Travel + Leisure Co. $TNL Shares Sold by Cambria Investment Management L.P.

Cambria Investment Management L.P. decreased its position in Travel + Leisure Co. (NYSE:TNL) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 205,012 shares of the company’s stock after selling 11,111 shares during the quarter. Travel + Leisure accounts for approximately 0.7% of Cambria Investment Management L.P.’s portfolio, making the stock its 18th largest position. Cambria Investment Management L.P.’s holdings in Travel + Leisure were worth $12,196,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TNL. Danske Bank A S purchased a new position in shares of Travel + Leisure during the third quarter worth $30,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Travel + Leisure in the 2nd quarter valued at $27,000. CNB Bank purchased a new stake in shares of Travel + Leisure in the 3rd quarter valued at $32,000. CENTRAL TRUST Co lifted its stake in Travel + Leisure by 181.5% during the 3rd quarter. CENTRAL TRUST Co now owns 791 shares of the company’s stock worth $47,000 after acquiring an additional 510 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its stake in Travel + Leisure by 13,383.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 809 shares of the company’s stock worth $48,000 after acquiring an additional 803 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $85.00 target price on shares of Travel + Leisure in a research report on Wednesday, February 18th. Weiss Ratings cut shares of Travel + Leisure from a “buy (b)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Wells Fargo & Company raised their price objective on shares of Travel + Leisure from $81.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. Mizuho set a $107.00 price objective on shares of Travel + Leisure in a report on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $90.00 target price on shares of Travel + Leisure in a research note on Friday, February 20th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.90.

Travel + Leisure Trading Down 0.5%

Shares of TNL opened at $70.13 on Thursday. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 0.53 and a beta of 1.32. The firm’s fifty day simple moving average is $72.45 and its 200-day simple moving average is $67.66. Travel + Leisure Co. has a twelve month low of $37.77 and a twelve month high of $81.00.

Travel + Leisure (NYSE:TNL) last issued its earnings results on Wednesday, February 18th. The company reported $1.83 EPS for the quarter, hitting analysts’ consensus estimates of $1.83. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1 billion. Travel + Leisure had a net margin of 5.74% and a negative return on equity of 47.77%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.72 earnings per share. On average, analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 20th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, March 20th. This represents a $2.40 annualized dividend and a dividend yield of 3.4%. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.56. Travel + Leisure’s payout ratio is currently 65.69%.

Insider Activity

In other news, insider Michael Dean Brown sold 66,860 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $74.03, for a total value of $4,949,645.80. Following the transaction, the insider owned 427,821 shares in the company, valued at approximately $31,671,588.63. This represents a 13.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Amandine Robin-Caplan sold 3,904 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $74.61, for a total value of $291,277.44. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 99,664 shares of company stock worth $7,390,847. 3.75% of the stock is currently owned by insiders.

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.