Franklin Resources Inc. Has $2.34 Million Stock Holdings in Travel + Leisure Co. (NYSE:TNL)

Franklin Resources Inc. grew its position in Travel + Leisure Co. (NYSE:TNL) by 182.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,216 shares of the company’s stock after buying an additional 33,111 shares during the period. Franklin Resources Inc. owned approximately 0.07% of Travel + Leisure worth $2,337,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TNL. UMB Bank n.a. boosted its position in Travel + Leisure by 1,948.1% during the third quarter. UMB Bank n.a. now owns 553 shares of the company’s stock valued at $25,000 after purchasing an additional 526 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 during the last quarter. Atria Investments Inc grew its stake in shares of Travel + Leisure by 14.4% in the third quarter. Atria Investments Inc now owns 5,345 shares of the company’s stock valued at $246,000 after buying an additional 672 shares in the last quarter. Larson Financial Group LLC acquired a new position in Travel + Leisure during the second quarter worth $36,000. Finally, QRG Capital Management Inc. raised its position in Travel + Leisure by 4.6% during the third quarter. QRG Capital Management Inc. now owns 18,826 shares of the company’s stock worth $867,000 after acquiring an additional 821 shares in the last quarter. Institutional investors own 87.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TNL shares. Truist Financial raised their price objective on Travel + Leisure from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Barclays lifted their price objective on shares of Travel + Leisure from $41.00 to $48.00 and gave the stock an “underweight” rating in a research report on Friday, December 13th. The Goldman Sachs Group increased their price objective on shares of Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Stifel Nicolaus raised their target price on shares of Travel + Leisure from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Tigress Financial upped their price target on shares of Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.50.

Travel + Leisure Stock Down 0.3 %

NYSE:TNL opened at $51.03 on Friday. The firm has a market capitalization of $3.49 billion, a P/E ratio of 8.66, a P/E/G ratio of 0.77 and a beta of 1.63. The company has a fifty day moving average of $52.06 and a 200-day moving average of $47.11. Travel + Leisure Co. has a twelve month low of $37.99 and a twelve month high of $56.91.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.08. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The business had revenue of $993.00 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business earned $1.54 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts anticipate that Travel + Leisure Co. will post 5.75 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 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 3.92%. The ex-dividend date is Friday, December 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 business’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 $17,258,129.85. The trade was a 18.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Geoffrey Richards sold 9,400 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.56, for a total value of $531,664.00. Following the sale, the insider now directly owns 111,202 shares in the company, valued at $6,289,585.12. This trade represents a 7.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 99,016 shares of company stock valued at $4,846,863 over the last three months. Corporate insiders own 4.02% of the company’s stock.

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.