Travel + Leisure (NYSE:TNL) Sets New 12-Month High After Dividend Announcement

Travel + Leisure Co. (NYSE:TNL) shares reached a new 52-week high on Wednesday after the company announced a dividend. The stock traded as high as $52.30 and last traded at $52.30, with a volume of 2546 shares trading hands. The stock had previously closed at $49.90.

The newly announced dividend which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.00 dividend on an annualized basis and a yield of 3.75%. Travel + Leisure’s payout ratio is 33.96%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TNL. JPMorgan Chase & Co. lifted their price objective on shares of Travel + Leisure from $53.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Barclays lifted their target price on shares of Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their target price on shares of Travel + Leisure from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Truist Financial dropped their target price on shares of Travel + Leisure from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Finally, Tigress Financial lifted their target price on shares of Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Travel + Leisure presently has an average rating of “Moderate Buy” and an average target price of $55.67.

Travel + Leisure Stock Performance

The company has a market cap of $3.65 billion, a PE ratio of 9.05, a PEG ratio of 0.76 and a beta of 1.61. The firm’s 50 day moving average is $45.80 and its 200-day moving average is $44.95.

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 the consensus estimate 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 analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company earned $1.54 EPS. Travel + Leisure’s revenue was up .7% compared to the same quarter last year. On average, analysts predict that Travel + Leisure Co. will post 5.77 EPS for the current year.

Insider Activity

In other news, Director Stephen P. Holmes sold 80,000 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were 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 $17,258,129.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director George Herrera sold 2,193 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total value of $93,158.64. Following the completion of the sale, the director now owns 6,352 shares of the company’s stock, valued at $269,832.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stephen P. Holmes sold 80,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 362,947 shares of the company’s stock, valued at approximately $17,258,129.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,448 shares of company stock valued at $4,294,241 in the last 90 days. Company insiders own 4.02% of the company’s stock.

Institutional Trading of Travel + Leisure

Several hedge funds have recently made changes to their positions in the company. Savoir Faire Capital Management L.P. lifted its holdings in shares of Travel + Leisure by 70.4% in the 3rd quarter. Savoir Faire Capital Management L.P. now owns 34,087 shares of the company’s stock worth $1,571,000 after acquiring an additional 14,087 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Travel + Leisure by 42.3% in the 3rd quarter. Quest Partners LLC now owns 31,564 shares of the company’s stock worth $1,454,000 after acquiring an additional 9,383 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Travel + Leisure by 57.7% in the 3rd quarter. Empowered Funds LLC now owns 15,008 shares of the company’s stock worth $692,000 after acquiring an additional 5,494 shares during the last quarter. Hourglass Capital LLC lifted its holdings in shares of Travel + Leisure by 2.9% in the 3rd quarter. Hourglass Capital LLC now owns 36,000 shares of the company’s stock worth $1,659,000 after acquiring an additional 1,020 shares during the last quarter. Finally, Versor Investments LP lifted its holdings in shares of Travel + Leisure by 45.4% in the 3rd quarter. Versor Investments LP now owns 40,290 shares of the company’s stock worth $1,857,000 after acquiring an additional 12,585 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.

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.