Travel + Leisure Co. (NYSE:TNL) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 275,840 shares of the company’s stock after selling 3,213 shares during the quarter. Retirement Systems of Alabama owned approximately 0.40% of Travel + Leisure worth $12,711,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted its holdings in Travel + Leisure by 1,948.1% in the third quarter. UMB Bank n.a. now owns 553 shares of the company’s stock valued at $25,000 after acquiring an additional 526 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Travel + Leisure by 2,759.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock valued at $28,000 after buying an additional 607 shares during the period. Family Firm Inc. purchased a new stake in Travel + Leisure in the 2nd quarter valued at about $31,000. Larson Financial Group LLC purchased a new stake in Travel + Leisure in the 2nd quarter valued at about $36,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Travel + Leisure in the 2nd quarter valued at about $38,000. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Travel + Leisure Stock Performance

NYSE:TNL opened at $53.15 on Monday. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 0.77 and a beta of 1.63. Travel + Leisure Co. has a 1 year low of $37.99 and a 1 year high of $56.91. The business has a fifty day moving average of $51.12 and a 200-day moving average of $46.67.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.08. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The business had revenue of $993.00 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company posted $1.54 EPS. Travel + Leisure’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts predict that Travel + Leisure Co. will post 5.75 EPS for the current year.

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.76%. Travel + Leisure’s dividend payout ratio is 33.96%.

Wall Street Analyst Weigh In

Several analysts have commented on TNL shares. Tigress Financial lifted their price target on Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday. Barclays boosted their target price on Travel + Leisure from $41.00 to $48.00 and gave the stock an “underweight” rating in a report on Friday. The Goldman Sachs Group boosted their target price on Travel + Leisure from $49.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Stifel Nicolaus boosted their target price on Travel + Leisure from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Travel + Leisure presently has an average rating of “Moderate Buy” and a consensus price target of $58.50.

Insider Activity

In other Travel + Leisure news, insider Geoffrey Richards sold 5,009 shares of Travel + Leisure stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $52.16, for a total value of $261,269.44. Following the transaction, the insider now directly owns 125,209 shares of the company’s stock, valued at $6,530,901.44. The trade was a 3.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George Herrera sold 2,193 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total value of $93,158.64. Following the sale, the director now owns 6,352 shares in the company, valued at approximately $269,832.96. This represents a 25.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,209 shares of company stock worth $4,940,022 in the last three months. 4.02% of the stock is owned by insiders.

About Travel + Leisure

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.