Teacher Retirement System of Texas Buys 6,663 Shares of Travel + Leisure Co. (NYSE:TNL)

Teacher Retirement System of Texas lifted its position in Travel + Leisure Co. (NYSE:TNL) by 25.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,102 shares of the company’s stock after acquiring an additional 6,663 shares during the quarter. Teacher Retirement System of Texas’ holdings in Travel + Leisure were worth $1,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Travel + Leisure by 21.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company’s stock worth $36,540,000 after purchasing an additional 138,153 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Travel + Leisure in the third quarter valued at approximately $892,000. FMR LLC increased its position in shares of Travel + Leisure by 28.5% during the third quarter. FMR LLC now owns 261,599 shares of the company’s stock valued at $12,054,000 after acquiring an additional 58,008 shares during the last quarter. Brooklyn Investment Group bought a new stake in Travel + Leisure during the third quarter worth $43,000. Finally, Freedom Investment Management Inc. boosted its position in Travel + Leisure by 67.6% in the third quarter. Freedom Investment Management Inc. now owns 9,830 shares of the company’s stock worth $453,000 after purchasing an additional 3,965 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Travel + Leisure Price Performance

Shares of TNL stock opened at $47.24 on Friday. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 0.67 and a beta of 1.61. The company’s fifty day simple moving average is $53.10 and its two-hundred day simple moving average is $50.83. Travel + Leisure Co. has a 1 year low of $39.91 and a 1 year high of $58.95.

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

Travel + Leisure Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.56 dividend. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date is Monday, March 17th. Travel + Leisure’s dividend payout ratio (DPR) is 38.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on Travel + Leisure from $49.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Mizuho restated a “neutral” rating and set a $64.00 price objective (up previously from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. Barclays boosted their target price on shares of Travel + Leisure from $48.00 to $54.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Truist Financial raised their price target on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Finally, Tigress Financial upped their price objective on Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.70.

Insider Activity at Travel + Leisure

In other news, Director George Herrera sold 6,336 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were 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 $129,121.20. The trade was a 69.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Dean Brown acquired 2,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the transaction, the insider now directly owns 408,706 shares of the company’s stock, valued at $19,070,221.96. This represents a 0.49 % increase in their position. The disclosure for this purchase can be found here. 4.02% of the stock is owned by corporate insiders.

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.