Travel + Leisure Co. Declares Quarterly Dividend of $0.56 (NYSE:TNL)

Travel + Leisure Co. (NYSE:TNL) declared a quarterly dividend on Thursday, May 22nd, Wall Street Journal reports. Shareholders of record on Friday, June 13th will be given a dividend of 0.56 per share on Monday, June 30th. This represents a $2.24 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, June 13th.

Travel + Leisure has raised its dividend by an average of 26.0% annually over the last three years and has increased its dividend every year for the last 5 years. Travel + Leisure has a dividend payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Travel + Leisure to earn $7.93 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 28.2%.

Travel + Leisure Trading Down 0.6%

Shares of NYSE:TNL opened at $47.88 on Friday. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 0.67 and a beta of 1.41. Travel + Leisure has a 12 month low of $37.77 and a 12 month high of $58.95. The company has a 50-day moving average price of $45.45 and a 200 day moving average price of $50.61.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.01. The business had revenue of $934.00 million during the quarter, compared to analyst estimates of $933.08 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.97 EPS. As a group, equities analysts forecast that Travel + Leisure will post 6.46 EPS for the current year.

Insiders Place Their Bets

In related news, Director Denny Marie Post sold 5,500 shares of Travel + Leisure stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $50.20, for a total value of $276,100.00. Following the completion of the sale, the director now directly owns 4,477 shares in the company, valued at $224,745.40. The trade was a 55.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Dean Brown acquired 2,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $46.66 per share, with a total value of $93,320.00. Following the completion of the purchase, the insider now owns 408,706 shares of the company’s stock, valued at $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 3.75% of the company’s stock.

Institutional Investors Weigh In On Travel + Leisure

Large investors have recently modified their holdings of the business. Royal Bank of Canada boosted its stake in shares of Travel + Leisure by 42.0% during the first quarter. Royal Bank of Canada now owns 91,184 shares of the company’s stock valued at $4,222,000 after purchasing an additional 26,965 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Travel + Leisure during the first quarter worth $396,000. Millennium Management LLC boosted its position 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 acquiring an additional 233,345 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Travel + Leisure by 97.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 200,286 shares of the company’s stock valued at $9,271,000 after acquiring an additional 98,647 shares during the period. Finally, United Services Automobile Association purchased a new position in shares of Travel + Leisure in the 1st quarter valued at $206,000. Institutional investors own 87.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Bank of America upgraded shares of Travel + Leisure from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $60.00 in a research report on Monday, January 27th. Mizuho reaffirmed a “neutral” rating and set a $64.00 price target (up from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Morgan Stanley reduced their price objective on shares of Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group decreased their price objective on shares of Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, Barclays cut their target price on Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Travel + Leisure currently has an average rating of “Moderate Buy” and an average target price of $59.20.

Travel + Leisure Company 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.