Copeland Capital Management LLC Cuts Stock Holdings in Travel + Leisure Co. $TNL

Copeland Capital Management LLC trimmed its position in shares of Travel + Leisure Co. (NYSE:TNL) by 8.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,399,776 shares of the company’s stock after selling 126,593 shares during the quarter. Travel + Leisure accounts for approximately 1.5% of Copeland Capital Management LLC’s portfolio, making the stock its 15th largest holding. Copeland Capital Management LLC’s holdings in Travel + Leisure were worth $72,243,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of Travel + Leisure by 28.3% during the 1st quarter. AQR Capital Management LLC now owns 1,827,453 shares of the company’s stock worth $83,241,000 after acquiring an additional 403,418 shares during the period. Northern Trust Corp lifted its holdings in Travel + Leisure by 3.3% during the 1st quarter. Northern Trust Corp now owns 1,071,318 shares of the company’s stock worth $49,591,000 after purchasing an additional 34,615 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Travel + Leisure by 8.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company’s stock worth $46,039,000 after purchasing an additional 79,430 shares in the last quarter. LSV Asset Management raised its holdings in shares of Travel + Leisure by 37.7% in the 1st quarter. LSV Asset Management now owns 956,109 shares of the company’s stock valued at $44,258,000 after acquiring an additional 261,528 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Travel + Leisure in the 1st quarter valued at about $41,114,000. Institutional investors own 87.54% of the company’s stock.

Insider Buying and Selling

In other Travel + Leisure news, insider Jeffrey Myers sold 110,885 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the sale, the insider directly owned 142,553 shares in the company, valued at $8,885,328.49. This represents a 43.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael Dean Brown bought 1,500 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were acquired at an average cost of $58.39 per share, for a total transaction of $87,585.00. Following the purchase, the insider owned 427,821 shares of the company’s stock, valued at approximately $24,980,468.19. The trade was a 0.35% increase in their position. The disclosure for this purchase can be found here. Insiders sold 320,174 shares of company stock valued at $19,765,874 in the last ninety days. Company insiders own 3.75% of the company’s stock.

Analyst Ratings Changes

TNL has been the topic of a number of research reports. Barclays raised their price objective on Travel + Leisure from $39.00 to $54.00 and gave the company an “underweight” rating in a report on Thursday, July 24th. JMP Securities raised their price target on Travel + Leisure from $60.00 to $70.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 24th. Wall Street Zen upgraded Travel + Leisure from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Finally, Mizuho upgraded Travel + Leisure from a “neutral” rating to an “outperform” rating and raised their target price for the company from $63.00 to $72.00 in a research note on Thursday, July 24th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Travel + Leisure currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.30.

Travel + Leisure Price Performance

Shares of TNL opened at $61.51 on Friday. Travel + Leisure Co. has a one year low of $37.77 and a one year high of $64.11. The firm has a market capitalization of $3.99 billion, a P/E ratio of 10.61, a PEG ratio of 0.58 and a beta of 1.47. The business has a fifty day moving average of $61.09 and a 200 day moving average of $53.04.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%.The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm earned $1.52 EPS. The business’s revenue was up 3.4% on a year-over-year basis. Analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 12th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Friday, September 12th. Travel + Leisure’s payout ratio is currently 38.62%.

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.