Jacobs Levy Equity Management Inc. Decreases Stake in Travel + Leisure Co. (NYSE:TNL)

Jacobs Levy Equity Management Inc. reduced its holdings in Travel + Leisure Co. (NYSE:TNL) by 37.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,976 shares of the company’s stock after selling 113,358 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.27% of Travel + Leisure worth $9,252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TNL. Allworth Financial LP lifted its stake in shares of Travel + Leisure by 147.5% in the fourth quarter. Allworth Financial LP now owns 698 shares of the company’s stock worth $27,000 after buying an additional 416 shares in the last quarter. SRS Capital Advisors Inc. increased its position in Travel + Leisure by 334.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 764 shares of the company’s stock worth $30,000 after purchasing an additional 588 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Travel + Leisure during the fourth quarter worth about $36,000. Arlington Trust Co LLC acquired a new stake in Travel + Leisure during the fourth quarter worth about $53,000. Finally, Quent Capital LLC increased its position in Travel + Leisure by 23.6% during the fourth quarter. Quent Capital LLC now owns 1,454 shares of the company’s stock worth $57,000 after purchasing an additional 278 shares during the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.

Travel + Leisure Trading Up 1.3 %

TNL traded up $0.59 during trading hours on Tuesday, hitting $46.83. 453,999 shares of the company’s stock were exchanged, compared to its average volume of 568,822. Travel + Leisure Co. has a 12-month low of $32.10 and a 12-month high of $49.91. The firm has a 50 day moving average of $44.90 and a 200 day moving average of $44.34. The firm has a market cap of $3.27 billion, a P/E ratio of 8.63, a price-to-earnings-growth ratio of 2.53 and a beta of 1.63.

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

Travel + Leisure Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, June 14th. Travel + Leisure’s dividend payout ratio is presently 36.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Travel + Leisure from $53.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Travel + Leisure from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Tigress Financial raised their price objective on shares of Travel + Leisure from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Barclays raised their price objective on shares of Travel + Leisure from $44.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.25.

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.