Great Lakes Advisors LLC Purchases Shares of 21,589 Travel + Leisure Co. $TNL

Great Lakes Advisors LLC bought a new stake in Travel + Leisure Co. (NYSE:TNL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,589 shares of the company’s stock, valued at approximately $1,650,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Travel + Leisure during the 2nd quarter valued at $543,957,000. Norges Bank purchased a new stake in shares of Travel + Leisure in the fourth quarter worth about $62,162,000. AQR Capital Management LLC boosted its position in shares of Travel + Leisure by 46.8% in the second quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock valued at $138,449,000 after acquiring an additional 855,151 shares during the period. Bank of New York Mellon Corp purchased a new position in Travel + Leisure during the second quarter valued at approximately $55,087,000. Finally, Gotham Asset Management LLC increased its holdings in Travel + Leisure by 139.2% during the 4th quarter. Gotham Asset Management LLC now owns 631,336 shares of the company’s stock worth $44,528,000 after acquiring an additional 367,356 shares during the period. Institutional investors own 87.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Mizuho raised their price objective on Travel + Leisure from $105.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Travel + Leisure in a research note on Tuesday, July 21st. Wells Fargo & Company boosted their price objective on shares of Travel + Leisure from $87.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Zacks Research cut shares of Travel + Leisure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Morgan Stanley increased their target price on shares of Travel + Leisure from $83.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Travel + Leisure has an average rating of “Moderate Buy” and a consensus target price of $87.82.

Insiders Place Their Bets

In other news, insider Geoffrey Richards sold 33,744 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $75.65, for a total value of $2,552,733.60. Following the sale, the insider directly owned 1,600 shares in the company, valued at $121,040. The trade was a 95.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kimberly Marshall sold 32,691 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $75.00, for a total transaction of $2,451,825.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 95,135 shares of company stock valued at $7,022,699 in the last quarter. 4.01% of the stock is currently owned by insiders.

Travel + Leisure Trading Up 1.3%

Shares of TNL opened at $71.63 on Friday. Travel + Leisure Co. has a 1-year low of $58.07 and a 1-year high of $81.00. The firm’s 50-day moving average price is $75.15 and its 200-day moving average price is $72.11. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 0.49 and a beta of 1.17.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 EPS for the quarter, meeting the consensus estimate of $1.88. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 earnings per share. On average, research analysts forecast that Travel + Leisure Co. will post 7.6 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.40 dividend on an annualized basis and a yield of 3.4%. Travel + Leisure’s dividend payout ratio (DPR) is currently 65.57%.

Travel + Leisure Profile

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.