Travel + Leisure Co. $TNL Stock Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 69.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,200 shares of the company’s stock after selling 9,400 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Travel + Leisure were worth $260,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Childress Capital Advisors LLC acquired a new position in shares of Travel + Leisure during the third quarter valued at approximately $360,000. Victory Financial Group LLC bought a new stake in Travel + Leisure during the third quarter worth approximately $686,000. Signaturefd LLC lifted its position in Travel + Leisure by 53.8% in the third quarter. Signaturefd LLC now owns 1,666 shares of the company’s stock worth $103,000 after purchasing an additional 583 shares during the period. Iridian Asset Management LLC CT lifted its position in Travel + Leisure by 1.0% in the third quarter. Iridian Asset Management LLC CT now owns 198,075 shares of the company’s stock worth $12,255,000 after purchasing an additional 1,873 shares during the period. Finally, Sterling Capital Management LLC lifted its position in Travel + Leisure by 4.1% in the third quarter. Sterling Capital Management LLC now owns 31,318 shares of the company’s stock worth $1,938,000 after purchasing an additional 1,238 shares during the period. 87.54% of the stock is currently owned by institutional investors.

Travel + Leisure Price Performance

Shares of TNL opened at $75.30 on Monday. The firm’s 50 day moving average is $66.13 and its 200-day moving average is $70.56. Travel + Leisure Co. has a 12-month low of $60.34 and a 12-month high of $81.00. The stock has a market capitalization of $4.54 billion, a P/E ratio of 20.24, a P/E/G ratio of 0.74 and a beta of 1.21.

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

Travel + Leisure Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TNL shares. Susquehanna decreased their price target on Travel + Leisure from $95.00 to $75.00 and set a “positive” rating for the company in a research note on Thursday, October 15th. JPMorgan Chase & Co. boosted their price objective on Travel + Leisure from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 28th. Barclays cut their price objective on Travel + Leisure from $77.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, October 28th. Zacks Research raised Travel + Leisure from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 3rd. Finally, The Goldman Sachs Group decreased their target price on Travel + Leisure from $87.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, October 15th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Travel + Leisure currently has an average rating of “Moderate Buy” and a consensus target price of $85.25.

Insider Activity

In other Travel + Leisure news, CAO Thomas Michael Duncan sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $74.16, for a total value of $1,483,200.00. Following the transaction, the chief accounting officer owned 5,307 shares of the company’s stock, valued at approximately $393,567.12. This represents a 79.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.01% of the company’s stock.

Travel + Leisure Company Profile

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.