Brandywine Global Investment Management LLC Lowers Position in Travel + Leisure Co. (NYSE:TNL)

Brandywine Global Investment Management LLC trimmed its stake in Travel + Leisure Co. (NYSE:TNL) by 4.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 239,480 shares of the company’s stock after selling 11,008 shares during the period. Brandywine Global Investment Management LLC’s holdings in Travel + Leisure were worth $12,082,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new stake in Travel + Leisure in the fourth quarter valued at approximately $25,000. Versant Capital Management Inc raised its holdings in shares of Travel + Leisure by 49.2% in the 4th quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock valued at $32,000 after buying an additional 210 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Travel + Leisure by 314.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company’s stock worth $33,000 after acquiring an additional 503 shares in the last quarter. UMB Bank n.a. boosted its holdings in Travel + Leisure by 36.9% during the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock valued at $38,000 after acquiring an additional 204 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Travel + Leisure by 30.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock valued at $39,000 after acquiring an additional 181 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley began coverage on shares of Travel + Leisure in a research report on Monday, January 6th. They set an “overweight” rating and a $67.00 price target on the stock. Truist Financial increased 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. Tigress Financial boosted their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Bank of America upgraded Travel + Leisure from an “underperform” rating to a “buy” rating and increased their price objective for the company from $40.00 to $60.00 in a research note on Monday, January 27th. Finally, Barclays boosted their target price on Travel + Leisure from $48.00 to $54.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.70.

Insider Buying and Selling at Travel + Leisure

In other news, 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 transaction, the director now directly owns 2,759 shares in the company, valued at approximately $129,121.20. The trade was a 69.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael Dean Brown acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $46.66 per share, with a total value of $93,320.00. Following the completion of the acquisition, the insider now directly owns 408,706 shares of the company’s stock, valued at approximately $19,070,221.96. This represents a 0.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.02% of the stock is owned by company insiders.

Travel + Leisure Trading Down 0.4 %

TNL stock opened at $46.27 on Tuesday. The stock has a market cap of $3.09 billion, a P/E ratio of 7.92, a PEG ratio of 0.67 and a beta of 1.61. Travel + Leisure Co. has a twelve month low of $39.91 and a twelve month high of $58.95. The company’s 50 day moving average is $52.87 and its two-hundred day moving average is $51.02.

Travel + Leisure (NYSE:TNL) last posted its earnings results on Wednesday, February 19th. The company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. The company had revenue of $971.00 million for the quarter, compared to the consensus estimate of $958.87 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. Travel + Leisure’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.98 earnings per share. On average, equities research analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.56 per share. The ex-dividend date was Monday, March 17th. This represents a $2.24 dividend on an annualized basis and a yield of 4.84%. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s dividend payout ratio (DPR) is currently 38.36%.

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.