Travel + Leisure Co. $TNL is Iridian Asset Management LLC CT’s 3rd Largest Position

Iridian Asset Management LLC CT reduced its position in Travel + Leisure Co. (NYSE:TNL) by 30.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 305,415 shares of the company’s stock after selling 133,235 shares during the quarter. Travel + Leisure accounts for approximately 7.2% of Iridian Asset Management LLC CT’s holdings, making the stock its 3rd biggest holding. Iridian Asset Management LLC CT owned approximately 0.47% of Travel + Leisure worth $18,169,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new position in shares of Travel + Leisure during the second quarter valued at approximately $27,000. Parkside Financial Bank & Trust boosted its holdings in Travel + Leisure by 155.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 628 shares of the company’s stock valued at $32,000 after acquiring an additional 382 shares during the period. SJS Investment Consulting Inc. boosted its holdings in Travel + Leisure by 13,383.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 809 shares of the company’s stock valued at $48,000 after acquiring an additional 803 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Travel + Leisure in the 2nd quarter valued at $45,000. Finally, Geneos Wealth Management Inc. increased 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 worth $44,000 after purchasing an additional 715 shares during the period. Institutional investors own 87.54% of the company’s stock.

Insider Buying and Selling

In related news, insider Jeffrey Myers sold 50,000 shares of the company’s stock in a transaction on 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 completion of the sale, the insider directly owned 63,789 shares in the company, valued at $4,234,313.82. This represents a 43.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Geoffrey Richards sold 62,525 shares of Travel + Leisure 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 completion of the transaction, the insider owned 39,604 shares in the company, valued at $2,580,992.68. This trade represents a 61.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 198,776 shares of company stock worth $13,080,628 over the last quarter. Insiders own 3.75% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TNL. Morgan Stanley set a $68.00 target price on shares of Travel + Leisure in a research note on Wednesday, October 22nd. Wells Fargo & Company assumed coverage on shares of Travel + Leisure in a report on Tuesday, November 18th. They set an “overweight” rating and a $74.00 price objective for the company. The Goldman Sachs Group boosted their price objective on shares of Travel + Leisure from $61.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Barclays set a $70.00 target price on shares of Travel + Leisure and gave the stock an “equal weight” rating in a research report on Wednesday, December 17th. Finally, Mizuho set a $86.00 price target on Travel + Leisure in a report on Wednesday, October 22nd. One investment 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.22.

Travel + Leisure Price Performance

Shares of Travel + Leisure stock opened at $75.04 on Monday. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 0.53 and a beta of 1.38. The firm’s 50-day moving average is $68.46 and its two-hundred day moving average is $63.14. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $76.21.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the company earned $1.57 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were issued a dividend of $0.56 per share. The ex-dividend date was Friday, December 12th. This represents a $2.24 dividend on an annualized basis and a yield of 3.0%. Travel + Leisure’s dividend payout ratio is currently 36.84%.

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.