Federated Hermes Inc. Cuts Holdings in Travel + Leisure Co. (NYSE:TNL)

Posted by Defense World Staff on Mar 10th, 2023

Federated Hermes Inc. decreased its position in Travel + Leisure Co. (NYSE:TNL – Get Rating) by 44.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,262 shares of the company’s stock after selling 72,748 shares during the period. Federated Hermes Inc. owned about 0.11% of Travel + Leisure worth $3,149,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TNL. Cetera Advisor Networks LLC boosted its position in Travel + Leisure by 3.7% during the first quarter. Cetera Advisor Networks LLC now owns 6,652 shares of the company’s stock worth $385,000 after acquiring an additional 235 shares during the last quarter. LPL Financial LLC boosted its position in Travel + Leisure by 0.7% during the second quarter. LPL Financial LLC now owns 34,634 shares of the company’s stock worth $1,344,000 after acquiring an additional 236 shares during the last quarter. Capital Analysts LLC boosted its position in Travel + Leisure by 22.9% during the second quarter. Capital Analysts LLC now owns 1,338 shares of the company’s stock worth $52,000 after acquiring an additional 249 shares during the last quarter. Prudential Financial Inc. boosted its position in Travel + Leisure by 3.8% during the first quarter. Prudential Financial Inc. now owns 7,157 shares of the company’s stock worth $414,000 after acquiring an additional 259 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in Travel + Leisure by 47.1% during the second quarter. Quadrant Capital Group LLC now owns 893 shares of the company’s stock worth $35,000 after acquiring an additional 286 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Insider Buying and Selling

In related news, Director George Herrera sold 882 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $38.58, for a total transaction of $34,027.56. Following the sale, the director now directly owns 40,320 shares of the company’s stock, valued at approximately $1,555,545.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.07% of the stock is owned by insiders.

Travel + Leisure Stock Performance

Shares of TNL stock opened at $40.89 on Friday. The firm’s 50 day moving average price is $41.19 and its 200-day moving average price is $39.47. Travel + Leisure Co. has a one year low of $33.57 and a one year high of $59.99. The firm has a market cap of $3.17 billion, a P/E ratio of 9.62 and a beta of 1.67.

Travel + Leisure (NYSE:TNL – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.22 by $0.08. Travel + Leisure had a net margin of 10.01% and a negative return on equity of 43.99%. The firm had revenue of $899.00 million for the quarter, compared to analyst estimates of $913.96 million. During the same period in the prior year, the business posted $1.19 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Travel + Leisure Co. will post 5.31 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be paid a dividend of $0.45 per share. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 4.40%. The ex-dividend date is Tuesday, March 14th. Travel + Leisure’s dividend payout ratio is presently 37.65%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TNL. Jefferies Financial Group lowered shares of Travel + Leisure from a “buy” rating to a “hold” rating and lowered their price target for the stock from $71.00 to $49.00 in a research report on Friday, February 3rd. Credit Suisse Group boosted their target price on shares of Travel + Leisure from $31.00 to $36.00 and gave the company an “underperform” rating in a report on Thursday, February 23rd. Truist Financial decreased their target price on shares of Travel + Leisure from $72.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, November 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Travel + Leisure from $62.00 to $69.00 in a report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $53.00.

About Travel + Leisure

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Travel + Leisure Co is a membership and leisure travel company, with a portfolio of nearly 20 resort, travel club, and lifestyle travel brands. It provides vacation experiences and travel inspiration to owners, members, and subscribers through its products and services: Wyndham Destinations, the vacation ownership company with 230 vacation club resort locations across the globe, Panorama, the membership travel business that includes the vacation exchange company, industry travel technology, and subscription travel brands, and Travel + Leisure Group, featuring online and print travel content, online booking platforms and travel clubs, and branded consumer products.