Travel + Leisure (NYSE:TNL) Hits New 12-Month High Following Dividend Announcement

Travel + Leisure Co. (NYSE:TNL) reached a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The company 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. Investors of record on Friday, December 13th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Friday, December 13th. Travel + Leisure’s dividend payout ratio (DPR) is currently 33.96%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Tigress Financial upped their target price on shares of Travel + Leisure from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays upped their target price on shares of Travel + Leisure from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group upped their target price on shares of Travel + Leisure from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note 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 note on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Travel + Leisure from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Travel + Leisure currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.67.

Travel + Leisure Stock Up 1.8 %

The stock’s 50 day moving average price is $45.80 and its 200-day moving average price is $44.95. The stock has a market capitalization of $3.65 billion, a P/E ratio of 9.05, a P/E/G ratio of 0.76 and a beta of 1.61.

Travel + Leisure (NYSE:TNL) last announced its earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.08. The company had revenue of $993.00 million during the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a net margin of 10.99% and a negative return on equity of 48.06%. Travel + Leisure’s revenue was up .7% compared to the same quarter last year. During the same period last year, the firm earned $1.54 earnings per share. Analysts anticipate that Travel + Leisure Co. will post 5.77 earnings per share for the current year.

Insiders Place Their Bets

In other Travel + Leisure news, insider Geoffrey Richards sold 5,009 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $52.16, for a total value of $261,269.44. Following the completion of the transaction, the insider now owns 125,209 shares of the company’s stock, valued at approximately $6,530,901.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Travel + Leisure news, Director Stephen P. Holmes sold 80,000 shares of the firm’s stock in a transaction 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 transaction, the director now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Geoffrey Richards sold 5,009 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $52.16, for a total transaction of $261,269.44. Following the transaction, the insider now directly owns 125,209 shares of the company’s stock, valued at approximately $6,530,901.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,448 shares of company stock valued at $4,294,241. Insiders own 4.02% of the company’s stock.

Institutional Inflows and Outflows

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

Travel + Leisure Company 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.