Raymond James & Associates increased its ownership stake in Travel & Leisure, Inc. (NYSE:TNL – Free Report) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. Increased. The fund now owns 33,094 shares of the company's stock after purchasing an additional 2,865 shares during the quarter. Raymond James & Associates' Travel & Leisure segment had assets valued at $1,294,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their holdings of the stock. Cetera Advisor Networks LLC increased his stake in shares of Travel + Leisure by 3.7% in the 1st quarter. Cetera Advisor Networks LLC bought an additional 235 shares during the last quarter and he now owns 6,652 shares of the company's stock valued at $385,000. LPL Financial LLC grew its holdings in shares of Travel + Leisure by 0.7% in the 2nd quarter. LPL Financial LLC now owns 34,634 shares of the company's stock valued at $1,344,000 after purchasing an additional 236 shares during the period. Prudential Financial increased its holdings in shares of Travel & Leisure by 3.8% in the 1st quarter. Prudential Financial Inc. now owns 7,157 shares of the company's stock valued at $414,000 after purchasing an additional 259 shares during the period. Cooper Financial Group increased its holdings in shares of Travel & Leisure by 5.8% in the 3rd quarter. Cooper Financial Group Inc. now owns 5,737 shares of the company's stock valued at $211,000 after purchasing an additional 314 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of Travel + Leisure by 11.3% during the 4th quarter. Lazard Asset Management LLC now owns 3,254 shares of the company's stock valued at $118,000 after purchasing an additional 331 shares during the period. 87.54% of the stock is held by institutional investors.
Analyst sets new price target
A number of analysts have recently given their opinions on the stock. Barclays increased their target price on shares of Travel & Leisure from $37.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Trust Financial increased their target price on shares of Travel & Leisure from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Jefferies Financial Group upgraded shares of Travel & Leisure from a “hold” rating to a “buy” rating and increased their price objective from $37.00 to $57.00 in a report on Tuesday, January 2nd. JMP Securities underwrote coverage on shares of Travel + Leisure in a report on Tuesday, February 13th. They gave the company an “outperform” rating and a $50.00 price target. Finally, Mizuho received coverage on the Travel and Leisure stock in a report on Tuesday, March 26th. They gave the company a “neutral” rating and a $55.00 price target. Two research analysts have rated the stock as a hold and four have rated it a buy. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.29.
Read the latest Travel + Leisure report
Travel + Leisure Price Performance
TNL stock opened Friday at $43.60. Travel & Leisure, Inc. has a 1-year low of $32.10 and a 1-year high of $49.02. The company's 50 day simple moving average is $45.17 and its 200 day simple moving average is $40.17. The company has a market capitalization of $3.11 billion, a P/E ratio of 8.20x, a price-to-earnings ratio of 1.18x, and a beta of 1.63x.
Travel + Leisure (NYSE:TNL – Get a Free Report) last posted its earnings results on Wednesday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.61. The Travel + Leisure segment had a negative net margin of 10.59% and a negative return on equity of 43.77%. The company had revenue of $935 million for the quarter, compared to analyst estimates of $946.56 million. In the same period last year, the business' earnings per share were $1.30. Revenue from this business increased by 4.0% year-on-year. Analysts expect Travel & Leisure, Inc. to post 5.4 EPS for the current fiscal year.
Travel + Leisure increases dividends
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.50 per share. This equates to an annual dividend of $2.00 and a dividend yield of 4.59%. This is a positive change from Travel + Leisure's previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, March 20th. Travel + Leisure's dividend payout ratio (DPR) is currently 37.59%.
Insider activity
In other news, insider James J. Savina sold 6,000 shares of Travel & Leisure stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $47.00, for a total transaction of $282,000. Following the completion of the transaction, the insider now directly owns 26,442 shares of the company's stock, valued at $1,242,774. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is available on the SEC's website. In related news, Director George Herrera sold 2,969 shares of the company's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $45.33, for a total transaction of $134,584.77. Following the completion of the sale, the director now owns 2,193 shares of the company's stock, valued at $99,408.69. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available at this hyperlink. Also, insider James J. Savina sold 6,000 shares of the company's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $47.00, for a total transaction of $282,000. Following the sale, the insider now directly owns 26,442 shares of the company's stock, valued at approximately $1,242,774. Disclosures regarding this sale can be found here. Over the past 90 days, insiders have sold 28,922 shares of company stock, valued at $1,318,358. Insiders own 4.02% of the company's shares.
About Travel + Leisure
(Free report)
Travel + Leisure Co, along with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments: Travel and Memberships. The Vacation Ownership segment develops, markets and sells vacation ownership interests (VOIs) to individual consumers, as well as providing consumer financing in connection with the sale of VOIs. Real estate management services at resorts.
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