Bank of New York Mellon Corp Has $41.12 Million Holdings in Travel + Leisure Co. (NYSE:TNL)

Bank of New York Mellon Corp cut its holdings in Travel + Leisure Co. (NYSE:TNL) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 888,204 shares of the company’s stock after selling 17,463 shares during the quarter. Bank of New York Mellon Corp owned 1.34% of Travel + Leisure worth $41,115,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp acquired a new position in shares of Travel + Leisure during the fourth quarter worth approximately $25,000. Natixis acquired a new position in shares of Travel + Leisure during the fourth quarter worth approximately $37,000. UMB Bank n.a. raised its position in shares of Travel + Leisure by 54.0% during the first quarter. UMB Bank n.a. now owns 1,166 shares of the company’s stock worth $54,000 after purchasing an additional 409 shares during the period. Rossby Financial LCC acquired a new position in shares of Travel + Leisure during the first quarter worth approximately $55,000. Finally, Canada Pension Plan Investment Board raised its position in shares of Travel + Leisure by 333.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company’s stock worth $66,000 after purchasing an additional 1,000 shares during the period. 87.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Travel + Leisure

In related news, insider Jeffrey Myers sold 13,922 shares of Travel + Leisure stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $58.00, for a total value of $807,476.00. Following the completion of the sale, the insider owned 165,890 shares of the company’s stock, valued at approximately $9,621,620. This trade represents a 7.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Denny Marie Post sold 5,500 shares of Travel + Leisure stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $50.20, for a total value of $276,100.00. Following the completion of the sale, the director directly owned 4,477 shares of the company’s stock, valued at approximately $224,745.40. This trade represents a 55.13% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,285 shares of company stock valued at $1,474,767. Insiders own 3.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TNL. Morgan Stanley lowered their target price on Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group decreased their price target on Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Barclays decreased their price target on Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Travel + Leisure has an average rating of “Moderate Buy” and a consensus price target of $59.20.

Travel + Leisure Price Performance

Shares of Travel + Leisure stock opened at $57.56 on Tuesday. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $58.95. The firm has a market cap of $3.82 billion, a PE ratio of 9.61, a P/E/G ratio of 0.55 and a beta of 1.38. The stock has a fifty day moving average price of $50.56 and a 200-day moving average price of $49.98.

Travel + Leisure (NYSE:TNL) last announced its earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.01. Travel + Leisure had a negative return on equity of 46.83% and a net margin of 10.77%. The firm had revenue of $934.00 million during the quarter, compared to analyst estimates of $933.08 million. During the same period last year, the firm posted $0.97 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. As a group, equities analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend was Friday, June 13th. Travel + Leisure’s dividend payout ratio is presently 37.40%.

Travel + Leisure 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.