Travel + Leisure Co. $TNL Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in Travel + Leisure Co. (NYSE:TNL) by 3.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 860,466 shares of the company’s stock after selling 27,738 shares during the quarter. Bank of New York Mellon Corp’s holdings in Travel + Leisure were worth $44,409,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings 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 buying an additional 8,142 shares in the last quarter. Cerity Partners LLC grew its stake 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 worth $997,000 after acquiring an additional 1,980 shares in the last quarter. Xponance Inc. increased its position in shares of Travel + Leisure by 6.8% during the first quarter. Xponance Inc. now owns 8,247 shares of the company’s stock worth $382,000 after acquiring an additional 527 shares during the period. New York State Common Retirement Fund raised its stake in shares of Travel + Leisure by 13.4% in the first quarter. New York State Common Retirement Fund now owns 38,099 shares of the company’s stock valued at $1,764,000 after acquiring an additional 4,500 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Travel + Leisure by 50.4% in the first 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. 87.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on TNL. Barclays boosted their target price on Travel + Leisure from $54.00 to $63.00 and gave the stock an “underweight” rating in a research note on Thursday, October 23rd. The Goldman Sachs Group lifted their price objective on Travel + Leisure from $61.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Morgan Stanley set a $68.00 target price on shares of Travel + Leisure in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Travel + Leisure in a report on Wednesday, October 8th. Finally, Citigroup reiterated an “outperform” rating on shares of Travel + Leisure in a report on Thursday, October 23rd. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.90.

Travel + Leisure Stock Performance

TNL opened at $63.93 on Wednesday. The business’s 50-day simple moving average is $61.95 and its 200-day simple moving average is $56.87. The company has a market cap of $4.11 billion, a P/E ratio of 10.51, a PEG ratio of 0.55 and a beta of 1.51. Travel + Leisure Co. has a one year low of $37.77 and a one year high of $70.43.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.72 by $0.08. Travel + Leisure had a net margin of 10.36% and a negative return on equity of 49.06%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm posted $1.57 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. As a group, analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 12th will be given 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 dividend payout ratio (DPR) is 36.84%.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, insider Amandine Robin-Caplan sold 1,538 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $65.08, for a total transaction of $100,093.04. Following the transaction, the insider owned 3,904 shares of the company’s stock, valued at approximately $254,072.32. This trade represents a 28.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kimberly Marshall sold 16,500 shares of Travel + Leisure stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $65.00, for a total value of $1,072,500.00. Following the sale, the insider owned 40,236 shares in the company, valued at $2,615,340. This trade represents a 29.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 126,144 shares of company stock valued at $8,347,142 over the last quarter. 3.75% of the stock is owned by insiders.

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.