Kendall Capital Management Takes Position in Travel + Leisure Co. $TNL

Kendall Capital Management purchased a new stake in shares of Travel + Leisure Co. (NYSE:TNL) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 44,600 shares of the company’s stock, valued at approximately $3,409,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Travel + Leisure in the 2nd quarter valued at approximately $543,957,000. Norges Bank bought a new position in shares of Travel + Leisure in the fourth quarter worth $62,162,000. AQR Capital Management LLC boosted its holdings 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 during the period. Bank of New York Mellon Corp bought a new position in shares of Travel + Leisure in the second quarter worth $55,087,000. Finally, Gotham Asset Management LLC grew its position in shares of Travel + Leisure by 139.2% in the fourth quarter. Gotham Asset Management LLC now owns 631,336 shares of the company’s stock valued at $44,528,000 after purchasing an additional 367,356 shares in the last quarter. 87.54% of the stock is owned by institutional investors.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, insider Geoffrey Richards sold 33,744 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $75.65, for a total transaction of $2,552,733.60. Following the completion of the sale, the insider directly owned 1,600 shares in the company, valued at $121,040. This represents a 95.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kimberly Marshall sold 32,691 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $75.00, for a total transaction of $2,451,825.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 95,135 shares of company stock valued at $7,022,699. Insiders own 4.01% of the company’s stock.

Travel + Leisure Price Performance

Shares of TNL opened at $71.63 on Friday. The firm has a market cap of $4.38 billion, a P/E ratio of 19.57, a P/E/G ratio of 0.49 and a beta of 1.17. The stock has a 50 day simple moving average of $75.15 and a two-hundred day simple moving average of $72.11. Travel + Leisure Co. has a 1 year low of $58.07 and a 1 year high of $81.00.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 EPS for the quarter, meeting analysts’ consensus estimates of $1.88. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $1.65 earnings per share. On average, equities analysts anticipate that Travel + Leisure Co. will post 7.6 earnings per share for the current year.

Travel + Leisure Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.40 annualized dividend and a dividend yield of 3.4%. Travel + Leisure’s dividend payout ratio (DPR) is currently 65.57%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TNL shares. Wells Fargo & Company boosted their price objective on Travel + Leisure from $87.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. The Goldman Sachs Group upgraded Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Monday, June 1st. Barclays upped their price target on Travel + Leisure from $74.00 to $77.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Morgan Stanley increased their price target on shares of Travel + Leisure from $83.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, August 18th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Travel + Leisure in a research report on Tuesday, July 21st. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Travel + Leisure has an average rating of “Moderate Buy” and a consensus target price of $87.82.

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.