Millennium Management LLC Purchases 112,883 Shares of Travel + Leisure Co. (NYSE:TNL)

Millennium Management LLC grew its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 167.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,160 shares of the company’s stock after purchasing an additional 112,883 shares during the quarter. Millennium Management LLC owned approximately 0.26% of Travel + Leisure worth $9,089,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its holdings in Travel + Leisure by 30.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock valued at $39,000 after buying an additional 181 shares during the last quarter. Cerity Partners LLC grew its position in shares of Travel + Leisure by 1.0% during the 4th quarter. Cerity Partners LLC now owns 19,549 shares of the company’s stock valued at $986,000 after acquiring an additional 200 shares during the period. UMB Bank n.a. increased its stake in shares of Travel + Leisure by 36.9% in the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock worth $38,000 after purchasing an additional 204 shares in the last quarter. Capital Analysts LLC raised its holdings in Travel + Leisure by 16.8% in the 4th quarter. Capital Analysts LLC now owns 1,576 shares of the company’s stock worth $80,000 after purchasing an additional 227 shares during the period. Finally, Hourglass Capital LLC lifted its position in Travel + Leisure by 0.6% during the fourth quarter. Hourglass Capital LLC now owns 36,230 shares of the company’s stock valued at $1,828,000 after purchasing an additional 230 shares in the last quarter. Institutional investors own 87.54% of the company’s stock.

Analysts Set New Price Targets

TNL has been the topic of several recent research reports. Truist Financial raised their price objective on Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Tigress Financial lifted their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Mizuho reissued a “neutral” rating and issued a $64.00 price objective (up from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Morgan Stanley lowered their target price on shares of Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Bank of America raised shares of Travel + Leisure from an “underperform” rating to a “buy” rating and upped their target price for the stock from $40.00 to $60.00 in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Travel + Leisure presently has an average rating of “Moderate Buy” and an average target price of $59.20.

Travel + Leisure Price Performance

Shares of NYSE TNL opened at $47.82 on Monday. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $58.95. The business’s 50 day moving average is $45.47 and its two-hundred day moving average is $50.56. The stock has a market capitalization of $3.18 billion, a P/E ratio of 8.19, a PEG ratio of 0.67 and a beta of 1.41.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.01. The firm had revenue of $934.00 million for the quarter, compared to the consensus estimate of $933.08 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, June 13th. Travel + Leisure’s dividend payout ratio is currently 37.40%.

Insider Transactions at Travel + Leisure

In other news, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total transaction of $296,524.80. Following the completion of the sale, the director now directly owns 2,759 shares in the company, valued at approximately $129,121.20. This trade represents a 69.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Denny Marie Post sold 5,500 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $50.20, for a total transaction of $276,100.00. Following the completion of the transaction, the director now owns 4,477 shares in the company, valued at approximately $224,745.40. The trade was a 55.13% 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.

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.