Geoffrey Richards Sells 124,454 Shares of Travel + Leisure Co. (NYSE:TNL) Stock

Key Points

• Geoffrey Richards, an insider at Travel + Leisure Co. (NYSE:TNL), sold a total of 124,454 shares on July 25th for approximately $7.79 million, representing a 51.18% decrease in his holdings.
• Following a recent quarter, Travel + Leisure reported earnings of $1.65 per share, missing estimates, while quarterly revenue increased by 3.4% year-over-year to reach $1.02 billion.
• The company's quarterly dividend of $0.56 was paid on June 30th, reflecting an annual yield of 3.56% with a payout ratio of 38.62%.

Travel + Leisure Co. (NYSE:TNL - Get Free Report) insider Geoffrey Richards sold 124,454 shares of the stock in a transaction dated 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 directly 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Geoffrey Richards also recently made the following trade(s):

• On Thursday, July 24th, Geoffrey Richards sold 4,703 shares of Travel + Leisure stock. The shares were sold at an average price of $62.50, for a total transaction of $293,937.50.
• On Wednesday, July 23rd, Geoffrey Richards sold 9,109 shares of Travel + Leisure stock. The stock was sold at an average price of $59.53, for a total transaction of $542,258.77.

Travel + Leisure Stock Down 2.0%

Shares of Travel + Leisure stock traded down $1.19 during mid-day trading on Friday, hitting $58.06. The stock had a trading volume of 153,099 shares, compared to its average volume of 698,400. The firm has a 50-day moving average of $53.47 and a two-hundred day moving average of $50.86. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $63.31. The firm has a market cap of $3.77 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 0.59 and a beta of 1.38.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.65 EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. The business's revenue was up 3.4% compared to the same quarter last year. Sell-side analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, June 13th. Travel + Leisure's dividend payout ratio is currently 38.62%.

Institutional Investors Weigh In On Travel + Leisure

A number of hedge funds have recently added to or reduced their stakes in TNL. Norges Bank acquired a new stake in Travel + Leisure during the 4th quarter worth approximately $45,804,000. Nuveen LLC acquired a new stake in shares of Travel + Leisure in the 1st quarter valued at $41,114,000. AQR Capital Management LLC raised its holdings in shares of Travel + Leisure by 28.3% in the 1st quarter. AQR Capital Management LLC now owns 1,827,453 shares of the company's stock valued at $83,241,000 after purchasing an additional 403,418 shares in the last quarter. LSV Asset Management raised its holdings in shares of Travel + Leisure by 37.7% in the 1st quarter. LSV Asset Management now owns 956,109 shares of the company's stock valued at $44,258,000 after purchasing an additional 261,528 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Travel + Leisure by 129.5% in the 1st quarter. Millennium Management LLC now owns 413,505 shares of the company's stock valued at $19,141,000 after purchasing an additional 233,345 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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