New York State Teachers Retirement System Buys 6,513 Shares of Travel + Leisure Co. (NYSE:TNL)

New York State Teachers Retirement System boosted its position in shares of Travel + Leisure Co. (NYSE:TNL) by 6.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 108,283 shares of the company’s stock after purchasing an additional 6,513 shares during the period. New York State Teachers Retirement System’s holdings in Travel + Leisure were worth $4,990,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Swedbank AB acquired a new stake in shares of Travel + Leisure during the 1st quarter worth approximately $33,598,000. Millennium Management LLC lifted its stake in Travel + Leisure by 440.7% during the second quarter. Millennium Management LLC now owns 614,141 shares of the company’s stock worth $27,624,000 after purchasing an additional 500,554 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Travel + Leisure by 318.4% in the 2nd quarter. Acadian Asset Management LLC now owns 405,252 shares of the company’s stock valued at $18,217,000 after purchasing an additional 308,391 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Travel + Leisure in the 2nd quarter valued at $7,480,000. Finally, LSV Asset Management increased its stake in shares of Travel + Leisure by 23.1% in the 2nd quarter. LSV Asset Management now owns 725,381 shares of the company’s stock valued at $32,628,000 after purchasing an additional 136,281 shares during the last quarter. 87.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial reduced their price objective on Travel + Leisure from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft reduced their price target 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. JPMorgan Chase & Co. upped their price objective on shares of Travel + Leisure from $53.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Barclays raised their target price on shares of Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group upped their price target on shares of Travel + Leisure from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.67.

Travel + Leisure Stock Up 1.6 %

Shares of Travel + Leisure stock opened at $49.90 on Wednesday. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 0.70 and a beta of 1.61. Travel + Leisure Co. has a twelve month low of $34.12 and a twelve month high of $49.91. The company’s fifty day moving average is $45.32 and its 200 day moving average is $44.79.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.08. The company had revenue of $993.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 earnings per share. As a group, equities analysts anticipate that Travel + Leisure Co. will post 5.77 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Friday, September 13th. Travel + Leisure’s dividend payout ratio is currently 33.96%.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, Director Stephen P. Holmes sold 80,000 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $47.55, for a total transaction of $3,804,000.00. Following the sale, the director now owns 362,947 shares of the company’s stock, valued at approximately $17,258,129.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Stephen P. Holmes sold 80,000 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $47.55, for a total value of $3,804,000.00. Following the transaction, the director now directly owns 362,947 shares of the company’s stock, valued at $17,258,129.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director George Herrera sold 2,193 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total value of $93,158.64. Following the sale, the director now owns 6,352 shares in the company, valued at approximately $269,832.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,439 shares of company stock worth $4,032,971 over the last three months. 4.02% of the stock is owned by company insiders.

Travel + Leisure 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.