Vanguard Group Inc. Reduces Holdings in Travel + Leisure Co. $TNL

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 position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,292,665 shares of the company's stock after selling 77,638 shares during the quarter. Vanguard Group Inc. owned about 15.50% of Travel + Leisure worth $476,447,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. LSV Asset Management grew its position in Travel + Leisure by 37.7% in the first quarter. LSV Asset Management now owns 956,109 shares of the company's stock worth $44,258,000 after acquiring an additional 261,528 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Travel + Leisure by 25.1% in the 4th quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company's stock valued at $45,299,000 after acquiring an additional 180,059 shares during the period. Voloridge Investment Management LLC acquired a new position in shares of Travel + Leisure in the 4th quarter worth approximately $6,304,000. Millennium Management LLC boosted its position in shares of Travel + Leisure by 167.8% during the 4th quarter. Millennium Management LLC now owns 180,160 shares of the company's stock worth $9,089,000 after purchasing an additional 112,883 shares during the period. Finally, Bank of Nova Scotia acquired a new stake in Travel + Leisure in the 1st quarter valued at approximately $5,188,000. Hedge funds and other institutional investors own 87.54% of the company's stock.

Analyst Ratings Changes

TNL has been the topic of several research reports. Mizuho raised Travel + Leisure from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $63.00 to $72.00 in a research note on Thursday, July 24th. Wall Street Zen raised shares of Travel + Leisure from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. JMP Securities upped their target price on shares of Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. Morgan Stanley decreased their price target on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Barclays increased their price objective on Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $62.30.

Insider Activity

In other news, insider Jeffrey Myers sold 110,885 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the sale, the insider owned 142,553 shares of the company's stock, valued at $8,885,328.49. The trade was a 43.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Thomas Michael Duncan sold 8,201 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $62.24, for a total transaction of $510,430.24. Following the completion of the sale, the chief accounting officer directly owned 20,000 shares in the company, valued at approximately $1,244,800. The trade was a 29.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 320,174 shares of company stock valued at $19,765,874. Insiders own 3.75% of the company's stock.

Travel + Leisure Stock Up 1.0%

NYSE:TNL traded up $0.62 during mid-day trading on Tuesday, reaching $60.62. 38,401 shares of the stock were exchanged, compared to its average volume of 693,317. The stock has a market capitalization of $3.94 billion, a P/E ratio of 10.47, a P/E/G ratio of 0.58 and a beta of 1.43. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $63.31. The company has a 50 day simple moving average of $56.06 and a 200-day simple moving average of $51.36.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its 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). Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the business posted $1.52 earnings per share. The business's revenue was up 3.4% on a year-over-year basis. As a group, research analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Dividend Announcement

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 issued 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 3.7%. Travel + Leisure's dividend payout ratio (DPR) is currently 38.62%.

Travel + Leisure Company 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.