Alaska Permanent Fund Corp Acquires 1,171 Shares of Travel + Leisure Co. (NYSE:TNL)

Alaska Permanent Fund Corp lifted its stake in Travel + Leisure Co. (NYSE:TNL) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,171 shares of the company’s stock after buying an additional 1,171 shares during the period. Alaska Permanent Fund Corp’s holdings in Travel + Leisure were worth $2,274,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Quent Capital LLC raised its stake in Travel + Leisure by 23.6% during the fourth quarter. Quent Capital LLC now owns 1,454 shares of the company’s stock worth $57,000 after acquiring an additional 278 shares in the last quarter. Allworth Financial LP increased its position in shares of Travel + Leisure by 147.5% during the 4th quarter. Allworth Financial LP now owns 698 shares of the company’s stock worth $27,000 after purchasing an additional 416 shares in the last quarter. Wright Investors Service Inc. lifted its holdings in Travel + Leisure by 1.7% during the 3rd quarter. Wright Investors Service Inc. now owns 31,522 shares of the company’s stock valued at $1,158,000 after purchasing an additional 527 shares during the last quarter. Fifth Third Bancorp boosted its position in Travel + Leisure by 42.8% in the third quarter. Fifth Third Bancorp now owns 2,033 shares of the company’s stock valued at $75,000 after buying an additional 609 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Travel + Leisure by 0.6% during the fourth quarter. California Public Employees Retirement System now owns 134,612 shares of the company’s stock worth $5,262,000 after buying an additional 775 shares during the last quarter. Institutional investors own 87.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Truist Financial lifted their target price on shares of Travel + Leisure from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Mizuho began coverage on Travel + Leisure in a research note on Tuesday, March 26th. They issued a “neutral” rating and a $55.00 price objective on the stock. Barclays increased their target price on Travel + Leisure from $37.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. JMP Securities started coverage on Travel + Leisure in a report on Tuesday, February 13th. They issued an “outperform” rating and a $50.00 price target for the company. Finally, Jefferies Financial Group raised shares of Travel + Leisure from a “hold” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $57.00 in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Travel + Leisure currently has an average rating of “Moderate Buy” and a consensus target price of $55.29.

Travel + Leisure Stock Performance

NYSE:TNL traded down $0.24 on Thursday, hitting $46.00. 63,240 shares of the stock were exchanged, compared to its average volume of 551,535. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 8.68, a P/E/G ratio of 1.25 and a beta of 1.63. Travel + Leisure Co. has a 52 week low of $32.10 and a 52 week high of $49.02. The company’s 50-day moving average price is $45.34 and its 200 day moving average price is $40.41.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. The business had revenue of $916.00 million during the quarter, compared to the consensus estimate of $904.54 million. Travel + Leisure had a net margin of 10.59% and a negative return on equity of 43.77%. Travel + Leisure’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. As a group, equities research analysts predict that Travel + Leisure Co. will post 5.4 earnings per share for the current year.

Travel + Leisure Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.35%. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, March 20th. Travel + Leisure’s dividend payout ratio (DPR) is currently 37.59%.

Insider Activity

In related news, insider James J. Savina sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $45.18, for a total transaction of $677,700.00. Following the sale, the insider now owns 15,860 shares of the company’s stock, valued at approximately $716,554.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider James J. Savina sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $45.18, for a total transaction of $677,700.00. Following the completion of the sale, the insider now directly owns 15,860 shares of the company’s stock, valued at approximately $716,554.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director George Herrera sold 2,969 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $45.33, for a total transaction of $134,584.77. Following the sale, the director now owns 2,193 shares in the company, valued at $99,408.69. The disclosure for this sale can be found here. Insiders sold 28,922 shares of company stock valued at $1,318,358 in the last quarter. Company insiders own 4.02% of the company’s stock.

Travel + Leisure Profile

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.