Yousif Capital Management LLC cut its stake in Travel + Leisure Co. (NYSE:TNL – Free Report) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,177 shares of the company’s stock after selling 490 shares during the quarter. Yousif Capital Management LLC owned approximately 0.06% of Travel + Leisure worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of TNL. North Star Investment Management Corp. purchased a new stake in shares of Travel + Leisure during the 1st quarter worth about $27,000. Penserra Capital Management LLC acquired a new stake in Travel + Leisure in the first quarter valued at approximately $31,000. Lazard Asset Management LLC bought a new stake in Travel + Leisure in the first quarter worth approximately $34,000. Belpointe Asset Management LLC acquired a new position in shares of Travel + Leisure during the 4th quarter worth $35,000. Finally, Allworth Financial LP raised its holdings in shares of Travel + Leisure by 74.5% during the 1st quarter. Allworth Financial LP now owns 979 shares of the company’s stock valued at $38,000 after purchasing an additional 418 shares in the last quarter. 87.29% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently weighed in on TNL. Barclays cut their price objective on Travel + Leisure from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 27th. TheStreet upgraded shares of Travel + Leisure from a “c” rating to a “b-” rating in a research note on Wednesday, July 26th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Travel + Leisure from $69.00 to $62.00 in a research report on Thursday, April 27th. Finally, Bank of America initiated coverage on Travel + Leisure in a research report on Monday, April 17th. They issued an “underperform” rating and a $42.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.67.
Travel + Leisure Stock Performance
Travel + Leisure (NYSE:TNL – Get Free Report) last announced its earnings results on Wednesday, July 26th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.32 by $0.01. Travel + Leisure had a negative return on equity of 40.25% and a net margin of 9.93%. The company had revenue of $949.00 million for the quarter, compared to analysts’ expectations of $952.77 million. During the same quarter in the prior year, the business earned $1.27 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, sell-side analysts predict that Travel + Leisure Co. will post 5.29 earnings per share for the current year.
Travel + Leisure Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Wednesday, June 14th. Travel + Leisure’s dividend payout ratio is 39.47%.
Insider Buying and Selling
In other news, CAO Thomas Michael Duncan sold 3,000 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $40.92, for a total value of $122,760.00. Following the transaction, the chief accounting officer now owns 17,271 shares of the company’s stock, valued at approximately $706,729.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.84% of the stock is currently owned by insiders.
Travel + Leisure Company Profile
Travel + Leisure Co, together with its subsidiaries, provides hospitality services and products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.
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