Harvest Fund Management Co. Ltd Invests $316,000 in Travel + Leisure Co. (NYSE:TNL)

Harvest Fund Management Co. Ltd acquired a new position in shares of Travel + Leisure Co. (NYSE:TNL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,254 shares of the company’s stock, valued at approximately $316,000.

Several other large investors have also recently bought and sold shares of TNL. Atria Investments Inc lifted its holdings in Travel + Leisure by 14.4% during the 3rd quarter. Atria Investments Inc now owns 5,345 shares of the company’s stock worth $246,000 after buying an additional 672 shares in the last quarter. Empowered Funds LLC lifted its holdings in Travel + Leisure by 57.7% during the 3rd quarter. Empowered Funds LLC now owns 15,008 shares of the company’s stock worth $692,000 after buying an additional 5,494 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Travel + Leisure by 21.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company’s stock worth $36,540,000 after buying an additional 138,153 shares in the last quarter. Cerity Partners LLC acquired a new position in Travel + Leisure during the 3rd quarter worth $892,000. Finally, Algert Global LLC lifted its holdings in Travel + Leisure by 168.9% during the 3rd quarter. Algert Global LLC now owns 319,279 shares of the company’s stock worth $14,712,000 after buying an additional 200,549 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

Insiders Place Their Bets

In other news, Director George Herrera sold 6,336 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the completion of the transaction, the director now directly owns 2,759 shares in the company, valued at $129,121.20. This represents a 69.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Dean Brown acquired 2,000 shares of Travel + Leisure stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price 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 in the company, valued at approximately $19,070,221.96. The trade was a 0.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on Travel + Leisure from $49.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley assumed coverage on shares of Travel + Leisure in a research report on Monday, January 6th. They set an “overweight” rating and a $67.00 target price for the company. Bank of America upgraded shares of Travel + Leisure from an “underperform” rating to a “buy” rating and upped their target price for the company from $40.00 to $60.00 in a research report on Monday, January 27th. Stifel Nicolaus upped their target price on shares of Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Mizuho reiterated a “neutral” rating and set a $64.00 target price (up previously from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.70.

Travel + Leisure Stock Down 1.0 %

TNL opened at $47.12 on Friday. The company has a fifty day simple moving average of $53.37 and a 200 day simple moving average of $50.70. The stock has a market cap of $3.14 billion, a P/E ratio of 8.07, a P/E/G ratio of 0.67 and a beta of 1.61. Travel + Leisure Co. has a 12 month low of $39.91 and a 12 month high of $58.95.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. The firm had revenue of $971.00 million during the quarter, compared to analysts’ expectations of $958.87 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.98 EPS. On average, equities research analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Monday, March 17th. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s dividend payout ratio is 38.36%.

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.