4,729 Shares in Travel + Leisure Co. (NYSE:TNL) Bought by Vestcor Inc

Vestcor Inc acquired a new position in shares of Travel + Leisure Co. (NYSE:TNL) in the first quarter, Holdings Channel reports. The firm acquired 4,729 shares of the company’s stock, valued at approximately $219,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Nuveen Asset Management LLC increased its position in Travel + Leisure by 25.1% during the 4th quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company’s stock valued at $45,299,000 after buying an additional 180,059 shares in the last quarter. Invesco Ltd. increased its position in Travel + Leisure by 4.8% during the 4th quarter. Invesco Ltd. now owns 3,544,548 shares of the company’s stock valued at $178,822,000 after buying an additional 163,804 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in Travel + Leisure during the 4th quarter valued at about $6,304,000. Millennium Management LLC increased its position in Travel + Leisure by 167.8% during the 4th quarter. Millennium Management LLC now owns 180,160 shares of the company’s stock valued at $9,089,000 after buying an additional 112,883 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Travel + Leisure by 5,758.6% during the 1st quarter. GAMMA Investing LLC now owns 94,617 shares of the company’s stock valued at $4,380,000 after buying an additional 93,002 shares in the last quarter. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Denny Marie Post sold 5,500 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $50.20, for a total value of $276,100.00. Following the completion of the sale, the director owned 4,477 shares of the company’s stock, valued at approximately $224,745.40. This trade represents a 55.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas Michael Duncan sold 8,201 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $62.24, for a total value of $510,430.24. Following the completion of the sale, the chief accounting officer directly owned 20,000 shares of the company’s stock, valued at approximately $1,244,800. This represents a 29.08% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 323,474 shares of company stock valued at $19,908,918. 3.75% of the stock is owned by corporate insiders.

Travel + Leisure Price Performance

NYSE TNL opened at $59.43 on Tuesday. The company has a market cap of $3.86 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.56 and a beta of 1.43. The stock’s 50 day simple moving average is $53.91 and its 200-day simple moving average is $50.94. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $63.31.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.52 EPS. On average, equities research analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Friday, June 13th. Travel + Leisure’s dividend payout ratio (DPR) is 38.62%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JMP Securities upped their target price on Travel + Leisure from $60.00 to $70.00 and gave the company a “market outperform” rating in a research report on Thursday, July 24th. Morgan Stanley reduced their target price on Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group reduced their target price on Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Wall Street Zen raised Travel + Leisure from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, Barclays increased their price objective on Travel + Leisure from $39.00 to $54.00 and gave the company an “underweight” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Travel + Leisure presently has a consensus rating of “Moderate Buy” and an average target price of $62.30.

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.