New York Life Investment Management LLC Grows Stock Holdings in Travel + Leisure Co. (NYSE:TNL)

Posted by on Jun 6th, 2023

New York Life Investment Management LLC raised its stake in Travel + Leisure Co. (NYSE:TNL – Get Rating) by 12.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,789 shares of the company’s stock after buying an additional 1,103 shares during the period. New York Life Investment Management LLC’s holdings in Travel + Leisure were worth $356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Travel + Leisure by 4.2% in the 3rd quarter. BlackRock Inc. now owns 12,201,640 shares of the company’s stock valued at $416,319,000 after buying an additional 492,354 shares during the period. Vanguard Group Inc. lifted its position in shares of Travel + Leisure by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 8,936,964 shares of the company’s stock worth $304,930,000 after purchasing an additional 227,175 shares during the period. Invesco Ltd. lifted its position in shares of Travel + Leisure by 11.8% in the 1st quarter. Invesco Ltd. now owns 6,057,641 shares of the company’s stock worth $350,980,000 after purchasing an additional 636,968 shares during the period. GMT Capital Corp lifted its position in shares of Travel + Leisure by 35.9% in the 4th quarter. GMT Capital Corp now owns 3,651,641 shares of the company’s stock worth $132,920,000 after purchasing an additional 964,300 shares during the period. Finally, State Street Corp lifted its position in shares of Travel + Leisure by 3.0% in the 2nd quarter. State Street Corp now owns 2,515,891 shares of the company’s stock worth $97,667,000 after purchasing an additional 74,254 shares during the period. 88.54% of the stock is owned by hedge funds and other institutional investors.

Travel + Leisure Trading Up 0.1 %

NYSE TNL opened at $39.45 on Tuesday. The company has a fifty day simple moving average of $37.73 and a two-hundred day simple moving average of $38.80. The stock has a market cap of $3.01 billion, a P/E ratio of 8.83, a P/E/G ratio of 0.34 and a beta of 1.67. Travel + Leisure Co. has a 12-month low of $33.57 and a 12-month high of $52.46.

Travel + Leisure (NYSE:TNL – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $879.00 million during the quarter, compared to analysts’ expectations of $840.65 million. Travel + Leisure had a net margin of 10.17% and a negative return on equity of 43.00%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company posted $0.69 earnings per share. As a group, sell-side analysts forecast that Travel + Leisure Co. will post 5.53 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.56%. Travel + Leisure’s dividend payout ratio is currently 40.27%.

Insiders Place Their Bets

In related news, insider Olivier Chavy sold 7,900 shares of the firm’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $38.02, for a total transaction of $300,358.00. Following the completion of the transaction, the insider now owns 4,511 shares of the company’s stock, valued at $171,508.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Olivier Chavy sold 7,900 shares of the firm’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $38.02, for a total transaction of $300,358.00. Following the completion of the transaction, the insider now owns 4,511 shares of the company’s stock, valued at $171,508.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George Herrera sold 2,069 shares of the firm’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $37.53, for a total transaction of $77,649.57. Following the transaction, the director now directly owns 5,838 shares of the company’s stock, valued at approximately $219,100.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,619 shares of company stock valued at $477,409. Insiders own 2.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TNL. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Travel + Leisure from $69.00 to $62.00 in a research note on Thursday, April 27th. Bank of America began coverage on shares of Travel + Leisure in a research note on Monday, April 17th. They set an “underperform” rating and a $42.00 price objective for the company. Finally, Credit Suisse Group boosted their price objective on shares of Travel + Leisure from $31.00 to $36.00 and gave the stock an “underperform” rating in a research note on Thursday, February 23rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $50.43.

Travel + Leisure Profile

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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 operates through Vacation Ownership and Travel and Membership segments. The Vacation Ownership segment is involved in developing, marketing, and selling vacation ownership interests to individual consumers, providing consumer financing in connection with the sale of vacation ownership interests, and providing property management services at resorts.

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Institutional Ownership by Quarter for Travel + Leisure (NYSE:TNL)

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