State Street Corp Cuts Stock Holdings in Travel + Leisure Co. (NYSE:TNL)

State Street Corp lowered its stake in Travel + Leisure Co. (NYSE:TNL) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,200,884 shares of the company’s stock after selling 5,983 shares during the period. State Street Corp’s holdings in Travel + Leisure were worth $101,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TNL. Cetera Advisors LLC bought a new stake in Travel + Leisure in the first quarter valued at approximately $206,000. SG Americas Securities LLC increased its stake in shares of Travel + Leisure by 231.4% in the second quarter. SG Americas Securities LLC now owns 12,111 shares of the company’s stock worth $545,000 after buying an additional 8,457 shares during the period. Raymond James & Associates raised its holdings in Travel + Leisure by 6.7% during the 2nd quarter. Raymond James & Associates now owns 36,944 shares of the company’s stock valued at $1,662,000 after buying an additional 2,326 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Travel + Leisure by 10.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 55,355 shares of the company’s stock valued at $2,490,000 after buying an additional 5,400 shares during the period. Finally, Family Firm Inc. bought a new stake in Travel + Leisure in the 2nd quarter worth $31,000. Institutional investors own 87.54% of the company’s stock.

Insider Activity at Travel + Leisure

In other news, Director Stephen P. Holmes sold 80,000 shares of the stock in a transaction that occurred 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 in the company, valued at $17,258,129.85. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Geoffrey Richards sold 5,009 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $52.16, for a total transaction of $261,269.44. Following the completion of the transaction, the insider now owns 125,209 shares of the company’s stock, valued at approximately $6,530,901.44. The trade was a 3.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,209 shares of company stock valued at $4,940,022 in the last 90 days. Corporate insiders own 4.02% of the company’s stock.

Travel + Leisure Trading Down 0.8 %

Shares of Travel + Leisure stock opened at $53.15 on Monday. Travel + Leisure Co. has a 12 month low of $37.99 and a 12 month high of $56.91. The firm has a market capitalization of $3.64 billion, a P/E ratio of 9.02, a P/E/G ratio of 0.77 and a beta of 1.63. The business has a fifty day simple moving average of $51.12 and a two-hundred day simple moving average of $46.67.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 10.99% and a negative return on equity of 48.06%. Travel + Leisure’s revenue was up .7% on a year-over-year basis. During the same period last year, the company posted $1.54 EPS. Analysts predict that Travel + Leisure Co. will post 5.75 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.50 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.76%. Travel + Leisure’s payout ratio is currently 33.96%.

Wall Street Analysts Forecast Growth

TNL has been the subject of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group upped their price target on Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lifted their price objective on Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday. Barclays upped their target price on Travel + Leisure from $41.00 to $48.00 and gave the company an “underweight” rating in a report on Friday. Finally, Truist Financial lifted their price target on shares of Travel + Leisure from $60.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.50.

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.