Federated Hermes Inc. lowered its stake in shares of Travel + Leisure Co. (NYSE:TNL – Get Rating) by 9.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 165,010 shares of the company’s stock after selling 16,772 shares during the quarter. Federated Hermes Inc.’s holdings in Travel + Leisure were worth $6,406,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TNL. Meeder Asset Management Inc. bought a new position in Travel + Leisure during the first quarter worth about $29,000. Penserra Capital Management LLC bought a new position in Travel + Leisure during the first quarter worth about $31,000. Lazard Asset Management LLC bought a new position in shares of Travel + Leisure during the 1st quarter valued at about $34,000. Quadrant Capital Group LLC lifted its holdings in shares of Travel + Leisure by 47.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 893 shares of the company’s stock valued at $35,000 after purchasing an additional 286 shares in the last quarter. Finally, Fieldpoint Private Securities LLC lifted its holdings in shares of Travel + Leisure by 43.2% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 995 shares of the company’s stock valued at $39,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.
Travel + Leisure Stock Performance
NYSE TNL opened at $35.45 on Tuesday. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 8.15 and a beta of 1.67. The stock’s 50 day moving average price is $37.84 and its two-hundred day moving average price is $40.65. Travel + Leisure Co. has a 52 week low of $33.57 and a 52 week high of $63.19.
Travel + Leisure Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Wednesday, December 14th. Travel + Leisure’s dividend payout ratio (DPR) is 36.78%.
Analysts Set New Price Targets
Several research firms have recently weighed in on TNL. Credit Suisse Group cut Travel + Leisure from an “outperform” rating to an “underperform” rating in a report on Friday, October 28th. Truist Financial cut their price objective on Travel + Leisure from $72.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, November 15th. Barclays cut their price objective on Travel + Leisure to $43.00 in a report on Tuesday, November 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Travel + Leisure from $69.00 to $62.00 in a report on Friday, October 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.00.
Insiders Place Their Bets
In other Travel + Leisure news, Director George Herrera sold 882 shares of the business’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $38.58, for a total transaction of $34,027.56. Following the transaction, the director now owns 40,320 shares of the company’s stock, valued at approximately $1,555,545.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.07% of the company’s stock.
Travel + Leisure Company Profile
Travel + Leisure Co, together with its subsidiaries, provides hospitality services and 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; provides consumer financing in connection with the sale of VOIs; and provides property management services at resorts.
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