Vestcor Inc Makes New Investment 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 bought a new stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,729 shares of the company's stock, valued at approximately $219,000.

Several other large investors have also modified their holdings of TNL. Natixis bought a new position in Travel + Leisure in the fourth quarter worth approximately $37,000. UMB Bank n.a. raised its stake in Travel + Leisure by 54.0% in the first quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock worth $54,000 after buying an additional 409 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in Travel + Leisure in the first quarter worth approximately $54,000. Rossby Financial LCC bought a new position in Travel + Leisure in the first quarter worth approximately $55,000. Finally, Canada Pension Plan Investment Board raised its stake in Travel + Leisure by 333.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company's stock worth $66,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Travel + Leisure Price Performance

NYSE:TNL traded up $0.03 during mid-day trading on Friday, hitting $59.12. The company's stock had a trading volume of 232,992 shares, compared to its average volume of 700,386. The business's fifty day moving average is $54.55 and its two-hundred day moving average is $51.11. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $63.31. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 0.57 and a beta of 1.43.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its 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). Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company earned $1.52 EPS. Travel + Leisure's revenue was up 3.4% compared to the same quarter last year. Analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, June 13th. Travel + Leisure's dividend payout ratio (DPR) is currently 38.62%.

Insider Transactions at Travel + Leisure

In related news, CAO Thomas Michael Duncan sold 8,201 shares of Travel + Leisure stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $62.24, for a total value of $510,430.24. Following the completion of the transaction, the chief accounting officer directly owned 20,000 shares in the company, valued at approximately $1,244,800. This trade represents a 29.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Dean Brown purchased 1,500 shares of the business's stock in a transaction on Friday, August 1st. The stock was acquired at an average price of $58.39 per share, for a total transaction of $87,585.00. Following the completion of the purchase, the insider owned 427,821 shares of the company's stock, valued at $24,980,468.19. This represents a 0.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 323,474 shares of company stock valued at $19,908,918. 3.75% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays upped their price target on Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research report on Thursday, July 24th. The Goldman Sachs Group reduced their price target on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Mizuho raised Travel + Leisure from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $63.00 to $72.00 in a research report on Thursday, July 24th. Wall Street Zen raised Travel + Leisure from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, JMP Securities upped their price target on Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Travel + Leisure has a consensus rating of "Moderate Buy" and a consensus price target of $62.30.

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.