Jacobs Levy Equity Management Inc. reduced its holdings in Travel + Leisure Co. (NYSE:TNL – Free Report) by 37.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,976 shares of the company’s stock after selling 113,358 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.27% of Travel + Leisure worth $9,252,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of TNL. Allworth Financial LP lifted its stake in shares of Travel + Leisure by 147.5% in the fourth quarter. Allworth Financial LP now owns 698 shares of the company’s stock worth $27,000 after buying an additional 416 shares in the last quarter. SRS Capital Advisors Inc. increased its position in Travel + Leisure by 334.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 764 shares of the company’s stock worth $30,000 after purchasing an additional 588 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Travel + Leisure during the fourth quarter worth about $36,000. Arlington Trust Co LLC acquired a new stake in Travel + Leisure during the fourth quarter worth about $53,000. Finally, Quent Capital LLC increased its position in Travel + Leisure by 23.6% during the fourth quarter. Quent Capital LLC now owns 1,454 shares of the company’s stock worth $57,000 after purchasing an additional 278 shares during the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.
Travel + Leisure Trading Up 1.3 %
TNL traded up $0.59 during trading hours on Tuesday, hitting $46.83. 453,999 shares of the company’s stock were exchanged, compared to its average volume of 568,822. Travel + Leisure Co. has a 12-month low of $32.10 and a 12-month high of $49.91. The firm has a 50 day moving average of $44.90 and a 200 day moving average of $44.34. The firm has a market cap of $3.27 billion, a P/E ratio of 8.63, a price-to-earnings-growth ratio of 2.53 and a beta of 1.63.
Travel + Leisure Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, June 14th. Travel + Leisure’s dividend payout ratio is presently 36.83%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Travel + Leisure from $53.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Travel + Leisure from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Tigress Financial raised their price objective on shares of Travel + Leisure from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Barclays raised their price objective on shares of Travel + Leisure from $44.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.25.
View Our Latest Analysis on Travel + Leisure
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.
Further Reading
- Five stocks we like better than Travel + Leisure
- Transportation Stocks Investing
- AbbVie Analysts Lead the Stock Higher as Humira Worries Recede
- Want to Profit on the Downtrend? Downtrends, Explained.
- Harley-Davidson Stock Revs Up With Billion Dollar Buyback Program
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- Cruise Line Stock Sinks Despite Beating EPS and Raised Guidance
Want to see what other hedge funds are holding TNL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Travel + Leisure Co. (NYSE:TNL – Free Report).
Receive News & Ratings for Travel + Leisure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Travel + Leisure and related companies with MarketBeat.com's FREE daily email newsletter.