Travel + Leisure Co. (NYSE:TNL) Shares Sold by California State Teachers Retirement System

Posted by Defense World Staff on Aug 23rd, 2023

California State Teachers Retirement System lowered its stake in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 3.5% in the first quarter, HoldingsChannel reports. The firm owned 102,055 shares of the company’s stock after selling 3,678 shares during the quarter. California State Teachers Retirement System’s holdings in Travel + Leisure were worth $4,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cetera Advisor Networks LLC boosted its holdings in shares of Travel + Leisure by 3.7% during the first quarter. Cetera Advisor Networks LLC now owns 6,652 shares of the company’s stock valued at $385,000 after acquiring an additional 235 shares during the period. LPL Financial LLC boosted its stake in Travel + Leisure by 0.7% during the 2nd quarter. LPL Financial LLC now owns 34,634 shares of the company’s stock valued at $1,344,000 after purchasing an additional 236 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Travel + Leisure by 2.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 11,728 shares of the company’s stock worth $460,000 after purchasing an additional 257 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Travel + Leisure by 3.8% in the first quarter. Prudential Financial Inc. now owns 7,157 shares of the company’s stock valued at $414,000 after purchasing an additional 259 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Travel + Leisure by 2.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 10,944 shares of the company’s stock valued at $398,000 after buying an additional 260 shares during the last quarter. 87.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Thomas Michael Duncan sold 3,000 shares of Travel + Leisure 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 directly owns 17,271 shares in the company, valued at approximately $706,729.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.84% of the company’s stock.

Travel + Leisure Stock Up 1.1 %

Shares of Travel + Leisure stock opened at $39.55 on Wednesday. The business has a fifty day simple moving average of $40.78 and a 200-day simple moving average of $39.69. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 0.50 and a beta of 1.67. Travel + Leisure Co. has a fifty-two week low of $33.57 and a fifty-two week high of $46.65.

Travel + Leisure (NYSE:TNL – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.01. Travel + Leisure had a net margin of 9.93% and a negative return on equity of 40.25%. The company had revenue of $949.00 million during the quarter, compared to analyst estimates of $952.77 million. During the same quarter last year, the firm posted $1.27 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts anticipate that Travel + Leisure Co. will post 5.3 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.45 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.80 annualized dividend and a dividend yield of 4.55%. Travel + Leisure’s dividend payout ratio is currently 39.47%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TNL. Deutsche Bank Aktiengesellschaft decreased their price objective on Travel + Leisure from $69.00 to $62.00 in a report on Thursday, April 27th. Truist Financial decreased their price target on Travel + Leisure from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, August 11th. TheStreet upgraded shares of Travel + Leisure from a “c” rating to a “b-” rating in a research note on Wednesday, July 26th. Finally, Barclays decreased their target price on shares of Travel + Leisure from $44.00 to $43.00 and set an “equal weight” rating for the company in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $49.67.

Read Our Latest Stock Report on TNL

Travel + Leisure Company Profile

(Free Report)

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.