Travel + Leisure Co. $TNL Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp raised its position in Travel + Leisure Co. (NYSE:TNL) by 1,285.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,433 shares of the company’s stock after purchasing an additional 18,958 shares during the quarter. Fifth Third Bancorp’s holdings in Travel + Leisure were worth $1,414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Travel + Leisure during the fourth quarter valued at approximately $62,162,000. AQR Capital Management LLC increased its position in shares of Travel + Leisure by 46.8% in the second quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock worth $138,449,000 after acquiring an additional 855,151 shares in the last quarter. Gotham Asset Management LLC raised its stake in shares of Travel + Leisure by 139.2% in the 4th quarter. Gotham Asset Management LLC now owns 631,336 shares of the company’s stock valued at $44,528,000 after acquiring an additional 367,356 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Travel + Leisure by 68.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 885,105 shares of the company’s stock valued at $62,427,000 after acquiring an additional 359,186 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Travel + Leisure by 124.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 567,478 shares of the company’s stock valued at $40,024,000 after acquiring an additional 314,481 shares in the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Travel + Leisure

In related news, insider Kimberly Marshall sold 28,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $70.17, for a total transaction of $1,964,760.00. Following the completion of the sale, the insider directly owned 33,191 shares of the company’s stock, valued at $2,329,012.47. This represents a 45.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George Herrera sold 500 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the sale, the director directly owned 1,353 shares of the company’s stock, valued at approximately $101,691.48. This represents a 26.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 31,000 shares of company stock valued at $2,161,915. Corporate insiders own 4.01% of the company’s stock.

Travel + Leisure Stock Down 2.8%

Shares of NYSE TNL opened at $73.46 on Friday. The firm’s 50-day moving average price is $72.30 and its two-hundred day moving average price is $71.69. Travel + Leisure Co. has a 52-week low of $56.66 and a 52-week high of $81.00. The stock has a market capitalization of $4.59 billion, a P/E ratio of 20.07, a P/E/G ratio of 0.57 and a beta of 1.16.

Travel + Leisure (NYSE:TNL) last issued its earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, hitting the consensus estimate of $1.88. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. As a group, equities research analysts expect that Travel + Leisure Co. will post 7.53 earnings per share for the current year.

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th were given a dividend of $0.60 per share. The ex-dividend date was Friday, June 12th. This represents a $2.40 annualized dividend and a dividend yield of 3.3%. Travel + Leisure’s dividend payout ratio (DPR) is 67.42%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TNL shares. Wells Fargo & Company increased their price target on Travel + Leisure from $87.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley boosted their price objective on Travel + Leisure from $78.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. The Goldman Sachs Group raised Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Monday, June 1st. Weiss Ratings upgraded Travel + Leisure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Finally, Mizuho raised their target price on Travel + Leisure from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Travel + Leisure presently has an average rating of “Buy” and an average target price of $86.90.

Key Travel + Leisure News

Here are the key news stories impacting Travel + Leisure this week:

• Positive Sentiment: Mizuho raised its price target on Travel + Leisure Co. from $105 to $107 and reiterated an outperform rating, signaling strong confidence in further upside. Benzinga
• Positive Sentiment: Wells Fargo increased its target from $87 to $92 and kept an overweight rating, reflecting a positive view on the company’s outlook after earnings. Tickerreport.com
• Positive Sentiment: Zacks Research upgraded the stock from hold to strong-buy, adding to the bullish analyst momentum around TNL. Zacks.com
• Positive Sentiment: Travel + Leisure raised its full-year outlook after reporting Q2 revenue of $1.06 billion and adjusted EPS of $1.88, with revenue topping estimates and gross VOI sales up 4% year over year. Business Wire
• Neutral Sentiment: The company’s adjusted EPS matched consensus at $1.88, while reported EPS of $1.72 and headline earnings came in below some estimates, creating a mixed reaction from investors. Zacks.com

Travel + Leisure Company 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.