Copeland Capital Management LLC Reduces Stock Holdings in Travel + Leisure Co. $TNL

Copeland Capital Management LLC decreased its stake in Travel + Leisure Co. (NYSE:TNL) by 16.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,175,512 shares of the company’s stock after selling 224,264 shares during the period. Travel + Leisure accounts for 1.5% of Copeland Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Copeland Capital Management LLC owned about 1.81% of Travel + Leisure worth $69,931,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. purchased a new stake in Travel + Leisure in the second quarter valued at $27,000. Parkside Financial Bank & Trust boosted its position in shares of Travel + Leisure by 155.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 628 shares of the company’s stock valued at $32,000 after purchasing an additional 382 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Travel + Leisure during the second quarter worth approximately $45,000. Geneos Wealth Management Inc. lifted its stake in Travel + Leisure by 293.0% in the first quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock valued at $44,000 after buying an additional 715 shares during the last quarter. Finally, True Wealth Design LLC boosted its holdings in shares of Travel + Leisure by 119.9% in the second quarter. True Wealth Design LLC now owns 1,148 shares of the company’s stock valued at $59,000 after acquiring an additional 626 shares during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Travel + Leisure Price Performance

TNL opened at $71.25 on Tuesday. The business has a 50 day simple moving average of $66.95 and a 200-day simple moving average of $61.63. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $73.43. The stock has a market capitalization of $4.58 billion, a P/E ratio of 11.72, a P/E/G ratio of 0.63 and a beta of 1.39.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.08. Travel + Leisure had a net margin of 10.36% and a negative return on equity of 49.06%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm posted $1.57 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. Research analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 12th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, December 12th. Travel + Leisure’s dividend payout ratio (DPR) is presently 36.84%.

Insider Transactions at Travel + Leisure

In related news, insider Geoffrey Richards sold 62,525 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $65.17, for a total value of $4,074,754.25. Following the sale, the insider directly owned 39,604 shares of the company’s stock, valued at approximately $2,580,992.68. This represents a 61.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey Myers sold 50,000 shares of Travel + Leisure stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $66.38, for a total transaction of $3,319,000.00. Following the transaction, the insider owned 63,789 shares of the company’s stock, valued at approximately $4,234,313.82. The trade was a 43.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 198,776 shares of company stock valued at $13,080,628 in the last three months. 3.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TNL. Truist Financial lifted their target price on shares of Travel + Leisure from $70.00 to $71.00 and gave the company a “buy” rating in a report on Friday, November 14th. Wells Fargo & Company initiated coverage on shares of Travel + Leisure in a report on Tuesday, November 18th. They issued an “overweight” rating and a $74.00 target price for the company. Citigroup reiterated an “outperform” rating on shares of Travel + Leisure in a research note on Thursday, October 23rd. Wall Street Zen cut Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, JMP Securities increased their price objective on Travel + Leisure from $70.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.22.

Travel + Leisure Profile

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.