Franklin Resources Inc. Buys 33,111 Shares of Travel + Leisure Co. (NYSE:TNL)

Franklin Resources Inc. grew its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 182.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,216 shares of the company’s stock after purchasing an additional 33,111 shares during the period. Franklin Resources Inc.’s holdings in Travel + Leisure were worth $2,337,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TNL. Sanctuary Advisors LLC grew its holdings in Travel + Leisure by 168.3% in the third quarter. Sanctuary Advisors LLC now owns 16,550 shares of the company’s stock worth $763,000 after purchasing an additional 10,382 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Travel + Leisure in the 3rd quarter worth approximately $1,180,000. Barclays PLC grew its stake in shares of Travel + Leisure by 80.4% in the 3rd quarter. Barclays PLC now owns 225,326 shares of the company’s stock worth $10,383,000 after buying an additional 100,440 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in Travel + Leisure by 3.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 29,516 shares of the company’s stock valued at $1,360,000 after buying an additional 853 shares in the last quarter. Finally, XTX Topco Ltd raised its stake in Travel + Leisure by 69.5% during the third quarter. XTX Topco Ltd now owns 30,680 shares of the company’s stock valued at $1,414,000 after buying an additional 12,585 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Insider Activity at Travel + Leisure

In other news, Director Stephen P. Holmes sold 80,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $47.55, for a total transaction of $3,804,000.00. Following the sale, the director now directly owns 362,947 shares in the company, valued at approximately $17,258,129.85. This represents a 18.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geoffrey Richards sold 5,009 shares of Travel + Leisure stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $52.16, for a total value of $261,269.44. Following the completion of the transaction, the insider now owns 125,209 shares of the company’s stock, valued at approximately $6,530,901.44. This trade represents a 3.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,016 shares of company stock valued at $4,846,863. 4.02% of the stock is owned by company insiders.

Travel + Leisure Price Performance

NYSE:TNL opened at $51.03 on Friday. Travel + Leisure Co. has a one year low of $37.99 and a one year high of $56.91. The business has a fifty day moving average price of $52.06 and a 200-day moving average price of $47.11. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 8.66, a price-to-earnings-growth ratio of 0.77 and a beta of 1.63.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.08. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The company had revenue of $993.00 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the company posted $1.54 EPS. The firm’s revenue was up .7% on a year-over-year basis. On average, equities research analysts expect that Travel + Leisure Co. will post 5.75 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, December 13th. Travel + Leisure’s dividend payout ratio is currently 33.96%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TNL shares. Tigress Financial raised their price target on Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a report on Friday, November 1st. Truist Financial raised their price objective on shares of Travel + Leisure from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Stifel Nicolaus lifted their target price on shares of Travel + Leisure from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. The Goldman Sachs Group increased their price target on shares of Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Barclays boosted their price objective on shares of Travel + Leisure from $41.00 to $48.00 and gave the stock an “underweight” rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.50.

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.