Victory Capital Management Inc. Decreases Stake in Travel + Leisure Co. (NYSE:TNL)

Key Points

• Victory Capital Management Inc. reduced its stake in Travel + Leisure Co. by 24.5%, owning 0.20% of the company, valued at $6.30 million, after selling 44,136 shares this quarter.
• Recent research reports from various analysts show mixed opinions on Travel + Leisure, with target prices ranging from $44.00 to $70.00, and an average rating of "Moderate Buy."
• Travel + Leisure announced a quarterly dividend of $0.56 per share, representing a 3.55% dividend yield, while institutional investors own 87.54% of the company’s stock.

Victory Capital Management Inc. decreased its position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 24.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 136,149 shares of the company's stock after selling 44,136 shares during the quarter. Victory Capital Management Inc. owned approximately 0.20% of Travel + Leisure worth $6,302,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Natixis bought a new position in shares of Travel + Leisure in the fourth quarter worth about $37,000. UMB Bank n.a. boosted its holdings in shares of Travel + Leisure by 54.0% in the 1st quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock worth $54,000 after purchasing an additional 409 shares during the period. Rossby Financial LCC bought a new position in shares of Travel + Leisure in the 1st quarter worth $55,000. Canada Pension Plan Investment Board raised its position in shares of Travel + Leisure by 333.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company's stock worth $66,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Capital Analysts LLC raised its position 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 in the last quarter. Institutional investors own 87.54% of the company's stock.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, insider Jeffrey Myers sold 110,885 shares of the business's stock in a transaction on Thursday, July 24th. The stock was 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 approximately $8,885,328.49. The trade was a 43.75% decrease in their position. The sale 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 company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $62.56, for a total value of $7,785,842.24. Following the sale, the insider owned 118,718 shares of the company's stock, valued at approximately $7,426,998.08. The trade was 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. Insiders own 3.75% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley reduced their price target on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Mizuho upgraded Travel + Leisure from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $63.00 to $72.00 in a research note on Thursday, July 24th. The Goldman Sachs Group lowered their target price on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. JMP Securities increased 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. Finally, Barclays increased their target price on Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $62.30.

Travel + Leisure Stock Down 0.5%

TNL stock traded down $0.29 during trading on Tuesday, hitting $62.67. The company had a trading volume of 91,246 shares, compared to its average volume of 695,108. The firm has a market cap of $4.07 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 0.60 and a beta of 1.38. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $63.31. The firm has a 50-day moving average price of $52.71 and a 200-day moving average price of $50.64.

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

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Friday, June 13th. Travel + Leisure's payout ratio is currently 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.