State of Michigan Retirement System Sells 600 Shares of Travel + Leisure Co. (NYSE:TNL)


Michigan State Retirement System increased its position in Travel + Leisure Co . (NYSE:TNL – Get Rating ) 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,107 shares of the company’s stock after selling 600 shares during the period. State of Michigan Retirement System’s holdings in Travel + Leisure were worth $720,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the company. GMT Capital Corp acquired a new stake in shares of Travel + Leisure in the second quarter valued at about $67,112,000. BlackRock Inc. increased. its position in shares of Travel + Leisure by 13.9% in the first quarter. BlackRock Inc. owns now owns 9,806,796 shares of the company’s stock valued at $568,206,000 after acquiring an additional 1,197,611 shares during the last quarter. Copeland Capital Management LLC boosted its position in shares of Travel + Leisure by 198.1% in the second quarter. Copeland Capital Management LLC now owns 1,006,481 shares of the company’s stock valued at $39,071,000 after acquiring an additional 668,819 shares in the last quarter. Invesco Ltd. increased. its position in shares of Travel + Leisure by 11.8% in the first quarter. Invesco Ltd. is owned by now owns 6,057,641 shares of the company’s stock valued at $350,980,000 after acquiring an additional 636,968 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Travel + Leisure by 82.9% in the second quarter. AQR Capital Management LLC now owns 1,261,767 shares of the company’s stock valued at $48,149,000 after acquiring an additional 572,057 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

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Travel + Leisure Trade Increase 3.6%

Travel + Leisure stock opened at $37.84 on Friday. Travel + Leisure Co. has a 12-month low of $33.57. and a 12-month high of $63.19. The stock’s 50-day moving average is $37.24 and its 200-day moving average is $39.76. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 8.70 and a beta of 1.65.

Travel + Leisure (NYSE:TNL – Get Rating ) posted its earnings results on Thursday, October 27th. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.01). Travel + Leisure had a net margin of 10.57% and a negative return on equity of 45.32%. The firm had revenue of $937.00 million during the quarter, compared to analyst estimates of $943.06 million. As a group, equities research analysts predict that Travel + Leisure Co. will 4.46 earnings per share for the current fiscal year.

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Travel + Leisure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Thursday, December 15th were given a $0.40 dividend. This equates to an annual dividend of $1.60 and a dividend yield of 4.23%. The dividend date was Wednesday, December 14th. Travel + Leisure’s payout ratio is 36.78%.

Analyst Ratings Changes

A number of research firms have recently issued reports on TNL. Barclays lowered their target price on Travel + Leisure to $43.00 in a research report on Tuesday, November 1st. Deutsche Bank Aktiengesellschaft lowered their price target on Travel + Leisure from $69.00 to $62.00 in a research report on Friday, October 28th. Credit Suisse Group downgraded Travel + Leisure from an “outperform” rating to an “underperform” rating in a research report on Friday, October 28th. Finally, Truist Financial lowered their price target on Travel + Leisure from $72.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, November 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.00.

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Indoor Activity

In other news, Director George Herrera sold 882 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $38.58, for a total value of $34,027.56. Following the transaction, the director now owns 40,320 shares of the company’s stock, valued at $1,555,545.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC’s website. 2.07% of the stock is owned by company insiders.

Travel + Leisure Company Profile

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Travel + Leisure Co., together with its subsidiaries, provides hospitality services and 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; provides consumer financing for the sale of VOIs; and provides property management services at resorts.

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Institutional Ownership by Quarter for Travel + Leisure (NYSE:TNL)



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