Travel + Leisure Co. (NYSE:TNL) Holdings Lifted by Picton Mahoney Asset Management

Picton Mahoney Asset Management boosted its position in shares of Travel + Leisure Co. (NYSE:TNL) by 31.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,721 shares of the company’s stock after buying an additional 2,577 shares during the period. Picton Mahoney Asset Management’s holdings in Travel + Leisure were worth $541,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Commonwealth Equity Services LLC lifted its holdings in shares of Travel + Leisure by 31.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 5,906 shares of the company’s stock valued at $298,000 after purchasing an additional 1,397 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Travel + Leisure by 2.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,944 shares of the company’s stock valued at $451,000 after purchasing an additional 236 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings in shares of Travel + Leisure by 31.5% during the fourth quarter. Great Lakes Advisors LLC now owns 313,768 shares of the company’s stock valued at $15,830,000 after purchasing an additional 75,075 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Travel + Leisure by 3.2% during the fourth quarter. HighTower Advisors LLC now owns 9,982 shares of the company’s stock valued at $504,000 after purchasing an additional 314 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Travel + Leisure during the fourth quarter valued at $563,000. 87.54% of the stock is owned by hedge funds and other institutional investors.

Travel + Leisure Price Performance

TNL opened at $48.04 on Friday. Travel + Leisure Co. has a fifty-two week low of $39.91 and a fifty-two week high of $58.95. The business has a 50-day moving average of $53.70 and a 200-day moving average of $50.63. The company has a market capitalization of $3.20 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 0.67 and a beta of 1.61.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The company had revenue of $971.00 million during the quarter, compared to the consensus estimate of $958.87 million. During the same period last year, the business earned $1.98 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.56 per share. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, March 17th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.66%. Travel + Leisure’s dividend payout ratio is currently 38.36%.

Insider Activity

In other Travel + Leisure news, insider Michael Dean Brown bought 2,000 shares of the stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $46.66 per share, with a total value of $93,320.00. Following the acquisition, the insider now directly owns 408,706 shares of the company’s stock, valued at $19,070,221.96. This represents a 0.49 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.02% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TNL shares. Tigress Financial upped their target price on Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Bank of America raised Travel + Leisure from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $60.00 in a research note on Monday, January 27th. Truist Financial increased their price objective on Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. JPMorgan Chase & Co. increased their price objective on Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Mizuho reissued a “neutral” rating and issued a $64.00 price objective (up from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Travel + Leisure currently has an average rating of “Moderate Buy” and an average price target of $63.70.

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.