CIBC Private Wealth Group LLC Sells 1,627 Shares of Travel + Leisure Co. (NYSE:TNL)

CIBC Private Wealth Group LLC cut its stake in Travel + Leisure Co. (NYSE:TNL) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,392 shares of the company’s stock after selling 1,627 shares during the period. CIBC Private Wealth Group LLC owned 0.09% of Travel + Leisure worth $3,080,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new position in Travel + Leisure in the 4th quarter worth approximately $25,000. Versant Capital Management Inc raised its position in shares of Travel + Leisure by 49.2% during the fourth quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock worth $32,000 after acquiring an additional 210 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Travel + Leisure by 314.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company’s stock valued at $33,000 after acquiring an additional 503 shares during the period. UMB Bank n.a. boosted its holdings in Travel + Leisure by 36.9% in the fourth quarter. UMB Bank n.a. now owns 757 shares of the company’s stock valued at $38,000 after acquiring an additional 204 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Travel + Leisure by 30.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock worth $39,000 after purchasing an additional 181 shares during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Michael Dean Brown acquired 2,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $46.66 per share, with a total value of $93,320.00. Following the acquisition, the insider now owns 408,706 shares in the company, valued at $19,070,221.96. This represents a 0.49 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Herrera sold 6,336 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total transaction of $296,524.80. Following the transaction, the director now owns 2,759 shares in the company, valued at approximately $129,121.20. The trade was a 69.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Bank of America raised shares of Travel + Leisure from an “underperform” rating to a “buy” rating and raised their target price for the company from $40.00 to $60.00 in a research note on Monday, January 27th. Truist Financial lifted their target price on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Mizuho restated a “neutral” rating and issued a $64.00 price target (up from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Barclays raised their target price on Travel + Leisure from $48.00 to $54.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Finally, Morgan Stanley started coverage on shares of Travel + Leisure in a research report on Monday, January 6th. They issued an “overweight” rating and a $67.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Travel + Leisure presently has an average rating of “Moderate Buy” and a consensus price target of $63.70.

Travel + Leisure Stock Up 3.6 %

Travel + Leisure stock opened at $48.07 on Thursday. The stock has a market capitalization of $3.21 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 0.67 and a beta of 1.61. Travel + Leisure Co. has a twelve month low of $39.91 and a twelve month high of $58.95. The company has a 50 day moving average of $52.62 and a 200-day moving average of $51.02.

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

Travel + Leisure Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.66%. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, March 17th. Travel + Leisure’s dividend payout ratio is currently 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.