State of Wyoming Cuts Stake in Travel + Leisure Co. (NYSE:TNL)

State of Wyoming cut its position in Travel + Leisure Co. (NYSE:TNL) by 8.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,348 shares of the company’s stock after selling 524 shares during the period. State of Wyoming’s holdings in Travel + Leisure were worth $270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TNL. Invesco Ltd. raised its holdings in Travel + Leisure by 4.8% in the 4th quarter. Invesco Ltd. now owns 3,544,548 shares of the company’s stock worth $178,822,000 after acquiring an additional 163,804 shares during the last quarter. Copeland Capital Management LLC raised its stake in shares of Travel + Leisure by 0.8% in the fourth quarter. Copeland Capital Management LLC now owns 1,565,581 shares of the company’s stock worth $78,984,000 after purchasing an additional 12,111 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Travel + Leisure by 4.3% during the fourth quarter. AQR Capital Management LLC now owns 1,424,035 shares of the company’s stock valued at $71,358,000 after purchasing an additional 58,944 shares in the last quarter. Northern Trust Corp boosted its position in shares of Travel + Leisure by 9.6% during the fourth quarter. Northern Trust Corp now owns 1,036,703 shares of the company’s stock valued at $52,302,000 after buying an additional 90,553 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Travel + Leisure by 15.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company’s stock valued at $46,169,000 after buying an additional 122,173 shares during the last quarter. Institutional investors own 87.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TNL. Truist Financial boosted their target price on Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Tigress Financial boosted their price objective on shares of Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Bank of America upgraded shares of Travel + Leisure from an “underperform” rating to a “buy” rating and raised their target price for the stock from $40.00 to $60.00 in a report on Monday, January 27th. Mizuho reaffirmed a “neutral” rating and issued a $64.00 target price (up previously from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group lowered their price target on Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.20.

Insider Transactions at Travel + Leisure

In other news, insider Michael Dean Brown acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the transaction, the insider now directly owns 408,706 shares of the company’s stock, valued at approximately $19,070,221.96. This trade represents a 0.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the transaction, the director now owns 2,759 shares in the company, valued at approximately $129,121.20. This trade represents a 69.66% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.75% of the company’s stock.

Travel + Leisure Trading Down 0.6%

Shares of TNL stock opened at $47.88 on Friday. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $58.95. The stock has a market cap of $3.18 billion, a P/E ratio of 8.20, a P/E/G ratio of 0.67 and a beta of 1.41. The company has a 50 day simple moving average of $45.45 and a two-hundred day simple moving average of $50.61.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.10 by $0.01. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The firm had revenue of $934.00 million during the quarter, compared to analyst estimates of $933.08 million. During the same period in the prior year, the business posted $0.97 EPS. Travel + Leisure’s revenue was up 2.0% on a year-over-year basis. As a group, equities analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Friday, June 13th. Travel + Leisure’s payout ratio is 37.40%.

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.