Bridgewater Associates LP Acquires 27,779 Shares of Travel + Leisure Co. (NYSE:TNL)

Bridgewater Associates LP increased its holdings in Travel + Leisure Co. (NYSE:TNL) by 70.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,346 shares of the company’s stock after buying an additional 27,779 shares during the period. Bridgewater Associates LP’s holdings in Travel + Leisure were worth $3,398,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Invesco Ltd. boosted its holdings in shares of Travel + Leisure by 4.8% in the fourth quarter. Invesco Ltd. now owns 3,544,548 shares of the company’s stock worth $178,822,000 after acquiring an additional 163,804 shares during the period. Copeland Capital Management LLC boosted its stake in Travel + Leisure by 0.8% in the 4th quarter. Copeland Capital Management LLC now owns 1,565,581 shares of the company’s stock worth $78,984,000 after purchasing an additional 12,111 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Travel + Leisure by 15.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company’s stock valued at $46,169,000 after buying an additional 122,173 shares in the last quarter. Norges Bank purchased a new position in Travel + Leisure during the 4th quarter valued at about $45,804,000. Finally, Bank of New York Mellon Corp increased its position in shares of Travel + Leisure by 5.3% during the fourth quarter. Bank of New York Mellon Corp now owns 905,667 shares of the company’s stock valued at $45,691,000 after buying an additional 45,447 shares during the period. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Michael Dean Brown purchased 2,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $46.66 per share, with a total value of $93,320.00. Following the acquisition, the insider now directly owns 408,706 shares in the company, valued at approximately $19,070,221.96. The trade was a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George Herrera sold 6,336 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the transaction, the director now directly owns 2,759 shares of the company’s stock, valued at approximately $129,121.20. This trade represents a 69.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TNL shares. The Goldman Sachs Group reduced their price objective on shares of Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday. Mizuho restated a “neutral” rating and set a $64.00 price target (up from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Bank of America upgraded Travel + Leisure from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $60.00 in a research report on Monday, January 27th. Barclays boosted their target price on Travel + Leisure from $48.00 to $54.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Finally, Truist Financial lifted their price target on Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.20.

Travel + Leisure Trading Up 1.0 %

Shares of NYSE TNL opened at $41.42 on Friday. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 7.09, a P/E/G ratio of 0.67 and a beta of 1.40. The stock’s 50-day moving average is $49.08 and its 200 day moving average is $50.64. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $58.95.

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

Travel + Leisure Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 5.41%. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, March 17th. Travel + Leisure’s dividend payout ratio is presently 38.36%.

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.