Jupiter Asset Management Ltd. Reduces Stake in Travel + Leisure Co. $TNL

Jupiter Asset Management Ltd. reduced its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 8.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 474,984 shares of the company’s stock after selling 46,047 shares during the period. Jupiter Asset Management Ltd.’s holdings in Travel + Leisure were worth $33,501,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Danske Bank A S bought a new position in Travel + Leisure during the third quarter valued at $30,000. N.E.W. Advisory Services LLC purchased a new position in shares of Travel + Leisure during the 4th quarter valued at $43,000. Geneos Wealth Management Inc. lifted its position in shares of Travel + Leisure by 293.0% during the 1st 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. CENTRAL TRUST Co grew its stake in shares of 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 during the period. Finally, Smartleaf Asset Management LLC raised its stake in Travel + Leisure by 102.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 835 shares of the company’s stock valued at $51,000 after acquiring an additional 422 shares during the period. Institutional investors own 87.54% of the company’s stock.

Insider Activity

In related news, insider Michael Dean Brown sold 9,443 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $79.11, for a total value of $747,035.73. Following the sale, the insider owned 487,303 shares in the company, valued at approximately $38,550,540.33. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Herrera sold 1,748 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $70.31, for a total value of $122,901.88. Following the transaction, the director owned 1,853 shares of the company’s stock, valued at approximately $130,284.43. The trade was a 48.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 27,536 shares of company stock worth $2,113,247. Company insiders own 4.01% of the company’s stock.

Travel + Leisure Stock Down 0.7%

Shares of TNL opened at $68.28 on Friday. Travel + Leisure Co. has a twelve month low of $47.61 and a twelve month high of $81.00. The stock has a market cap of $4.26 billion, a PE ratio of 19.18, a P/E/G ratio of 0.53 and a beta of 1.17. The business’s 50-day moving average price is $68.84 and its 200-day moving average price is $70.09.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.31 by $0.14. The company had revenue of $961.00 million during the quarter, compared to analysts’ expectations of $954.81 million. Travel + Leisure had a net margin of 5.85% and a negative return on equity of 48.06%. Travel + Leisure’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.11 earnings per share. Analysts expect that Travel + Leisure Co. will post 7.46 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, June 12th. Travel + Leisure’s payout ratio is 67.42%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TNL. Citizens Jmp upped their price objective on shares of Travel + Leisure from $80.00 to $90.00 and gave the company a “market outperform” rating in a report on Thursday, February 19th. The Goldman Sachs Group boosted their price target on shares of Travel + Leisure from $71.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Morgan Stanley dropped their price target on shares of Travel + Leisure from $80.00 to $78.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 12th. Stifel Nicolaus set a $89.00 price objective on shares of Travel + Leisure in a research note on Wednesday, February 18th. Finally, Citigroup reissued an “outperform” rating on shares of Travel + Leisure in a report on Thursday, February 19th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Travel + Leisure presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

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.