Geode Capital Management LLC Sells 20,470 Shares of Travel + Leisure Co. (NYSE:TNL)

Geode Capital Management LLC lowered its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,141,320 shares of the company’s stock after selling 20,470 shares during the period. Geode Capital Management LLC owned about 1.67% of Travel + Leisure worth $57,597,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Captrust Financial Advisors bought a new position in Travel + Leisure during the 3rd quarter worth approximately $224,000. Stifel Financial Corp raised its stake in Travel + Leisure by 8.8% during the third quarter. Stifel Financial Corp now owns 109,589 shares of the company’s stock worth $5,050,000 after buying an additional 8,819 shares during the last quarter. Barclays PLC lifted its holdings in Travel + Leisure by 80.4% in the third quarter. Barclays PLC now owns 225,326 shares of the company’s stock valued at $10,383,000 after buying an additional 100,440 shares during the period. Sanctuary Advisors LLC boosted its position in Travel + Leisure by 168.3% during the third quarter. Sanctuary Advisors LLC now owns 16,550 shares of the company’s stock valued at $763,000 after acquiring an additional 10,382 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Travel + Leisure by 182.9% during the 3rd quarter. Franklin Resources Inc. now owns 51,216 shares of the company’s stock worth $2,337,000 after acquiring an additional 33,111 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.

Travel + Leisure Price Performance

Shares of NYSE TNL opened at $41.37 on Monday. The company has a 50-day moving average price of $50.26 and a 200-day moving average price of $50.83. The stock has a market capitalization of $2.76 billion, a P/E ratio of 7.08, a P/E/G ratio of 0.67 and a beta of 1.40. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $58.95.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. The business had revenue of $971.00 million during the quarter, compared to the consensus estimate of $958.87 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.98 EPS. As a group, equities research analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.56 dividend. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend was Monday, March 17th. Travel + Leisure’s dividend payout ratio is presently 38.36%.

Analysts Set New Price Targets

TNL has been the topic of a number of recent analyst reports. Morgan Stanley assumed coverage on Travel + Leisure in a research note on Monday, January 6th. They issued an “overweight” rating and a $67.00 price objective on the stock. Mizuho reissued a “neutral” rating and issued a $64.00 price target (up from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Truist Financial raised their price objective on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Barclays boosted their target price on shares of Travel + Leisure from $48.00 to $54.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Finally, Tigress Financial raised their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. One equities research 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $63.70.

Insider Buying and Selling at Travel + Leisure

In other Travel + Leisure news, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the transaction, the director now owns 2,759 shares of the company’s stock, valued at $129,121.20. This trade represents a 69.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Dean Brown bought 2,000 shares of Travel + Leisure stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $46.66 per share, with a total value of $93,320.00. Following the completion of the acquisition, the insider now owns 408,706 shares of the company’s stock, valued at $19,070,221.96. This represents a 0.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.02% of the company’s stock.

Travel + Leisure Company Profile

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.