Travel + Leisure Co. $TNL Stock Position Lowered by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its position in Travel + Leisure Co. (NYSE:TNL) by 32.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,444 shares of the company’s stock after selling 10,132 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Travel + Leisure were worth $1,107,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in Travel + Leisure by 46.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock valued at $138,449,000 after acquiring an additional 855,151 shares during the last quarter. LSV Asset Management raised its holdings in shares of Travel + Leisure by 69.0% in the 2nd quarter. LSV Asset Management now owns 1,615,402 shares of the company’s stock worth $83,371,000 after purchasing an additional 659,293 shares in the last quarter. Northern Trust Corp lifted its stake in Travel + Leisure by 3.3% during the first quarter. Northern Trust Corp now owns 1,071,318 shares of the company’s stock valued at $49,591,000 after purchasing an additional 34,615 shares during the last quarter. Norges Bank bought a new stake in Travel + Leisure during the second quarter worth approximately $50,934,000. Finally, Swedbank AB grew its position in Travel + Leisure by 12.9% in the second quarter. Swedbank AB now owns 774,499 shares of the company’s stock worth $39,972,000 after buying an additional 88,271 shares during the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, Director George Herrera sold 559 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $68.18, for a total value of $38,112.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Myers sold 50,000 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $66.38, for a total value of $3,319,000.00. Following the completion of the transaction, the insider directly owned 63,789 shares in the company, valued at approximately $4,234,313.82. The trade was a 43.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 198,776 shares of company stock worth $13,080,628. Corporate insiders own 3.75% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TNL. Mizuho set a $86.00 price objective on Travel + Leisure in a research note on Wednesday, October 22nd. Barclays set a $70.00 price target on Travel + Leisure and gave the company an “equal weight” rating in a research report on Wednesday, December 17th. Wells Fargo & Company initiated coverage on Travel + Leisure in a research note on Tuesday, November 18th. They issued an “overweight” rating and a $74.00 price target on the stock. JMP Securities upped their price objective on shares of Travel + Leisure from $70.00 to $80.00 and gave the company a “market outperform” rating in a research note on Thursday, October 23rd. Finally, Citigroup reiterated an “outperform” rating on shares of Travel + Leisure in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.22.

Travel + Leisure Trading Up 0.6%

Shares of Travel + Leisure stock opened at $72.63 on Thursday. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $73.43. The company has a market cap of $4.67 billion, a P/E ratio of 11.95, a P/E/G ratio of 0.63 and a beta of 1.39. The stock has a 50-day moving average price of $66.22 and a 200 day moving average price of $61.09.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, October 22nd. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.08. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Travel + Leisure had a negative return on equity of 49.06% and a net margin of 10.36%.The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.57 EPS. On average, equities analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th will be given a $0.56 dividend. The ex-dividend date is Friday, December 12th. This represents a $2.24 dividend on an annualized basis and a yield of 3.1%. Travel + Leisure’s dividend payout ratio is presently 36.84%.

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.