Copeland Capital Management LLC Cuts Stake in Travel + Leisure Co. $TNL

Copeland Capital Management LLC cut its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 8.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,016,913 shares of the company’s stock after selling 99,393 shares during the quarter. Travel + Leisure accounts for 1.6% of Copeland Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Copeland Capital Management LLC’s holdings in Travel + Leisure were worth $70,360,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. increased its position in shares of Travel + Leisure by 4.2% during the fourth quarter. Invesco Ltd. now owns 3,632,657 shares of the company’s stock worth $256,211,000 after acquiring an additional 146,484 shares during the period. AQR Capital Management LLC grew its stake in Travel + Leisure by 46.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock worth $138,449,000 after purchasing an additional 855,151 shares in the last quarter. LSV Asset Management raised its position in Travel + Leisure by 1.1% in the 4th quarter. LSV Asset Management now owns 1,612,657 shares of the company’s stock valued at $113,741,000 after purchasing an additional 17,377 shares in the last quarter. Geode Capital Management LLC raised its position in Travel + Leisure by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,208,918 shares of the company’s stock valued at $85,281,000 after purchasing an additional 10,137 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Travel + Leisure by 9.3% in the 4th quarter. Morgan Stanley now owns 906,101 shares of the company’s stock valued at $63,907,000 after buying an additional 77,135 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, CFO Erik D. Hoag bought 1,000 shares of the stock in a transaction dated Thursday, April 23rd. The shares were acquired at an average cost of $65.67 per share, for a total transaction of $65,670.00. Following the completion of the transaction, the chief financial officer owned 1,000 shares in the company, valued at approximately $65,670. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George Herrera sold 500 shares of Travel + Leisure stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $37,580.00. Following the completion of the transaction, the director directly owned 1,353 shares in the company, valued at $101,691.48. The trade was a 26.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 31,000 shares of company stock valued at $2,161,915 over the last ninety days. 4.01% of the stock is owned by insiders.

Analysts Set New Price Targets

TNL has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Wells Fargo & Company dropped their price objective on shares of Travel + Leisure from $88.00 to $87.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Barclays reduced their price objective on shares of Travel + Leisure from $78.00 to $74.00 and set an “equal weight” rating on the stock in a report on Thursday, April 23rd. Mizuho decreased their price objective on shares of Travel + Leisure from $107.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Finally, Morgan Stanley increased their target price on Travel + Leisure from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Friday. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $85.90.

Travel + Leisure Trading Down 2.7%

Shares of NYSE:TNL opened at $73.43 on Friday. The firm has a 50 day simple moving average of $71.47 and a 200-day simple moving average of $71.61. Travel + Leisure Co. has a twelve month low of $56.29 and a twelve month high of $81.00. The company has a market capitalization of $4.58 billion, a PE ratio of 20.63, a P/E/G ratio of 0.58 and a beta of 1.16.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.14. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 5.85%.The company had revenue of $961.00 million for the quarter, compared to analyst estimates of $954.80 million. During the same quarter last year, the company posted $1.11 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts predict that Travel + Leisure Co. will post 7.47 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, June 12th. Travel + Leisure’s dividend payout ratio is presently 67.42%.

About Travel + Leisure

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.