Raymond James & Associates Raises Position in Travel + Leisure Co. (NYSE:TNL)

Raymond James & Associates grew its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,094 shares of the company’s stock after buying an additional 2,865 shares during the quarter. Raymond James & Associates’ holdings in Travel + Leisure were worth $1,294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cetera Advisor Networks LLC grew its stake in shares of Travel + Leisure by 3.7% during the first quarter. Cetera Advisor Networks LLC now owns 6,652 shares of the company’s stock valued at $385,000 after buying an additional 235 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Travel + Leisure by 0.7% during the second quarter. LPL Financial LLC now owns 34,634 shares of the company’s stock worth $1,344,000 after purchasing an additional 236 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Travel + Leisure by 3.8% during the first quarter. Prudential Financial Inc. now owns 7,157 shares of the company’s stock worth $414,000 after purchasing an additional 259 shares during the period. Cooper Financial Group boosted its holdings in shares of Travel + Leisure by 5.8% during the third quarter. Cooper Financial Group now owns 5,737 shares of the company’s stock worth $211,000 after purchasing an additional 314 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in shares of Travel + Leisure by 11.3% during the fourth quarter. Lazard Asset Management LLC now owns 3,254 shares of the company’s stock worth $118,000 after purchasing an additional 331 shares during the period. 87.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays increased their target price on shares of Travel + Leisure from $37.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Truist Financial increased their target price on shares of Travel + Leisure from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Jefferies Financial Group upgraded shares of Travel + Leisure from a “hold” rating to a “buy” rating and increased their target price for the stock from $37.00 to $57.00 in a report on Tuesday, January 2nd. JMP Securities assumed 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. Finally, Mizuho assumed coverage on shares of Travel + Leisure in a report on Tuesday, March 26th. They issued a “neutral” rating and a $55.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.29.

Travel + Leisure Price Performance

Shares of TNL opened at $43.60 on Friday. Travel + Leisure Co. has a one year low of $32.10 and a one year high of $49.02. The company has a 50-day simple moving average of $45.17 and a two-hundred day simple moving average of $40.17. The firm has a market capitalization of $3.11 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.63.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $946.56 million. During the same period last year, the business earned $1.30 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. Analysts expect that Travel + Leisure Co. will post 5.4 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.59%. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, March 20th. Travel + Leisure’s dividend payout ratio (DPR) is presently 37.59%.

Insider Activity

In other news, insider James J. Savina sold 6,000 shares of Travel + Leisure stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $47.00, for a total transaction of $282,000.00. Following the completion of the transaction, the insider now directly owns 26,442 shares in the company, valued at $1,242,774. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director George Herrera sold 2,969 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $45.33, for a total transaction of $134,584.77. Following the completion of the sale, the director now owns 2,193 shares of the company’s stock, valued at $99,408.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James J. Savina sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $47.00, for a total transaction of $282,000.00. Following the sale, the insider now directly owns 26,442 shares of the company’s stock, valued at approximately $1,242,774. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,922 shares of company stock worth $1,318,358. Insiders own 4.02% 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.