Retirement Systems of Alabama Has $14.36 Million Stock Holdings in Travel + Leisure Co. $TNL

Retirement Systems of Alabama cut its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 7.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 187,903 shares of the company’s stock after selling 14,297 shares during the quarter. Retirement Systems of Alabama’s holdings in Travel + Leisure were worth $14,361,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Travel + Leisure by 42.0% during the 1st quarter. Royal Bank of Canada now owns 91,184 shares of the company’s stock worth $4,222,000 after purchasing an additional 26,965 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Travel + Leisure in the first quarter valued at $396,000. Millennium Management LLC grew its stake in shares of Travel + Leisure by 129.5% in the first quarter. Millennium Management LLC now owns 413,505 shares of the company’s stock valued at $19,141,000 after buying an additional 233,345 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Travel + Leisure by 97.1% during the first quarter. Goldman Sachs Group Inc. now owns 200,286 shares of the company’s stock worth $9,271,000 after buying an additional 98,647 shares during the last quarter. Finally, United Services Automobile Association acquired a new position in Travel + Leisure during the first quarter worth $206,000. 87.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on TNL. Wells Fargo & Company increased their price target on shares of Travel + Leisure from $87.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Citigroup reaffirmed a “market outperform” rating on shares of Travel + Leisure in a report on Thursday, July 23rd. The Goldman Sachs Group upgraded shares of Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Monday, June 1st. Barclays lifted their price target on Travel + Leisure from $74.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Finally, Zacks Research raised Travel + Leisure from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $86.90.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, insider Geoffrey Richards sold 33,744 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $75.65, for a total value of $2,552,733.60. Following the transaction, the insider directly owned 1,600 shares of the company’s stock, valued at $121,040. This represents a 95.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George Herrera sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $37,580.00. Following the sale, the director owned 1,353 shares of the company’s stock, valued at $101,691.48. This trade represents a 26.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 95,135 shares of company stock worth $7,022,699. Insiders own 4.01% of the company’s stock.

Travel + Leisure Price Performance

Shares of Travel + Leisure stock opened at $74.70 on Friday. The business has a fifty day simple moving average of $75.10 and a two-hundred day simple moving average of $72.00. Travel + Leisure Co. has a 1 year low of $57.86 and a 1 year high of $81.00. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 0.51 and a beta of 1.17.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 EPS for the quarter, meeting the consensus estimate of $1.88. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 earnings per share. As a group, equities analysts anticipate that Travel + Leisure Co. will post 7.68 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.40 dividend on an annualized basis and a yield of 3.2%. Travel + Leisure’s dividend payout ratio is 65.57%.

Travel + Leisure Profile

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.