Ranmore Fund Management Ltd Acquires Shares of 35,363 Travel + Leisure Co. (NYSE:TNL)

Ranmore Fund Management Ltd bought a new position in shares of Travel + Leisure Co. (NYSE:TNL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 35,363 shares of the company’s stock, valued at approximately $1,784,000. Travel + Leisure comprises approximately 1.7% of Ranmore Fund Management Ltd’s investment portfolio, making the stock its 14th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Travel + Leisure by 80.4% during the 3rd quarter. Barclays PLC now owns 225,326 shares of the company’s stock valued at $10,383,000 after buying an additional 100,440 shares during the last quarter. FMR LLC grew its holdings in Travel + Leisure by 28.5% during the third quarter. FMR LLC now owns 261,599 shares of the company’s stock worth $12,054,000 after acquiring an additional 58,008 shares during the period. Oak Thistle LLC acquired a new stake in Travel + Leisure during the fourth quarter worth about $1,288,000. Amundi lifted its holdings in Travel + Leisure by 22.8% in the fourth quarter. Amundi now owns 5,940 shares of the company’s stock valued at $302,000 after acquiring an additional 1,103 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in Travel + Leisure in the 3rd quarter worth approximately $224,000. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Travel + Leisure

In related news, Director George Herrera sold 6,336 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total value of $296,524.80. Following the completion of the transaction, the director now directly owns 2,759 shares in the company, valued at approximately $129,121.20. This represents a 69.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Dean Brown bought 2,000 shares of Travel + Leisure stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the transaction, the insider now directly owns 408,706 shares of the company’s stock, valued at approximately $19,070,221.96. This trade represents a 0.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 4.02% of the company’s stock.

Analysts Set New Price Targets

TNL has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Travel + Leisure from $56.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Bank of America upgraded Travel + Leisure from an “underperform” rating to a “buy” rating and increased their price target for the stock from $40.00 to $60.00 in a research report on Monday, January 27th. Tigress Financial lifted their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Mizuho reaffirmed a “neutral” rating and set a $64.00 price objective (up from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. Finally, Barclays lifted their target price on shares of Travel + Leisure from $48.00 to $54.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $63.70.

Travel + Leisure Price Performance

TNL opened at $40.96 on Monday. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 7.01, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. The company’s 50 day simple moving average is $52.17 and its two-hundred day simple moving average is $51.08. Travel + Leisure Co. has a 1-year low of $39.80 and a 1-year high of $58.95.

Travel + Leisure (NYSE:TNL) last issued its earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The business had revenue of $971.00 million during the quarter, compared to the consensus estimate of $958.87 million. During the same period last year, the company earned $1.98 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.56 dividend. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.24 annualized dividend and a dividend yield of 5.47%. Travel + Leisure’s dividend payout ratio is 38.36%.

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.