Vanguard Group Inc. Sells 77,638 Shares of Travel + Leisure Co. (NYSE:TNL)

Vanguard Group Inc. trimmed its holdings in Travel + Leisure Co. (NYSE:TNL) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,292,665 shares of the company’s stock after selling 77,638 shares during the period. Vanguard Group Inc. owned about 15.50% of Travel + Leisure worth $476,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in TNL. Wells Fargo & Company MN lifted its stake in shares of Travel + Leisure by 18.1% in the fourth quarter. Wells Fargo & Company MN now owns 68,228 shares of the company’s stock valued at $3,442,000 after buying an additional 10,437 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Travel + Leisure by 4.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 200,787 shares of the company’s stock valued at $10,130,000 after buying an additional 8,374 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Travel + Leisure by 21.0% in the fourth quarter. Federated Hermes Inc. now owns 9,432 shares of the company’s stock valued at $476,000 after buying an additional 1,637 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Travel + Leisure by 1.0% in the fourth quarter. Cerity Partners LLC now owns 19,549 shares of the company’s stock valued at $986,000 after buying an additional 200 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Travel + Leisure in the fourth quarter valued at $959,000. 87.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TNL shares. Mizuho raised shares of Travel + Leisure from a “neutral” rating to an “outperform” rating and raised their price target for the company from $63.00 to $72.00 in a research report on Thursday, July 24th. JMP Securities raised their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a “market outperform” rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of Travel + Leisure from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Morgan Stanley dropped their price target on shares of Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Barclays raised their price target on shares of Travel + Leisure from $39.00 to $54.00 and gave the company an “underweight” rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.30.

Travel + Leisure Stock Performance

NYSE TNL opened at $60.72 on Friday. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $63.31. The company has a 50-day simple moving average of $55.66 and a 200 day simple moving average of $51.33. The company has a market capitalization of $3.94 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm earned $1.52 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $2.24 annualized dividend and a yield of 3.7%. Travel + Leisure’s payout ratio is currently 38.62%.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, CAO Thomas Michael Duncan sold 8,201 shares of the business’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $62.24, for a total value of $510,430.24. Following the completion of the transaction, the chief accounting officer owned 20,000 shares of the company’s stock, valued at $1,244,800. The trade was a 29.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kimberly Marshall sold 16,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $60.00, for a total transaction of $990,000.00. Following the completion of the transaction, the insider directly owned 56,736 shares of the company’s stock, valued at approximately $3,404,160. This represents a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 320,174 shares of company stock valued at $19,765,874 in the last quarter. 3.75% of the stock is currently owned by company insiders.

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.