Morgan Stanley boosted its holdings in shares of Travel + Leisure Co. (NYSE:TNL – Get Rating) by 10.8% in the third quarter, Holdings Channel.com reports. The fund owned 396,018 shares of the company’s stock after acquiring an additional 38,741 shares during the quarter. Morgan Stanley’s holdings in Travel + Leisure were worth $21,594,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of TNL. Deutsche Bank AG boosted its holdings in Travel + Leisure by 8,156.0% during the 3rd quarter. Deutsche Bank AG now owns 514,017 shares of the company’s stock valued at $28,028,000 after acquiring an additional 507,791 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Travel + Leisure by 39.0% during the 3rd quarter. Goldman Sachs Group Inc. now owns 1,347,701 shares of the company’s stock valued at $73,490,000 after acquiring an additional 377,892 shares during the period. New York State Teachers Retirement System boosted its holdings in Travel + Leisure by 271.7% during the 3rd quarter. New York State Teachers Retirement System now owns 449,517 shares of the company’s stock valued at $24,512,000 after acquiring an additional 328,575 shares during the period. Invesco Ltd. boosted its holdings in Travel + Leisure by 4.2% during the 2nd quarter. Invesco Ltd. now owns 7,014,604 shares of the company’s stock valued at $417,020,000 after acquiring an additional 280,153 shares during the period. Finally, Bamco Inc. NY boosted its holdings in Travel + Leisure by 45.1% during the 3rd quarter. Bamco Inc. NY now owns 886,461 shares of the company’s stock valued at $48,339,000 after acquiring an additional 275,615 shares during the period. Institutional investors own 86.77% of the company’s stock.
In other news, insider Geoffrey Richards sold 13,000 shares of the business’s stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $60.47, for a total value of $786,110.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.93% of the company’s stock.
A number of research firms recently issued reports on TNL. Truist Financial boosted their price objective on Travel + Leisure from $76.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, November 16th. Zacks Investment Research cut Travel + Leisure from a “buy” rating to a “hold” rating in a report on Thursday, January 20th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $71.00.
TNL opened at $53.80 on Friday. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 23.09 and a beta of 1.84. Travel + Leisure Co. has a 12 month low of $46.81 and a 12 month high of $68.26. The stock has a fifty day moving average price of $56.58 and a 200-day moving average price of $54.79.
Travel + Leisure (NYSE:TNL – Get Rating) last released its quarterly earnings results on Wednesday, February 23rd. The company reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.22. The firm had revenue of $870.00 million during the quarter, compared to analyst estimates of $788.19 million. Travel + Leisure had a negative return on equity of 26.19% and a net margin of 7.01%. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. On average, research analysts forecast that Travel + Leisure Co. will post 3.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.97%. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.35. The ex-dividend date is Monday, March 14th. Travel + Leisure’s payout ratio is presently 60.09%.
About Travel + Leisure (Get Rating)
Travel + Leisure Co is a membership and leisure travel company, with a portfolio of nearly 20 resort, travel club, and lifestyle travel brands. The company provides outstanding vacation experiences and travel inspiration to millions of owners, members, and subscribers every year through its products and services: Wyndham Destinations, the vacation ownership company with 230 vacation club resort locations across the globe; Panorama, the membership travel business that includes the vacation exchange company, industry travel technology, and subscription travel brands; and Travel + Leisure Group, featuring online and print travel content, online booking platforms and travel clubs, and branded consumer products.
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