Kendall Capital Management Makes New Investment in Travel + Leisure Co. $TNL

Kendall Capital Management acquired a new stake in Travel + Leisure Co. (NYSE:TNL) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 44,600 shares of the company’s stock, valued at approximately $3,409,000. Kendall Capital Management owned approximately 0.07% of Travel + Leisure at the end of the most recent quarter.

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

Insider Buying and Selling at Travel + Leisure

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

Analysts Set New Price Targets

TNL has been the topic of a number of recent research reports. Zacks Research lowered Travel + Leisure from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company upped their price target on Travel + Leisure from $87.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Morgan Stanley increased their price target on Travel + Leisure from $83.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, August 18th. Citigroup reaffirmed a “market outperform” rating on shares of Travel + Leisure in a report on Thursday, July 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Travel + Leisure in a research note on Tuesday, July 21st. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.82.

Travel + Leisure Stock Performance

NYSE TNL opened at $71.63 on Friday. The company has a market capitalization of $4.38 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 0.49 and a beta of 1.17. Travel + Leisure Co. has a 52-week low of $58.07 and a 52-week high of $81.00. The company has a 50-day simple moving average of $75.15 and a 200 day simple moving average of $72.11.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.88. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, analysts forecast that Travel + Leisure Co. will post 7.6 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 16th. Travel + Leisure’s dividend payout ratio is 65.57%.

Travel + Leisure Company 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.