VIRGINIA RETIREMENT SYSTEMS ET Al Sells 9,400 Shares of Travel + Leisure Co. $TNL

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its stake in Travel + Leisure Co. (NYSE:TNL) by 69.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,200 shares of the company’s stock after selling 9,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Travel + Leisure were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Travel + Leisure during the 2nd quarter worth about $543,957,000. State Street Corp lifted its stake in Travel + Leisure by 0.4% during the second quarter. State Street Corp now owns 2,157,772 shares of the company’s stock valued at $164,919,000 after buying an additional 7,641 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Travel + Leisure by 21.7% during the first quarter. Quantinno Capital Management LP now owns 1,305,515 shares of the company’s stock valued at $90,329,000 after buying an additional 232,711 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Travel + Leisure by 5.3% in the second quarter. Envestnet Asset Management Inc. now owns 802,110 shares of the company’s stock worth $61,305,000 after buying an additional 40,573 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Travel + Leisure in the second quarter worth about $55,087,000. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stifel Nicolaus set a $91.00 target price on shares of Travel + Leisure in a research report on Tuesday, October 27th. The Goldman Sachs Group reduced their price target on shares of Travel + Leisure from $87.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, October 15th. Barclays reduced their price target on shares of Travel + Leisure from $77.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 28th. Zacks Research raised shares of Travel + Leisure from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Travel + Leisure from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 28th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.25.

Travel + Leisure Trading Down 0.0%

NYSE:TNL opened at $75.30 on Monday. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 0.74 and a beta of 1.21. Travel + Leisure Co. has a 1-year low of $60.34 and a 1-year high of $81.00. The business’s fifty day moving average price is $66.13 and its 200 day moving average price is $70.56.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.16. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 5.66%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business earned $1.80 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts forecast that Travel + Leisure Co. will post 7.77 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 11th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, December 11th. Travel + Leisure’s dividend payout ratio is 64.52%.

Insider Activity

In related news, CAO Thomas Michael Duncan sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $74.16, for a total transaction of $1,483,200.00. Following the completion of the sale, the chief accounting officer directly owned 5,307 shares in the company, valued at approximately $393,567.12. This trade represents a 79.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.01% of the stock is owned by company insiders.

About Travel + Leisure

Travel + Leisure Co is a leisure travel company focused on vacation ownership, vacation exchange and travel membership services. Its vacation ownership business develops, markets and manages resort-based vacation ownership interests and related products through brands including Club Wyndham, WorldMark and Margaritaville Vacation Club.

The company also operates RCI, a vacation exchange network that enables members of affiliated vacation ownership programs to exchange their stays. Its travel and membership offerings include services designed to help members plan and book vacations.

Travel + Leisure Co was formed as Wyndham Destinations following the 2018 separation of Wyndham Hotels & Resorts, and adopted its current name in 2021.