QRG Capital Management Inc. Has $1.24 Million Holdings in Travel + Leisure Co. $TNL

QRG Capital Management Inc. lifted its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,945 shares of the company’s stock after buying an additional 1,688 shares during the period. QRG Capital Management Inc.’s holdings in Travel + Leisure were worth $1,236,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Greenleaf Trust acquired a new stake in Travel + Leisure in the second quarter valued at $205,000. Janney Montgomery Scott LLC lifted its position in Travel + Leisure by 3.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 51,276 shares of the company’s stock valued at $2,646,000 after acquiring an additional 1,879 shares in the last quarter. Kendall Capital Management lifted its position in Travel + Leisure by 10.3% in the 2nd quarter. Kendall Capital Management now owns 24,555 shares of the company’s stock valued at $1,267,000 after acquiring an additional 2,300 shares in the last quarter. Oliver Luxxe Assets LLC lifted its position in shares of Travel + Leisure by 1.4% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 42,690 shares of the company’s stock worth $2,203,000 after buying an additional 576 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Travel + Leisure by 10.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock worth $117,000 after buying an additional 220 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Travel + Leisure in a report on Wednesday. Barclays boosted their price target on shares of Travel + Leisure from $39.00 to $54.00 and gave the company an “underweight” rating in a research report on Thursday, July 24th. JMP Securities lifted their price objective on shares of Travel + Leisure from $60.00 to $70.00 and gave the stock a “market outperform” rating in a report on Thursday, July 24th. Wall Street Zen raised shares of Travel + Leisure from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Finally, Mizuho raised shares of Travel + Leisure from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $63.00 to $72.00 in a research note on Thursday, July 24th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Travel + Leisure presently has an average rating of “Moderate Buy” and a consensus target price of $62.30.

Insider Buying and Selling

In related news, Director George Herrera sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $60.48, for a total value of $133,056.00. Following the sale, the director owned 559 shares in the company, valued at approximately $33,808.32. This trade represents a 79.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Thomas Michael Duncan sold 8,201 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.24, for a total transaction of $510,430.24. Following the completion of the sale, the chief accounting officer owned 20,000 shares in the company, valued at $1,244,800. This represents a 29.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 299,389 shares of company stock valued at $18,567,207 in the last ninety days. Corporate insiders own 3.75% of the company’s stock.

Travel + Leisure Stock Performance

Shares of TNL opened at $60.31 on Thursday. The stock has a market cap of $3.92 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 0.59 and a beta of 1.47. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $64.11. The firm’s 50-day simple moving average is $60.97 and its two-hundred day simple moving average is $53.42.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%.Travel + Leisure’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 EPS. Equities research analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th were issued a dividend of $0.56 per share. The ex-dividend date was Friday, September 12th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.7%. Travel + Leisure’s dividend payout ratio is presently 38.62%.

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.