LPL Financial LLC Acquires 8,496 Shares of Travel + Leisure Co. (NYSE:TNL)

LPL Financial LLC grew its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 24.7% in the second quarter, HoldingsChannel.com reports. The fund owned 42,941 shares of the company’s stock after acquiring an additional 8,496 shares during the quarter. LPL Financial LLC’s holdings in Travel + Leisure were worth $1,732,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TNL. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Travel + Leisure during the 1st quarter worth about $25,000. North Star Investment Management Corp. acquired a new stake in Travel + Leisure during the 1st quarter worth about $27,000. Penserra Capital Management LLC acquired a new stake in Travel + Leisure during the 1st quarter worth about $31,000. Lazard Asset Management LLC acquired a new stake in Travel + Leisure during the 1st quarter worth about $34,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Travel + Leisure during the 2nd quarter worth about $56,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Travel + Leisure Stock Performance

Shares of NYSE TNL opened at $34.77 on Monday. Travel + Leisure Co. has a fifty-two week low of $32.10 and a fifty-two week high of $44.99. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 0.84 and a beta of 1.66. The firm’s 50-day simple moving average is $35.68 and its 200 day simple moving average is $38.24.

Travel + Leisure (NYSE:TNL) last posted its earnings results on Wednesday, October 25th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.46 by $0.08. Travel + Leisure had a net margin of 9.64% and a negative return on equity of 39.90%. The firm had revenue of $986.00 million for the quarter, compared to analysts’ expectations of $971.64 million. During the same quarter last year, the firm earned $1.28 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Travel + Leisure Co. will post 5.15 EPS for the current year.

Travel + Leisure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.80 annualized dividend and a dividend yield of 5.18%. Travel + Leisure’s dividend payout ratio is currently 38.54%.

Insiders Place Their Bets

In other Travel + Leisure news, insider Olivier Chavy sold 5,000 shares of Travel + Leisure stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $38.57, for a total transaction of $192,850.00. Following the transaction, the insider now owns 21,605 shares of the company’s stock, valued at approximately $833,304.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director George Herrera sold 834 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $38.09, for a total transaction of $31,767.06. Following the completion of the sale, the director now owns 5,838 shares in the company, valued at approximately $222,369.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Olivier Chavy sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $38.57, for a total transaction of $192,850.00. Following the sale, the insider now owns 21,605 shares of the company’s stock, valued at approximately $833,304.85. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

Analysts Set New Price Targets

TNL has been the topic of a number of research analyst reports. Barclays cut their price objective on shares of Travel + Leisure from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 26th. Tigress Financial initiated coverage on shares of Travel + Leisure in a research report on Thursday, August 24th. They set a “buy” rating and a $52.00 price objective on the stock. Truist Financial cut their price objective on shares of Travel + Leisure from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, August 11th. TheStreet cut shares of Travel + Leisure from a “b-” rating to a “c+” rating in a research report on Monday, October 23rd. Finally, Jefferies Financial Group dropped their price target on shares of Travel + Leisure from $44.00 to $39.00 and set a “hold” rating on the stock in a research report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $47.71.

Travel + Leisure Company Profile

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and 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.