Thomas Michael Duncan Sells 20,000 Shares of Travel + Leisure (NYSE:TNL) Stock

Travel + Leisure Co. (NYSE:TNL) CAO Thomas Michael Duncan sold 20,000 shares of Travel + Leisure stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $74.16, for a total value of $1,483,200.00. Following the sale, the chief accounting officer directly owned 5,307 shares in the company, valued at $393,567.12. The trade was a 79.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Travel + Leisure Stock Performance

Shares of NYSE:TNL traded down $1.78 during midday trading on Thursday, hitting $71.79. 367,152 shares of the stock were exchanged, compared to its average volume of 758,800. The business’s 50-day moving average price is $75.05 and its 200 day moving average price is $72.17. Travel + Leisure Co. has a 12 month low of $58.07 and a 12 month high of $81.00. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 0.50 and a beta of 1.17.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.88. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business earned $1.65 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts expect that Travel + Leisure Co. will post 7.7 EPS for the current year.

Travel + Leisure Announces Dividend

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 given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, September 16th. Travel + Leisure’s dividend payout ratio is 65.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Travel + Leisure during the second quarter worth $543,957,000. California State Teachers Retirement System lifted its holdings in Travel + Leisure by 7,338.9% in the second quarter. California State Teachers Retirement System now owns 5,640,075 shares of the company’s stock valued at $431,071,000 after buying an additional 5,564,256 shares during the period. Invesco Ltd. boosted its position in Travel + Leisure by 4.2% during the fourth quarter. Invesco Ltd. now owns 3,632,657 shares of the company’s stock valued at $256,211,000 after acquiring an additional 146,484 shares during the last quarter. AQR Capital Management LLC boosted its position in Travel + Leisure by 46.8% during 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 last quarter. Finally, LSV Asset Management grew its holdings in Travel + Leisure by 1.1% during the 4th quarter. LSV Asset Management now owns 1,612,657 shares of the company’s stock worth $113,741,000 after acquiring an additional 17,377 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citigroup reiterated a “market outperform” rating on shares of Travel + Leisure in a report on Thursday, July 23rd. Barclays raised their target price on Travel + Leisure from $74.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Susquehanna assumed coverage on Travel + Leisure in a report on Tuesday, August 18th. They set a “positive” rating and a $95.00 target price on the stock. Morgan Stanley upped their price target on Travel + Leisure from $83.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, August 18th. Finally, The Goldman Sachs Group raised Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Monday, June 1st. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.82.

Travel + Leisure Company 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.