Travel + Leisure Co. (NYSE:TNL) Position Reduced by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in Travel + Leisure Co. (NYSE:TNL) by 22.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 56,673 shares of the company’s stock after selling 16,670 shares during the period. Thrivent Financial for Lutherans’ holdings in Travel + Leisure were worth $2,859,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in Travel + Leisure by 21.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company’s stock valued at $36,540,000 after buying an additional 138,153 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Travel + Leisure in the 3rd quarter valued at approximately $892,000. FMR LLC raised its position in shares of Travel + Leisure by 28.5% during the 3rd quarter. FMR LLC now owns 261,599 shares of the company’s stock valued at $12,054,000 after acquiring an additional 58,008 shares in the last quarter. Brooklyn Investment Group bought a new position in Travel + Leisure during the third quarter worth $43,000. Finally, Freedom Investment Management Inc. boosted its holdings in Travel + Leisure by 67.6% in the third quarter. Freedom Investment Management Inc. now owns 9,830 shares of the company’s stock worth $453,000 after purchasing an additional 3,965 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.

Travel + Leisure Stock Performance

Shares of TNL opened at $47.24 on Friday. Travel + Leisure Co. has a one year low of $39.91 and a one year high of $58.95. The stock’s fifty day moving average is $53.10 and its 200-day moving average is $50.83. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 8.09, a price-to-earnings-growth ratio of 0.67 and a beta of 1.61.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, February 19th. The company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.68 by $0.04. The firm had revenue of $971.00 million for the quarter, compared to analysts’ expectations of $958.87 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. Travel + Leisure’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $1.98 EPS. Analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 4.74%. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, March 17th. Travel + Leisure’s dividend payout ratio is 38.36%.

Analyst Ratings Changes

TNL has been the topic of a number of recent research reports. Tigress Financial raised their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Truist Financial raised their target price on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Bank of America raised Travel + Leisure from an “underperform” rating to a “buy” rating and upped their target price for the company from $40.00 to $60.00 in a report on Monday, January 27th. Barclays raised their price target on Travel + Leisure from $48.00 to $54.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Finally, Morgan Stanley started coverage on Travel + Leisure in a research note on Monday, January 6th. They set an “overweight” rating and a $67.00 price objective for the company. One equities research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.70.

Insider Buying and Selling at Travel + Leisure

In other Travel + Leisure news, insider Michael Dean Brown acquired 2,000 shares of Travel + Leisure stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the transaction, the insider now owns 408,706 shares in the company, valued at approximately $19,070,221.96. This trade represents a 0.49 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George Herrera sold 6,336 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total transaction of $296,524.80. Following the completion of the sale, the director now owns 2,759 shares in the company, valued at $129,121.20. The trade was a 69.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.02% of the stock is currently owned by corporate insiders.

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.