Vestcor Inc Purchases New Holdings in Travel + Leisure Co. (NYSE:TNL)

Key Points

• Vestcor Inc has acquired a new position in Travel + Leisure Co. by purchasing 4,729 shares valued at approximately $219,000.
• Travel + Leisure recently announced a quarterly dividend of $0.56 per share, yielding 3.8%, with a payout ratio of 38.62%.
• Analysts have varied opinions on Travel + Leisure stock, with target price upgrades from several firms, highlighting an average price target of $62.30 and a rating of "Moderate Buy."

Vestcor Inc purchased a new position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,729 shares of the company's stock, valued at approximately $219,000.

A number of other hedge funds have also recently added to or reduced their stakes in TNL. GSA Capital Partners LLP raised its position in shares of Travel + Leisure by 300.6% during the 1st quarter. GSA Capital Partners LLP now owns 31,727 shares of the company's stock worth $1,469,000 after purchasing an additional 23,807 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Travel + Leisure during the 1st quarter worth approximately $54,000. LPL Financial LLC raised its position in shares of Travel + Leisure by 39.6% during the 1st quarter. LPL Financial LLC now owns 53,010 shares of the company's stock worth $2,454,000 after purchasing an additional 15,027 shares during the last quarter. Cetera Investment Advisers grew its stake in Travel + Leisure by 3.0% in the 1st quarter. Cetera Investment Advisers now owns 10,789 shares of the company's stock worth $499,000 after acquiring an additional 317 shares during the period. Finally, Burney Co. grew its stake in Travel + Leisure by 230.1% in the 1st quarter. Burney Co. now owns 19,185 shares of the company's stock worth $888,000 after acquiring an additional 13,373 shares during the period. Institutional investors and hedge funds own 87.54% of the company's stock.

Travel + Leisure Trading Down 0.2%

TNL stock traded down $0.14 during trading on Tuesday, reaching $59.27. The stock had a trading volume of 822,359 shares, compared to its average volume of 811,342. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $63.31. The company has a market capitalization of $3.85 billion, a P/E ratio of 10.22, a PEG ratio of 0.57 and a beta of 1.43. The firm has a fifty day moving average price of $54.12 and a 200 day moving average price of $51.00.

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

Travel + Leisure Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.56 dividend. The ex-dividend date was Friday, June 13th. This represents a $2.24 annualized dividend and a yield of 3.8%. Travel + Leisure's dividend payout ratio is 38.62%.

Analyst Upgrades and Downgrades

Several research firms have commented on TNL. JMP Securities lifted 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. Wall Street Zen upgraded Travel + Leisure from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Morgan Stanley reduced their target price on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group reduced their target price on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Mizuho upgraded Travel + Leisure from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $63.00 to $72.00 in a report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Travel + Leisure has an average rating of "Moderate Buy" and an average price target of $62.30.

Insider Transactions at Travel + Leisure

In other news, insider Jeffrey Myers sold 110,885 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $62.33, for a total value of $6,911,462.05. Following the completion of the transaction, the insider directly owned 142,553 shares in the company, valued at $8,885,328.49. This trade represents a 43.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Geoffrey Richards sold 124,454 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider owned 118,718 shares of the company's stock, valued at $7,426,998.08. This trade represents a 51.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 323,474 shares of company stock worth $19,908,918 in the last quarter. 3.75% of the stock is currently owned by corporate insiders.

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.