Retirement Systems of Alabama Trims Stock Position in Travel + Leisure Co. (NYSE:TNL)

Retirement Systems of Alabama trimmed its stake in Travel + Leisure Co. (NYSE:TNL) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,271 shares of the company’s stock after selling 1,569 shares during the period. Retirement Systems of Alabama’s holdings in Travel + Leisure were worth $13,837,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TNL. UMB Bank n.a. grew its holdings in shares of Travel + Leisure by 1,948.1% during the third quarter. UMB Bank n.a. now owns 553 shares of the company’s stock worth $25,000 after purchasing an additional 526 shares during the last quarter. Versant Capital Management Inc boosted its position 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 purchasing an additional 210 shares during the period. MassMutual Private Wealth & Trust FSB grew 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 buying an additional 503 shares during the last quarter. Brooklyn Investment Group acquired a new position in Travel + Leisure during the third quarter worth approximately $43,000. Finally, Capital Performance Advisors LLP purchased a new stake in Travel + Leisure in the third quarter valued at approximately $44,000. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TNL. 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 target price on the stock. Barclays lifted their price objective on shares of Travel + Leisure from $41.00 to $48.00 and gave the company an “underweight” rating in a research note on Friday, December 13th. Truist Financial increased their target price on shares of Travel + Leisure from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Bank of America upgraded Travel + Leisure from an “underperform” rating to a “buy” rating and boosted their price target for the company from $40.00 to $60.00 in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. increased their price objective on Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.55.

Travel + Leisure Stock Performance

NYSE:TNL opened at $56.32 on Friday. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.63 and a beta of 1.64. Travel + Leisure Co. has a 1 year low of $39.78 and a 1 year high of $57.62. The stock has a fifty day moving average price of $52.74 and a two-hundred day moving average price of $48.71.

Insider Activity

In other Travel + Leisure news, insider Geoffrey Richards sold 4,607 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $54.25, for a total transaction of $249,929.75. Following the transaction, the insider now directly owns 120,602 shares in the company, valued at approximately $6,542,658.50. This represents a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.02% 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.