Bank of New York Mellon Corp Acquires Shares of 720,755 Travel + Leisure Co. $TNL

Bank of New York Mellon Corp acquired a new stake in shares of Travel + Leisure Co. (NYSE:TNL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 720,755 shares of the company’s stock, valued at approximately $55,087,000.

Several other large investors have also recently made changes to their positions in TNL. Danske Bank A S bought a new position in Travel + Leisure during the third quarter valued at approximately $30,000. Elevation Wealth Partners LLC increased its stake in Travel + Leisure by 413.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 462 shares of the company’s stock worth $35,000 after acquiring an additional 372 shares during the last quarter. Assetmark Inc. increased its stake in Travel + Leisure by 43.8% in the 1st quarter. Assetmark Inc. now owns 627 shares of the company’s stock worth $43,000 after acquiring an additional 191 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Travel + Leisure by 293.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock worth $44,000 after acquiring an additional 715 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Travel + Leisure by 27.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,241 shares of the company’s stock valued at $88,000 after acquiring an additional 265 shares during the last quarter. 87.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TNL has been the topic of several research reports. Citigroup restated a “market outperform” rating on shares of Travel + Leisure in a research report on Thursday, July 23rd. Susquehanna initiated coverage on shares of Travel + Leisure in a research note on Tuesday, August 18th. They issued a “positive” rating and a $95.00 price objective for the company. Mizuho boosted their target price on shares of Travel + Leisure from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Morgan Stanley boosted their target price on shares of Travel + Leisure from $83.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, August 18th. Finally, Wells Fargo & Company upped their target price on shares of Travel + Leisure from $87.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.82.

Travel + Leisure Price Performance

Shares of NYSE:TNL opened at $73.58 on Thursday. Travel + Leisure Co. has a 1 year low of $58.07 and a 1 year high of $81.00. The business has a 50 day simple moving average of $75.05 and a two-hundred day simple moving average of $72.17. The firm has a market capitalization of $4.50 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 0.50 and a beta of 1.17.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, meeting the consensus estimate of $1.88. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. Equities research analysts expect that Travel + Leisure Co. will post 7.7 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.3%. Travel + Leisure’s dividend payout ratio (DPR) is presently 65.57%.

Insiders Place Their Bets

In other news, insider Kimberly Marshall sold 32,691 shares of Travel + Leisure stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $75.00, for a total transaction of $2,451,825.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George Herrera sold 500 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $37,580.00. Following the completion of the transaction, the director owned 1,353 shares in the company, valued at approximately $101,691.48. This trade represents a 26.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 95,135 shares of company stock valued at $7,022,699. 4.01% of the stock is currently owned by corporate insiders.

About Travel + Leisure

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.