Travel + Leisure Co. (NYSE:TNL) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its stake in Travel + Leisure Co. (NYSE:TNL) by 14.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,204 shares of the company’s stock after selling 9,067 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.08% of Travel + Leisure worth $2,438,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new position in Travel + Leisure in the 2nd quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its holdings in Travel + Leisure by 2,759.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock valued at $28,000 after purchasing an additional 607 shares in the last quarter. Family Firm Inc. acquired a new stake in Travel + Leisure during the 2nd quarter worth $31,000. Larson Financial Group LLC purchased a new stake in shares of Travel + Leisure during the second quarter worth $36,000. Finally, Abich Financial Wealth Management LLC raised its position in shares of Travel + Leisure by 10,344.4% in the first quarter. Abich Financial Wealth Management LLC now owns 940 shares of the company’s stock valued at $46,000 after buying an additional 931 shares during the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TNL has been the subject of several analyst reports. Truist Financial dropped their target price on Travel + Leisure from $65.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on Travel + Leisure from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Tigress Financial lifted their target price on Travel + Leisure from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. increased their price target on Travel + Leisure from $53.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.63.

Travel + Leisure Stock Down 1.0 %

TNL opened at $42.02 on Tuesday. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 0.58 and a beta of 1.62. Travel + Leisure Co. has a 52 week low of $32.10 and a 52 week high of $49.91. The business’s 50 day moving average is $44.11 and its two-hundred day moving average is $44.74.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, July 24th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The business had revenue of $985.00 million for the quarter, compared to analyst estimates of $987.20 million. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 11.35%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 earnings per share. Equities analysts expect that Travel + Leisure Co. will post 5.67 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.76%. The ex-dividend date is Friday, September 13th. Travel + Leisure’s payout ratio is 36.83%.

Insider Buying and Selling

In other Travel + Leisure news, insider Amandine Robin-Caplan sold 3,246 shares of Travel + Leisure stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $41.84, for a total value of $135,812.64. Following the completion of the sale, the insider now directly owns 24,491 shares of the company’s stock, valued at approximately $1,024,703.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.02% of the stock is currently owned by company insiders.

Travel + Leisure Profile

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.