Mackenzie Financial Corp Acquires 3,307 Shares of Travel + Leisure Co. (NYSE:TNL)

Mackenzie Financial Corp grew its holdings in Travel + Leisure Co. (NYSE:TNL) by 49.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,932 shares of the company’s stock after purchasing an additional 3,307 shares during the quarter. Mackenzie Financial Corp’s holdings in Travel + Leisure were worth $447,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TNL. Vanguard Group Inc. boosted its position in Travel + Leisure by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 10,722,330 shares of the company’s stock valued at $419,136,000 after acquiring an additional 466,640 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Travel + Leisure by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,412,870 shares of the company’s stock valued at $63,547,000 after purchasing an additional 57,587 shares in the last quarter. LSV Asset Management grew its stake in Travel + Leisure by 23.1% in the second quarter. LSV Asset Management now owns 725,381 shares of the company’s stock valued at $32,628,000 after purchasing an additional 136,281 shares during the last quarter. Swedbank AB bought a new position in Travel + Leisure in the first quarter worth about $33,598,000. Finally, Millennium Management LLC lifted its position in shares of Travel + Leisure by 440.7% during the second quarter. Millennium Management LLC now owns 614,141 shares of the company’s stock valued at $27,624,000 after buying an additional 500,554 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TNL shares. Truist Financial decreased their target price on shares of Travel + Leisure from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft lowered 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. The Goldman Sachs Group assumed coverage on Travel + Leisure in a research report on Wednesday, September 18th. They set a “neutral” rating and a $44.00 target price on the stock. JPMorgan Chase & Co. raised 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. Finally, Barclays lowered Travel + Leisure from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $46.00 to $40.00 in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.33.

Insiders Place Their Bets

In other news, Director George Herrera sold 2,193 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total value of $93,158.64. Following the sale, the director now directly owns 6,352 shares in the company, valued at approximately $269,832.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director George Herrera sold 2,193 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total transaction of $93,158.64. Following the sale, the director now directly owns 6,352 shares in the company, valued at approximately $269,832.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Amandine Robin-Caplan sold 3,246 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $41.84, for a total transaction of $135,812.64. Following the completion of the sale, the insider now directly owns 24,491 shares in the company, valued at approximately $1,024,703.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.02% of the stock is owned by company insiders.

Travel + Leisure Stock Performance

Shares of Travel + Leisure stock opened at $47.03 on Friday. Travel + Leisure Co. has a fifty-two week low of $32.10 and a fifty-two week high of $49.91. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.63 and a beta of 1.62. The stock has a 50 day moving average of $43.61 and a 200 day moving average of $44.75.

Travel + Leisure (NYSE:TNL) last released its quarterly 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. Travel + Leisure had a net margin of 11.35% and a negative return on equity of 46.63%. The business had revenue of $985.00 million for the quarter, compared to the consensus estimate of $987.20 million. During the same period in the previous year, the firm earned $1.33 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Analysts forecast that Travel + Leisure Co. will post 5.67 EPS for the current year.

Travel + Leisure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.25%. The ex-dividend date was Friday, September 13th. Travel + Leisure’s payout ratio is currently 36.83%.

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.