Burney Co. Decreases Stock Holdings in Travel + Leisure Co. (NYSE:TNL)

Burney Co. reduced its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 10.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,060 shares of the company’s stock after selling 893 shares during the quarter. Burney Co.’s holdings in Travel + Leisure were worth $363,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Los Angeles Capital Management LLC lifted its stake in shares of Travel + Leisure by 1,025.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 196,627 shares of the company’s stock worth $9,627,000 after purchasing an additional 179,149 shares during the last quarter. Waterloo Capital L.P. purchased a new stake in Travel + Leisure in the fourth quarter valued at about $2,081,000. Retirement Systems of Alabama raised its stake in Travel + Leisure by 87.9% in the fourth quarter. Retirement Systems of Alabama now owns 281,799 shares of the company’s stock valued at $11,016,000 after buying an additional 131,796 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Travel + Leisure in the first quarter valued at about $4,739,000. Finally, Harbor Capital Advisors Inc. raised its stake in Travel + Leisure by 125.9% in the second quarter. Harbor Capital Advisors Inc. now owns 53,211 shares of the company’s stock valued at $2,393,000 after buying an additional 29,656 shares during the last quarter. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Travel + Leisure Trading Up 0.5 %

Shares of TNL stock traded up $0.24 during mid-day trading on Friday, reaching $44.08. The stock had a trading volume of 19,346 shares, compared to its average volume of 562,804. The business’s fifty day moving average is $44.36 and its 200-day moving average is $44.73. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 0.60 and a beta of 1.63. Travel + Leisure Co. has a 1-year low of $32.10 and a 1-year high of $49.91.

Travel + Leisure (NYSE:TNL) last posted its earnings results on Wednesday, July 24th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.39 by $0.13. The firm had revenue of $985.00 million for the quarter, compared to analyst estimates of $987.20 million. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 11.35%. Travel + Leisure’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $1.33 earnings per share. On average, analysts forecast that Travel + Leisure Co. will post 5.61 earnings per share for the current year.

Travel + Leisure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.54%. The ex-dividend date is Friday, September 13th. Travel + Leisure’s dividend payout ratio (DPR) is 36.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TNL shares. Deutsche Bank Aktiengesellschaft decreased their price target on Travel + Leisure from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on Travel + Leisure from $53.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Tigress Financial increased their price target on Travel + Leisure from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.25.

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.