Harvest Fund Management Co. Ltd Makes New $316,000 Investment in Travel + Leisure Co. (NYSE:TNL)

Harvest Fund Management Co. Ltd acquired a new position in shares of Travel + Leisure Co. (NYSE:TNL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,254 shares of the company’s stock, valued at approximately $316,000.

Several other hedge funds have also recently bought and sold shares of TNL. Atria Investments Inc lifted its position in Travel + Leisure by 14.4% during the third quarter. Atria Investments Inc now owns 5,345 shares of the company’s stock worth $246,000 after acquiring an additional 672 shares during the last quarter. Empowered Funds LLC increased 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 period. Charles Schwab Investment Management Inc. increased its holdings in shares of Travel + Leisure by 21.1% during the third 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 during the period. Cerity Partners LLC bought a new position in shares of Travel + Leisure during the third quarter worth approximately $892,000. Finally, Algert Global LLC increased its holdings in shares of Travel + Leisure by 168.9% during the third quarter. Algert Global LLC now owns 319,279 shares of the company’s stock worth $14,712,000 after purchasing an additional 200,549 shares during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Travel + Leisure Price Performance

Shares of Travel + Leisure stock opened at $47.12 on Friday. Travel + Leisure Co. has a fifty-two week low of $39.91 and a fifty-two week high of $58.95. The firm has a market capitalization of $3.14 billion, a P/E ratio of 8.07, a P/E/G ratio of 0.67 and a beta of 1.61. The company’s 50 day moving average price is $53.37 and its two-hundred day moving average price is $50.70.

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

Travel + Leisure Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s payout ratio is 38.36%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Stifel Nicolaus raised their target price on shares of Travel + Leisure from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Bank of America raised shares of Travel + Leisure from an “underperform” rating to a “buy” rating and raised their target price for the stock from $40.00 to $60.00 in a report on Monday, January 27th. Mizuho reissued a “neutral” rating and issued a $64.00 price objective (up from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Truist Financial lifted their price objective on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Finally, Tigress Financial lifted their price objective on shares of Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.70.

Insider Transactions at Travel + Leisure

In related news, insider Michael Dean Brown purchased 2,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $46.66 per share, with a total value of $93,320.00. Following the completion of the purchase, the insider now owns 408,706 shares in the company, valued at approximately $19,070,221.96. This trade represents a 0.49 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Herrera sold 6,336 shares of Travel + Leisure 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 sale, 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. 4.02% of the stock is owned by company insiders.

Travel + Leisure 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.