Travel + Leisure Co. (NYSE:TNL) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC trimmed its holdings in Travel + Leisure Co. (NYSE:TNL) by 22.6% during the second quarter, Holdings Channel.com reports. The fund owned 1,273,007 shares of the company’s stock after selling 372,396 shares during the period. AQR Capital Management LLC’s holdings in Travel + Leisure were worth $56,522,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Versant Capital Management Inc acquired a new stake in shares of Travel + Leisure in the second quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC lifted its stake in Travel + Leisure by 2,759.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock valued at $28,000 after buying an additional 607 shares in the last quarter. Family Firm Inc. acquired a new stake in Travel + Leisure during the 2nd quarter valued at $31,000. Larson Financial Group LLC purchased a new position in Travel + Leisure during the second quarter worth $36,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Travel + Leisure in the second quarter worth $38,000. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on TNL shares. The Goldman Sachs Group started coverage on Travel + Leisure in a research note on Wednesday, September 18th. They set a “neutral” rating and a $44.00 price objective on the stock. Barclays downgraded shares of Travel + Leisure from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $46.00 to $40.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Travel + Leisure from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Tigress Financial lifted their target price on shares of Travel + Leisure from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. increased their price target on Travel + Leisure from $53.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.33.

Travel + Leisure Stock Up 1.4 %

NYSE:TNL opened at $46.59 on Friday. The company has a market cap of $3.25 billion, a P/E ratio of 8.58, a P/E/G ratio of 0.63 and a beta of 1.62. The firm’s 50 day moving average is $43.67 and its two-hundred day moving average is $44.72. Travel + Leisure Co. has a fifty-two week low of $32.10 and a fifty-two week high of $49.91.

Travel + Leisure (NYSE:TNL) last issued its earnings results on Wednesday, July 24th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.13. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 11.35%. The business had revenue of $985.00 million for the quarter, compared to analyst estimates of $987.20 million. During the same period last year, the company posted $1.33 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts forecast that Travel + Leisure Co. will post 5.67 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Friday, September 13th. Travel + Leisure’s payout ratio is currently 36.83%.

Insider Buying and Selling

In other Travel + Leisure news, Director George Herrera sold 2,193 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total transaction of $93,158.64. Following the transaction, the director now directly owns 6,352 shares of the company’s stock, valued at $269,832.96. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Amandine Robin-Caplan sold 3,246 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $41.84, for a total value of $135,812.64. Following the completion of the sale, the insider now directly owns 24,491 shares in the company, valued at approximately $1,024,703.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director George Herrera sold 2,193 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total value of $93,158.64. Following the transaction, the director now owns 6,352 shares in the company, valued at approximately $269,832.96. The disclosure for this sale can be found here. Corporate insiders own 4.02% of the company’s stock.

Travel + Leisure Company Profile

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel 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.