Allworth Financial LP Increases Stock Position in Travel + Leisure Co. (NYSE:TNL)

Allworth Financial LP increased its position in Travel + Leisure Co. (NYSE:TNL) by 147.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 698 shares of the company’s stock after acquiring an additional 416 shares during the period. Allworth Financial LP’s holdings in Travel + Leisure were worth $27,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Travel + Leisure by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 10,255,690 shares of the company’s stock worth $376,691,000 after acquiring an additional 322,624 shares during the last quarter. BlackRock Inc. raised its holdings in Travel + Leisure by 13.9% in the 1st quarter. BlackRock Inc. now owns 9,806,796 shares of the company’s stock worth $568,206,000 after acquiring an additional 1,197,611 shares during the last quarter. Invesco Ltd. raised its holdings in Travel + Leisure by 11.8% in the 1st quarter. Invesco Ltd. now owns 6,057,641 shares of the company’s stock worth $350,980,000 after acquiring an additional 636,968 shares during the last quarter. State Street Corp raised its holdings in Travel + Leisure by 3.0% in the 2nd quarter. State Street Corp now owns 2,515,891 shares of the company’s stock worth $97,667,000 after acquiring an additional 74,254 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Travel + Leisure by 34.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,737,814 shares of the company’s stock worth $63,830,000 after acquiring an additional 447,938 shares during the last quarter. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JMP Securities initiated coverage on shares of Travel + Leisure in a report on Tuesday, February 13th. They issued an “outperform” rating and a $50.00 price objective for the company. Truist Financial boosted their target price on shares of Travel + Leisure from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Barclays boosted their target price on shares of Travel + Leisure from $37.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Jefferies Financial Group upgraded shares of Travel + Leisure from a “hold” rating to a “buy” rating and boosted their target price for the company from $37.00 to $57.00 in a research note on Tuesday, January 2nd. Finally, Mizuho initiated coverage on shares of Travel + Leisure in a research note on Tuesday, March 26th. They set a “neutral” rating and a $55.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Travel + Leisure presently has a consensus rating of “Hold” and a consensus price target of $53.63.

Travel + Leisure Price Performance

Shares of TNL stock opened at $44.30 on Monday. Travel + Leisure Co. has a 1 year low of $32.10 and a 1 year high of $49.02. The firm has a fifty day moving average price of $44.83 and a 200-day moving average price of $39.97. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 1.20 and a beta of 1.63.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.61. Travel + Leisure had a net margin of 10.59% and a negative return on equity of 43.77%. The firm had revenue of $935.00 million during the quarter, compared to the consensus estimate of $946.56 million. During the same quarter in the previous year, the firm posted $1.30 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities research analysts expect that Travel + Leisure Co. will post 5.4 EPS for the current year.

Travel + Leisure Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $0.50 per share. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.51%. Travel + Leisure’s payout ratio is presently 37.59%.

Insider Activity

In related news, Director George Herrera sold 2,969 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $45.33, for a total value of $134,584.77. Following the completion of the transaction, the director now owns 2,193 shares of the company’s stock, valued at approximately $99,408.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director George Herrera sold 2,969 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $45.33, for a total value of $134,584.77. Following the completion of the transaction, the director now owns 2,193 shares of the company’s stock, valued at approximately $99,408.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kimberly Marshall sold 4,953 shares of the company’s stock in a transaction on Sunday, March 10th. The stock was sold at an average price of $45.24, for a total transaction of $224,073.72. Following the completion of the transaction, the insider now directly owns 54,657 shares of the company’s stock, valued at approximately $2,472,682.68. The disclosure for this sale can be found here. Insiders sold a total of 28,922 shares of company stock valued at $1,318,358 in the last 90 days. Company insiders own 2.07% of the company’s stock.

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.