State of Alaska Department of Revenue decreased its holdings in shares of Travel + Leisure Co. (NYSE:TNL – Get Rating) by 2.8% during the first quarter, Holdings Channel.com reports. The fund owned 12,143 shares of the company’s stock after selling 350 shares during the period. State of Alaska Department of Revenue’s holdings in Travel + Leisure were worth $703,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of TNL. Crossmark Global Holdings Inc. grew its stake in shares of Travel + Leisure by 5.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 7,775 shares of the company’s stock worth $430,000 after acquiring an additional 390 shares during the last quarter. Diversified Trust Co purchased a new stake in shares of Travel + Leisure during the fourth quarter worth about $223,000. Louisiana State Employees Retirement System boosted its position in Travel + Leisure by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 22,200 shares of the company’s stock valued at $1,227,000 after buying an additional 200 shares during the last quarter. First National Bank of South Miami boosted its position in Travel + Leisure by 32.6% in the fourth quarter. First National Bank of South Miami now owns 1,599 shares of the company’s stock valued at $88,000 after buying an additional 393 shares during the last quarter. Finally, Pendal Group Ltd purchased a new stake in Travel + Leisure in the fourth quarter valued at approximately $354,000. Institutional investors and hedge funds own 87.70% of the company’s stock.
Travel + Leisure stock opened at $40.27 on Friday. Travel + Leisure Co. has a 12 month low of $37.67 and a 12 month high of $63.19. The stock’s 50 day simple moving average is $46.46 and its two-hundred day simple moving average is $52.42. The firm has a market cap of $3.44 billion, a PE ratio of 10.65 and a beta of 1.73.
Travel + Leisure (NYSE:TNL – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.04). Travel + Leisure had a negative return on equity of 40.92% and a net margin of 9.98%. The company had revenue of $809.00 million during the quarter, compared to analysts’ expectations of $772.11 million. During the same quarter in the prior year, the company posted $0.39 EPS. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. As a group, sell-side analysts forecast that Travel + Leisure Co. will post 4.54 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $1.60 annualized dividend and a yield of 3.97%. Travel + Leisure’s dividend payout ratio is presently 42.33%.
TNL has been the topic of a number of recent research reports. Jefferies Financial Group upgraded Travel + Leisure from a “hold” rating to a “buy” rating and upped their target price for the company from $62.00 to $79.00 in a research report on Friday, April 29th. Barclays initiated coverage on Travel + Leisure in a research report on Tuesday, June 28th. They issued an “equal weight” rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.60.
In other news, insider James J. Savina sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $57.19, for a total transaction of $314,545.00. Following the completion of the transaction, the insider now directly owns 13,659 shares of the company’s stock, valued at approximately $781,158.21. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.07% of the company’s stock.
About Travel + Leisure (Get Rating)
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; provides consumer financing in connection with the sale of VOIs; and provides property management services at resorts.
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