Iridian Asset Management LLC CT Buys 6,757 Shares of Travel + Leisure Co. (NYSE:TNL)

Iridian Asset Management LLC CT lifted its stake in Travel + Leisure Co. (NYSE:TNL) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 534,156 shares of the company’s stock after acquiring an additional 6,757 shares during the period. Travel + Leisure accounts for approximately 5.3% of Iridian Asset Management LLC CT’s holdings, making the stock its 3rd biggest position. Iridian Asset Management LLC CT owned approximately 0.77% of Travel + Leisure worth $24,614,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TNL. Wealth Enhancement Advisory Services LLC boosted its stake in Travel + Leisure by 1.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,068 shares of the company’s stock valued at $1,668,000 after buying an additional 445 shares in the last quarter. Diversified Trust Co acquired a new position in shares of Travel + Leisure in the 1st quarter worth approximately $576,000. State of Michigan Retirement System raised its holdings in shares of Travel + Leisure by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 17,807 shares of the company’s stock worth $872,000 after purchasing an additional 400 shares in the last quarter. Private Advisor Group LLC lifted its stake in Travel + Leisure by 11.1% during the first quarter. Private Advisor Group LLC now owns 11,894 shares of the company’s stock valued at $582,000 after purchasing an additional 1,184 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Travel + Leisure by 20.2% during the first quarter. Janney Montgomery Scott LLC now owns 40,570 shares of the company’s stock worth $1,986,000 after buying an additional 6,807 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on TNL shares. Deutsche Bank Aktiengesellschaft cut their price objective on Travel + Leisure from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Truist Financial decreased their price target on Travel + Leisure from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. lifted their price target on Travel + Leisure from $53.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Barclays upped their price objective on shares of Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their target price on shares of Travel + Leisure from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Travel + Leisure currently has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Insider Transactions at Travel + Leisure

In related news, Director Stephen P. Holmes sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $47.55, for a total value of $3,804,000.00. Following the completion of the sale, the director now owns 362,947 shares of the company’s stock, valued at approximately $17,258,129.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Amandine Robin-Caplan sold 3,246 shares of Travel + Leisure stock in a transaction 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 owns 24,491 shares of the company’s stock, valued at approximately $1,024,703.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen P. Holmes sold 80,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $47.55, for a total transaction of $3,804,000.00. Following the transaction, the director now directly owns 362,947 shares in the company, valued at $17,258,129.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,439 shares of company stock valued at $4,032,971 in the last three months. Corporate insiders own 4.02% of the company’s stock.

Travel + Leisure Stock Performance

TNL stock opened at $49.20 on Thursday. The firm has a 50 day simple moving average of $45.01 and a 200 day simple moving average of $44.69. Travel + Leisure Co. has a 52 week low of $32.74 and a 52 week high of $49.91. The stock has a market cap of $3.37 billion, a P/E ratio of 8.35, a P/E/G ratio of 0.69 and a beta of 1.62.

Travel + Leisure (NYSE:TNL) last issued its earnings results 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 net margin of 10.99% and a negative return on equity of 48.06%. The company had revenue of $993.00 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $1.54 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts predict that Travel + Leisure Co. will post 5.74 EPS for the current year.

Travel + Leisure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.07%. The ex-dividend date was Friday, September 13th. Travel + Leisure’s payout ratio is currently 33.96%.

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.