Comerica Bank Sells 1,731 Shares of Travel + Leisure Co. (NYSE:TNL)

Comerica Bank reduced its stake in Travel + Leisure Co. (NYSE:TNL) by 6.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 26,270 shares of the company’s stock after selling 1,731 shares during the quarter. Comerica Bank’s holdings in Travel + Leisure were worth $1,325,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in shares of Travel + Leisure in the 4th quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB lifted its position in Travel + Leisure by 314.4% in the 4th 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 in the last quarter. Natixis bought a new position in Travel + Leisure in the 4th quarter valued at approximately $37,000. UMB Bank n.a. lifted its position in Travel + Leisure by 36.9% in the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock valued at $38,000 after acquiring an additional 204 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Travel + Leisure by 30.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock valued at $39,000 after acquiring an additional 181 shares in the last quarter. 87.54% of the stock is owned by institutional investors.

Insider Transactions at Travel + Leisure

In related news, insider Michael Dean Brown acquired 2,000 shares of Travel + Leisure stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the purchase, the insider now directly owns 408,706 shares of the company’s stock, valued at approximately $19,070,221.96. This trade represents a 0.49% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director George Herrera sold 6,336 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total value of $296,524.80. Following the completion of the sale, the director now owns 2,759 shares of the company’s stock, valued at $129,121.20. The trade was a 69.66% decrease in their position. The disclosure for this sale can be found here. 3.75% of the stock is currently owned by company insiders.

Travel + Leisure Price Performance

NYSE:TNL opened at $47.72 on Monday. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 8.17, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. Travel + Leisure Co. has a one year low of $37.77 and a one year high of $58.95. The business has a fifty day moving average price of $45.49 and a 200-day moving average price of $50.53.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.10 by $0.01. The firm had revenue of $934.00 million during the quarter, compared to analyst estimates of $933.08 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. Travel + Leisure’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 4.69%. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, March 17th. Travel + Leisure’s dividend payout ratio is 37.40%.

Analysts Set New Price Targets

TNL has been the topic of several analyst reports. Bank of America raised Travel + Leisure from an “underperform” rating to a “buy” rating and upped their price objective for the company from $40.00 to $60.00 in a research report on Monday, January 27th. Barclays lowered their price objective on Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating on the stock in a research report on Thursday, April 24th. Truist Financial increased their price target on Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a report on Friday, March 7th. The Goldman Sachs Group lowered their price target on Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Tigress Financial increased their price target on Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.20.

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.