First Trust Advisors LP Cuts Stock Position in Travel + Leisure Co. (NYSE:TNL)

First Trust Advisors LP decreased its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 258,220 shares of the company's stock after selling 21,243 shares during the period. First Trust Advisors LP owned 0.38% of Travel + Leisure worth $13,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board raised its position in Travel + Leisure by 333.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company's stock valued at $66,000 after purchasing an additional 1,000 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Travel + Leisure in the fourth quarter valued at about $383,000. Bridgewater Associates LP boosted its stake in shares of Travel + Leisure by 70.2% during the fourth quarter. Bridgewater Associates LP now owns 67,346 shares of the company's stock worth $3,398,000 after buying an additional 27,779 shares during the period. Mariner LLC grew its holdings in shares of Travel + Leisure by 7.1% during the fourth quarter. Mariner LLC now owns 16,439 shares of the company's stock worth $829,000 after buying an additional 1,083 shares during the last quarter. Finally, Advisors Capital Management LLC increased its position in Travel + Leisure by 0.7% in the 4th quarter. Advisors Capital Management LLC now owns 396,662 shares of the company's stock valued at $20,012,000 after acquiring an additional 2,744 shares during the period. Hedge funds and other institutional investors own 87.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barclays dropped their target price on Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating on the stock in a report on Thursday, April 24th. Tigress Financial boosted their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Morgan Stanley cut their price target on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Mizuho reaffirmed a "neutral" rating and issued a $64.00 price objective (up previously from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. Finally, Bank of America raised Travel + Leisure from an "underperform" rating to a "buy" rating and increased their target price for the stock from $40.00 to $60.00 in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.20.

Travel + Leisure Price Performance

Shares of NYSE TNL traded down $0.27 on Wednesday, hitting $43.93. The company's stock had a trading volume of 706,327 shares, compared to its average volume of 628,353. The stock has a 50 day moving average of $46.92 and a 200-day moving average of $50.51. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $58.95. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.01. The company had revenue of $934.00 million during the quarter, compared to the consensus estimate of $933.08 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. Travel + Leisure's revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 earnings per share. Sell-side analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Travel + Leisure's previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.10%. Travel + Leisure's payout ratio is 37.40%.

Insider Activity at Travel + Leisure

In related news, insider Michael Dean Brown bought 2,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $46.66 per share, with a total value of $93,320.00. Following the completion of the transaction, the insider now owns 408,706 shares of the company's stock, valued at approximately $19,070,221.96. The trade was a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the completion of the transaction, the director now owns 2,759 shares in the company, valued at approximately $129,121.20. This trade represents a 69.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.75% of the company's stock.

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.