KLP Kapitalforvaltning AS Raises Stock Position in Travel + Leisure Co. $TNL

KLP Kapitalforvaltning AS lifted its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,000 shares of the company’s stock after buying an additional 1,100 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Travel + Leisure were worth $826,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TNL. Parallel Advisors LLC increased its stake in Travel + Leisure by 17.8% in the 2nd quarter. Parallel Advisors LLC now owns 1,202 shares of the company’s stock valued at $62,000 after buying an additional 182 shares during the period. GAMMA Investing LLC increased its stake in Travel + Leisure by 10.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock valued at $117,000 after buying an additional 220 shares during the period. KBC Group NV increased its stake in Travel + Leisure by 8.1% in the 1st quarter. KBC Group NV now owns 3,128 shares of the company’s stock valued at $145,000 after buying an additional 235 shares during the period. Cetera Investment Advisers increased its stake in Travel + Leisure by 3.0% in the 1st quarter. Cetera Investment Advisers now owns 10,789 shares of the company’s stock valued at $499,000 after buying an additional 317 shares during the period. Finally, Xponance Inc. grew its stake in shares of Travel + Leisure by 6.8% during the 1st quarter. Xponance Inc. now owns 8,247 shares of the company’s stock worth $382,000 after purchasing an additional 527 shares during the period. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Insider Buying and Selling at Travel + Leisure

In other news, insider Jeffrey Myers sold 110,885 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the transaction, the insider directly owned 142,553 shares in the company, valued at $8,885,328.49. This represents a 43.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Geoffrey Richards sold 124,454 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $62.56, for a total transaction of $7,785,842.24. Following the transaction, the insider owned 118,718 shares in the company, valued at approximately $7,426,998.08. The trade was a 51.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 299,389 shares of company stock worth $18,567,207. 3.75% of the stock is currently owned by insiders.

Travel + Leisure Trading Down 0.5%

NYSE:TNL opened at $59.99 on Friday. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 0.58 and a beta of 1.47. The company’s 50-day moving average is $61.04 and its two-hundred day moving average is $53.93. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $64.11.

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

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Friday, September 12th. Travel + Leisure’s dividend payout ratio is presently 38.62%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TNL shares. Mizuho raised shares of Travel + Leisure from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $63.00 to $72.00 in a research note on Thursday, July 24th. Wall Street Zen upgraded shares of Travel + Leisure from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Barclays boosted their price objective on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an “underweight” rating in a research report on Thursday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Travel + Leisure in a research report on Wednesday, October 8th. Finally, JMP Securities upped their target price on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a “market outperform” rating in a report on Thursday, July 24th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.30.

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.