QRG Capital Management Inc. Reduces Stake in Travel + Leisure Co. $TNL

QRG Capital Management Inc. reduced its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 41.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,732 shares of the company’s stock after selling 7,016 shares during the quarter. QRG Capital Management Inc.’s holdings in Travel + Leisure were worth $673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in shares of Travel + Leisure by 4.2% in the 4th quarter. Invesco Ltd. now owns 3,632,657 shares of the company’s stock worth $256,211,000 after purchasing an additional 146,484 shares during the period. AQR Capital Management LLC raised its holdings in Travel + Leisure by 46.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock valued at $138,449,000 after buying an additional 855,151 shares during the period. LSV Asset Management lifted its position in Travel + Leisure by 1.1% in the fourth quarter. LSV Asset Management now owns 1,612,657 shares of the company’s stock worth $113,741,000 after buying an additional 17,377 shares during the last quarter. Geode Capital Management LLC lifted its position in Travel + Leisure by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,208,918 shares of the company’s stock worth $85,281,000 after buying an additional 10,137 shares during the last quarter. Finally, Morgan Stanley lifted its position in Travel + Leisure by 9.3% in the fourth quarter. Morgan Stanley now owns 906,101 shares of the company’s stock worth $63,907,000 after buying an additional 77,135 shares during the last quarter. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Travel + Leisure Stock Up 1.6%

TNL stock opened at $73.89 on Friday. The business’s fifty day simple moving average is $70.33 and its two-hundred day simple moving average is $71.54. Travel + Leisure Co. has a twelve month low of $55.92 and a twelve month high of $81.00. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 0.55 and a beta of 1.16.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, April 22nd. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.14. The business had revenue of $961.00 million during the quarter, compared to the consensus estimate of $954.80 million. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 5.85%.The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $1.11 earnings per share. Research analysts expect that Travel + Leisure Co. will post 7.47 EPS for the current year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 12th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, June 12th. This represents a $2.40 dividend on an annualized basis and a yield of 3.2%. Travel + Leisure’s dividend payout ratio (DPR) is presently 67.42%.

Analyst Ratings Changes

A number of research analysts have weighed in on TNL shares. Wells Fargo & Company cut their price objective on shares of Travel + Leisure from $88.00 to $87.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Mizuho lowered their target price on shares of Travel + Leisure from $107.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Barclays dropped their price target on shares of Travel + Leisure from $78.00 to $74.00 and set an “equal weight” rating for the company in a research note on Thursday, April 23rd. Weiss Ratings upgraded shares of Travel + Leisure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Finally, Morgan Stanley reduced their price objective on shares of Travel + Leisure from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 12th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.40.

Insider Activity at Travel + Leisure

In other news, insider Michael Dean Brown sold 9,443 shares of Travel + Leisure stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $79.11, for a total transaction of $747,035.73. Following the completion of the sale, the insider owned 487,303 shares of the company’s stock, valued at approximately $38,550,540.33. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Herrera sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total value of $37,580.00. Following the completion of the sale, the director owned 1,353 shares of the company’s stock, valued at $101,691.48. The trade was a 26.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,074 shares of company stock worth $3,907,122 over the last ninety days. 4.01% of the stock is currently owned by company insiders.

Travel + Leisure Profile

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.