Travel + Leisure Co. $TNL Stake Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 11.2% during the second quarter, Holdings Channel reports. The firm owned 307,428 shares of the company’s stock after selling 38,815 shares during the period. JPMorgan Chase & Co.’s holdings in Travel + Leisure were worth $15,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Travel + Leisure by 8.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company’s stock valued at $46,039,000 after acquiring an additional 79,430 shares during the period. HighTower Advisors LLC lifted its position in Travel + Leisure by 314.4% in the 1st quarter. HighTower Advisors LLC now owns 41,369 shares of the company’s stock valued at $1,915,000 after purchasing an additional 31,387 shares during the last quarter. Voya Investment Management LLC boosted its stake in Travel + Leisure by 362.0% during the 1st quarter. Voya Investment Management LLC now owns 175,221 shares of the company’s stock valued at $8,111,000 after purchasing an additional 137,295 shares during the period. Farther Finance Advisors LLC boosted its stake in Travel + Leisure by 2,704.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,963 shares of the company’s stock valued at $101,000 after purchasing an additional 1,893 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in Travel + Leisure in the 1st quarter worth about $2,717,000. Institutional investors and hedge funds own 87.54% of the company’s stock.

Travel + Leisure Stock Performance

Shares of NYSE:TNL opened at $68.54 on Friday. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 0.60 and a beta of 1.39. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $70.43. The company has a 50 day moving average price of $63.45 and a 200 day moving average price of $59.06.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.08. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Travel + Leisure had a negative return on equity of 49.06% and a net margin of 10.36%.The company’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.57 EPS. On average, sell-side analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, December 12th. Travel + Leisure’s payout ratio is presently 36.84%.

Insider Activity

In related news, Director George Herrera sold 559 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $68.18, for a total value of $38,112.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geoffrey Richards sold 62,525 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $65.17, for a total transaction of $4,074,754.25. Following the completion of the transaction, the insider directly owned 39,604 shares of the company’s stock, valued at $2,580,992.68. This represents a 61.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 198,776 shares of company stock valued at $13,080,628 over the last ninety days. Corporate insiders own 3.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price target on Travel + Leisure from $54.00 to $63.00 and gave the company an “underweight” rating in a report on Thursday, October 23rd. The Goldman Sachs Group boosted their price target on Travel + Leisure from $61.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Wells Fargo & Company assumed coverage on Travel + Leisure in a research note on Tuesday, November 18th. They issued an “overweight” rating and a $74.00 price target for the company. Morgan Stanley set a $68.00 price target on Travel + Leisure in a report on Wednesday, October 22nd. Finally, Citigroup reaffirmed an “outperform” rating on shares of Travel + Leisure in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Travel + Leisure presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.60.

Travel + Leisure Company 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.