Canada Pension Plan Investment Board Raises Stock Holdings in Travel + Leisure Co. (NYSE:TNL)

Canada Pension Plan Investment Board increased its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 333.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,300 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Travel + Leisure were worth $66,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in shares of Travel + Leisure by 30.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock worth $39,000 after purchasing an additional 181 shares during the last quarter. Cerity Partners LLC boosted its position in Travel + Leisure by 1.0% during the fourth quarter. Cerity Partners LLC now owns 19,549 shares of the company’s stock worth $986,000 after acquiring an additional 200 shares during the last quarter. UMB Bank n.a. grew its stake in Travel + Leisure by 36.9% in the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock worth $38,000 after acquiring an additional 204 shares during the period. Versant Capital Management Inc raised its holdings in 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 acquiring an additional 210 shares during the last quarter. Finally, Hourglass Capital LLC lifted its stake in shares of Travel + Leisure by 0.6% during the 4th quarter. Hourglass Capital LLC now owns 36,230 shares of the company’s stock worth $1,828,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.

Analysts Set New Price Targets

TNL has been the subject of a number of recent analyst reports. Bank of America raised Travel + Leisure from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $60.00 in a research report on Monday, January 27th. Barclays dropped their price objective on shares of Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating for the company in a research note on Thursday. Tigress Financial raised their target price on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Truist Financial upped their price target on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Finally, Mizuho reiterated a “neutral” rating and issued a $64.00 price target (up previously from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Travel + Leisure has a consensus rating of “Moderate Buy” and an average price target of $59.20.

Insiders Place Their Bets

In other news, insider Michael Dean Brown acquired 2,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the acquisition, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Herrera sold 6,336 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value of $296,524.80. Following the sale, the director now owns 2,759 shares of the company’s stock, valued at $129,121.20. This represents a 69.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.75% of the stock is owned by company insiders.

Travel + Leisure Stock Up 0.9 %

Travel + Leisure stock opened at $44.15 on Friday. The firm has a market capitalization of $2.94 billion, a P/E ratio of 7.56, a PEG ratio of 0.67 and a beta of 1.40. The firm has a fifty day moving average of $47.46 and a 200-day moving average of $50.53. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $58.95.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.10 by $0.01. The company had revenue of $934.00 million for the quarter, compared to analyst estimates of $933.08 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. On average, research analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a yield of 5.07%. Travel + Leisure’s payout ratio is 37.40%.

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.