Travel + Leisure (NYSE:TNL) CAO Thomas Michael Duncan Sells 20,000 Shares of Stock

Key Points

• Travel + Leisure CAO Thomas Michael Duncan sold 20,000 shares at an average price of $74.16, generating $1.48 million. The sale reduced his direct holdings by 79.03% to 5,307 shares.
• TNL shares fell 2.4% to $71.79, while the company’s latest quarterly results matched earnings expectations at $1.88 per share and exceeded revenue estimates with $1.06 billion in sales.
• The company declared a quarterly dividend of $0.60 per share, equal to a 3.3% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $87.82.

Travel + Leisure Co. (NYSE:TNL - Get Free Report) CAO Thomas Michael Duncan sold 20,000 shares of Travel + Leisure stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $74.16, for a total transaction of $1,483,200.00. Following the completion of the transaction, the chief accounting officer directly owned 5,307 shares of the company's stock, valued at approximately $393,567.12. This trade represents a 79.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Travel + Leisure Stock Down 2.4%

Shares of TNL stock traded down $1.78 on Thursday, reaching $71.79. The stock had a trading volume of 367,152 shares, compared to its average volume of 758,800. Travel + Leisure Co. has a 12 month low of $58.07 and a 12 month high of $81.00. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 0.50 and a beta of 1.17. The firm's 50-day moving average is $75.05 and its two-hundred day moving average is $72.17.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 EPS for the quarter, hitting analysts' consensus estimates of $1.88. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.Travel + Leisure's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $1.65 earnings per share. On average, sell-side analysts forecast that Travel + Leisure Co. will post 7.7 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, September 16th. Travel + Leisure's dividend payout ratio is 65.57%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Susquehanna began coverage on shares of Travel + Leisure in a report on Tuesday, August 18th. They set a "positive" rating and a $95.00 target price for the company. Morgan Stanley raised their price objective on shares of Travel + Leisure from $83.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 18th. Mizuho boosted their price objective on Travel + Leisure from $105.00 to $107.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Wells Fargo & Company upped their price target on shares of Travel + Leisure from $87.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Finally, Zacks Research lowered shares of Travel + Leisure from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $87.82.

Institutional Trading of Travel + Leisure

Several institutional investors and hedge funds have recently modified their holdings of the business. HighTower Advisors LLC grew its stake in shares of Travel + Leisure by 5.9% during the second quarter. HighTower Advisors LLC now owns 47,706 shares of the company's stock worth $3,646,000 after buying an additional 2,671 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Travel + Leisure in the 2nd quarter valued at $1,039,000. California State Teachers Retirement System lifted its stake in shares of Travel + Leisure by 7,338.9% in the 2nd quarter. California State Teachers Retirement System now owns 5,640,075 shares of the company's stock valued at $431,071,000 after acquiring an additional 5,564,256 shares during the last quarter. AlphaGrep UK Ltd acquired a new stake in shares of Travel + Leisure during the 2nd quarter valued at $266,000. Finally, Nykredit A S acquired a new stake in shares of Travel + Leisure during the 2nd quarter valued at $216,000. 87.54% of the stock is currently owned by institutional investors.

Travel + Leisure Company Profile

Travel + Leisure Co NYSE: TNL is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.

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