New York State Teachers Retirement System Reduces Holdings in Travel + Leisure Co. (NYSE:TNL)

New York State Teachers Retirement System lowered its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,939 shares of the company’s stock after selling 1,631 shares during the quarter. New York State Teachers Retirement System owned about 0.16% of Travel + Leisure worth $4,904,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. US Bancorp DE boosted its holdings in Travel + Leisure by 5.3% in the 4th quarter. US Bancorp DE now owns 23,707 shares of the company’s stock valued at $1,196,000 after purchasing an additional 1,199 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Travel + Leisure by 30.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock worth $39,000 after purchasing an additional 181 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Travel + Leisure during the 4th quarter worth approximately $25,000. Charles Schwab Investment Management Inc. raised its position in shares of Travel + Leisure by 15.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company’s stock worth $46,169,000 after purchasing an additional 122,173 shares during the last quarter. Finally, Atria Investments Inc grew its stake in Travel + Leisure by 25.1% in the 4th quarter. Atria Investments Inc now owns 6,689 shares of the company’s stock worth $337,000 after acquiring an additional 1,344 shares during the period. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Travel + Leisure Price Performance

Shares of TNL stock opened at $56.22 on Monday. The business has a 50 day simple moving average of $49.36 and a 200 day simple moving average of $49.78. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 0.54 and a beta of 1.38. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $58.95.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01. Travel + Leisure had a negative return on equity of 46.83% and a net margin of 10.77%. The firm had revenue of $934.00 million during the quarter, compared to analyst estimates of $933.08 million. During the same period last year, the company posted $0.97 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.56 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.98%. Travel + Leisure’s payout ratio is currently 37.40%.

Insider Activity

In other news, Director Denny Marie Post sold 5,500 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $50.20, for a total value of $276,100.00. Following the completion of the sale, the director owned 4,477 shares in the company, valued at $224,745.40. This represents a 55.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.75% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on TNL shares. The Goldman Sachs Group lowered their target price on shares of Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Barclays decreased their price target on shares of Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating for the company in a research report on Thursday, April 24th. Finally, Morgan Stanley decreased their price target on shares of Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.20.

Travel + Leisure 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.