Patient Capital Management LLC Decreases Stock Holdings in Travel + Leisure Co. (NYSE:TNL)

Patient Capital Management LLC trimmed its position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 86.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,599 shares of the company's stock after selling 767,534 shares during the quarter. Patient Capital Management LLC owned about 0.17% of Travel + Leisure worth $5,882,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Barclays PLC increased its stake in Travel + Leisure by 80.4% during the third quarter. Barclays PLC now owns 225,326 shares of the company's stock worth $10,383,000 after acquiring an additional 100,440 shares during the last quarter. Oak Thistle LLC bought a new position in shares of Travel + Leisure during the fourth quarter valued at approximately $1,288,000. Atlas Capital Advisors Inc. grew its stake in shares of Travel + Leisure by 1,141.0% during the fourth quarter. Atlas Capital Advisors Inc. now owns 11,765 shares of the company's stock valued at $594,000 after buying an additional 10,817 shares during the last quarter. Amundi grew its stake in shares of Travel + Leisure by 22.8% during the fourth quarter. Amundi now owns 5,940 shares of the company's stock valued at $302,000 after buying an additional 1,103 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Travel + Leisure by 4.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 200,787 shares of the company's stock valued at $10,130,000 after buying an additional 8,374 shares during the last quarter. 87.54% of the stock is owned by institutional investors.

Travel + Leisure Stock Performance

Travel + Leisure stock traded down $0.24 during mid-day trading on Monday, reaching $50.88. 178,289 shares of the company were exchanged, compared to its average volume of 637,521. The business has a fifty day moving average of $45.35 and a 200 day moving average of $50.62. The firm has a market cap of $3.38 billion, a P/E ratio of 8.70, a PEG ratio of 0.67 and a beta of 1.41. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $58.95.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.01. The company had revenue of $934.00 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. Sell-side analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.56 per share. The ex-dividend date was Monday, March 17th. This represents a $2.24 dividend on an annualized basis and a yield of 4.40%. This is a positive change from Travel + Leisure's previous quarterly dividend of $0.50. Travel + Leisure's dividend payout ratio is currently 37.40%.

Insider Activity

In related news, insider Michael Dean Brown purchased 2,000 shares of the business's stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $46.66 per share, with a total value of $93,320.00. Following the transaction, the insider now owns 408,706 shares of the company's stock, valued at approximately $19,070,221.96. This trade represents a 0.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total value of $296,524.80. Following the completion of the sale, the director now owns 2,759 shares in the company, valued at approximately $129,121.20. The trade was a 69.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.75% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on TNL. Truist Financial upped their target price on Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Bank of America raised Travel + Leisure from an "underperform" rating to a "buy" rating and upped their target price for the company from $40.00 to $60.00 in a research note on Monday, January 27th. Morgan Stanley cut their target price on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Mizuho reissued a "neutral" rating and issued a $64.00 price objective (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Finally, Barclays dropped their price objective on Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $59.20.

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.