Vanguard Group reduced its holdings in Travel & Leisure Inc. (NYSE:TNL – Free Report ) by 1.2% during the first quarter, according to the latest filing with the Securities and Exchange Commission. The institutional investor sold 128,478 shares during the quarter and now owns 10,593,852 shares of the company’s stock. Vanguard Group held approximately 14.87% of Travel & Leisure Inc. worth $518,675,000 at the end of the most recent reporting period.
Other hedge funds and institutional investors also modified their holdings in the company. Louisiana State Employees Retirement System purchased a new stake in Travel+Leisure in the fourth quarter, valued at approximately $794,000. Los Angeles Capital Management LLC increased its holding in shares of Travel+Leisure by 1,025.0% in the first quarter. Los Angeles Capital Management LLC now owns 196,627 shares of the company’s stock, valued at $9,627,000, after purchasing an additional 179,149 shares in the fourth quarter. Waterloo Capital LP purchased a new stake in Travel+Leisure in the fourth quarter, valued at approximately $2,081,000. Alabama Retirement System increased its holding in Travel+Leisure by 87.9% in the fourth quarter. Alabama Retirement System now owns 281,799 shares of the company’s stock valued at $11,016,000 after purchasing an additional 131,796 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new stake in Travel + Leisure during the fourth quarter valued at about $4,496,000. 87.54% of the stock is now owned by institutional investors.
Analysts Set New Price Targets
A number of equity research analysts have recently offered their opinions on the stock. Barclays increased their price target on Travel + Leisure from $44.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, April 25th. Deutsche Bank lowered their price target on Travel + Leisure from $65.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday. 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 report on Friday, July 19th. Two equity research analysts have given the stock a hold rating, while six have given a buy rating. The stock currently has an average rating of a “moderate buy” and an average target price of $56.75 according to MarketBeat.com.
Check out the latest Travel + Leisure stock report
Travel + Leisure trade up 1.3%
TNL shares opened trading at $45.86 on Friday. The company’s 50-day moving average price is $44.89 and its 200-day moving average price is $44.23. The company has a market cap of $3.2 billion, a P/E ratio of 8.45, a P/G ratio of 2.53 and a beta of 1.63. Travel + Leisure Co.’s low over the past year is $32.10 and its high over the past year is $49.91.
Travel + Leisure (NYSE:TNL – get free report ) announced its quarterly earnings on Wednesday, July 24th. The company reported quarterly earnings of $1.52, beating analysts’ consensus estimates of $1.39 by $0.13. The company had revenues of $985 million for the quarter, compared to analysts’ estimates of $987.2 million. Travel + Leisure had an ROE of negative 46.63% and a net margin of 11.35%. Travel + Leisure’s revenue grew 3.8% year-over-year. During the same quarter last year, the company posted earnings per share of $1.33. Research analysts on average expect Travel + Leisure to post earnings per share of $5.54 this year.
Travel + Leisure announces dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.50 dividend. The ex-dividend date for this dividend was Friday, June 14th. On an annualized basis, this equates to a dividend of $2.00, or a yield of 4.36%. Travel + Leisure’s dividend payout ratio is currently 36.83%.
Travel + Leisure Profile
(Free report)
Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates through two segments: Vacation Ownership and Travel & Memberships. The Vacation Ownership segment develops, markets and sells vacation ownership interests (VOIs) to private consumers, as well as providing consumer financing in connection with the sale of VOIs and property management services at resorts.
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