Bank of New York Mellon Corp reduced its position in Travel + Leisure Co. (NYSE:TNL – Free Report) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 860,466 shares of the company’s stock after selling 27,738 shares during the quarter. Bank of New York Mellon Corp owned about 1.33% of Travel + Leisure worth $44,409,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in Travel + Leisure by 4.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 208,929 shares of the company’s stock worth $9,671,000 after purchasing an additional 8,142 shares during the last quarter. Cerity Partners LLC raised its position in shares of Travel + Leisure by 10.1% in the first quarter. Cerity Partners LLC now owns 21,529 shares of the company’s stock valued at $997,000 after buying an additional 1,980 shares during the last quarter. Xponance Inc. lifted its stake in shares of Travel + Leisure by 6.8% in the first quarter. Xponance Inc. now owns 8,247 shares of the company’s stock worth $382,000 after buying an additional 527 shares in the last quarter. New York State Common Retirement Fund boosted its position in Travel + Leisure by 13.4% during the first quarter. New York State Common Retirement Fund now owns 38,099 shares of the company’s stock worth $1,764,000 after acquiring an additional 4,500 shares during the last quarter. Finally, CWM LLC grew its stake in Travel + Leisure by 50.4% during the 1st quarter. CWM LLC now owns 21,616 shares of the company’s stock valued at $1,001,000 after acquiring an additional 7,240 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.
Insider Activity at Travel + Leisure
In related news, insider Kimberly Marshall sold 16,500 shares of the stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $65.00, for a total transaction of $1,072,500.00. Following the completion of the transaction, the insider owned 40,236 shares of the company’s stock, valued at approximately $2,615,340. This trade represents a 29.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Geoffrey Richards sold 26,838 shares of Travel + Leisure stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $66.06, for a total transaction of $1,772,918.28. Following the completion of the sale, the insider owned 112,777 shares of the company’s stock, valued at $7,450,048.62. This trade represents a 19.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 126,144 shares of company stock valued at $8,347,142. 3.75% of the stock is owned by insiders.
Travel + Leisure Stock Down 0.8%
NYSE:TNL opened at $63.93 on Wednesday. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $70.43. The stock’s fifty day moving average is $61.95 and its two-hundred day moving average is $56.87. The company has a market capitalization of $4.11 billion, a P/E ratio of 10.51, a P/E/G ratio of 0.55 and a beta of 1.51.
Travel + Leisure (NYSE:TNL – Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.08. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Travel + Leisure had a negative return on equity of 49.06% and a net margin of 10.36%.The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $1.57 EPS. Sell-side analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.
Travel + Leisure Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, December 12th. Travel + Leisure’s payout ratio is 36.84%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on TNL shares. JMP Securities boosted their target price on Travel + Leisure from $70.00 to $80.00 and gave the stock a “market outperform” rating in a report on Thursday, October 23rd. The Goldman Sachs Group boosted their price objective on Travel + Leisure from $61.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Travel + Leisure in a research note on Wednesday, October 8th. Wall Street Zen lowered Travel + Leisure from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Mizuho set a $86.00 price objective on shares of Travel + Leisure in a report on Wednesday, October 22nd. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $69.90.
View Our Latest Report on Travel + Leisure
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.
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