC now owns 1,576 shares of the company's stock worth $80,000 after acquiring an additional 227 shares during the last quarter. KBC Group NV boosted its position in shares of Travel + Leisure by 8.1% during the 1st quarter. KBC Group NV now owns 3,128 shares of the company's stock worth $145,000 after purchasing an additional 235 shares during the period. Cetera Investment Advisers boosted its position in shares of Travel + Leisure by 3.0% during the 1st quarter. Cetera Investment Advisers now owns 10,789 shares of the company's stock worth $499,000 after purchasing an additional 317 shares during the period. Finally, UMB Bank n.a. raised its position in Travel + Leisure by 54.0% in the first quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock valued at $54,000 after purchasing an additional 409 shares during the period. Institutional investors and hedge funds own 87.54% of the company's stock.

Analyst Ratings Changes

TNL has been the subject of a number of research reports. Mizuho raised Travel + Leisure from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $63.00 to $72.00 in a research note on Thursday, July 24th. Barclays lifted 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. Morgan Stanley reduced their price target on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Travel + Leisure from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, JMP Securities increased their target price 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Travel + Leisure has a consensus rating of "Moderate Buy" and a consensus price target of $62.30.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, Director George Herrera sold 2,200 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $60.48, for a total transaction of $133,056.00. Following the transaction, the director owned 559 shares of the company's stock, valued at approximately $33,808.32. This trade represents a 79.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Michael Duncan sold 8,201 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $62.24, for a total value of $510,430.24. Following the completion of the sale, the chief accounting officer directly owned 20,000 shares of the company's stock, valued at approximately $1,244,800. This trade represents a 29.08% 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 over the last quarter. 3.75% of the stock is owned by corporate insiders.

Travel + Leisure Stock Down 0.5%

Travel + Leisure stock traded down $0.31 during midday trading on Monday, reaching $59.82. The company's stock had a trading volume of 223,243 shares, compared to its average volume of 695,056. The company has a market cap of $3.88 billion, a P/E ratio of 10.31, a P/E/G ratio of 0.58 and a beta of 1.43. The business has a 50-day simple moving average of $55.86 and a 200-day simple moving average of $51.32. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $63.31.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%. Travel + Leisure's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 EPS. As a group, equities analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be given a $0.56 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $2.24 dividend on an annualized basis and a yield of 3.7%. Travel + Leisure's payout ratio is 38.62%.

Travel + Leisure Profile

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.