Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Travel + Leisure Co. (NYSE:TNL)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 8.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,886 shares of the company’s stock after buying an additional 1,385 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Travel + Leisure were worth $902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Algert Global LLC lifted its stake in Travel + Leisure by 168.9% during the third quarter. Algert Global LLC now owns 319,279 shares of the company’s stock worth $14,712,000 after purchasing an additional 200,549 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Travel + Leisure by 21.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company’s stock worth $36,540,000 after purchasing an additional 138,153 shares during the last quarter. Barclays PLC lifted its stake in Travel + Leisure by 80.4% during the third quarter. Barclays PLC now owns 225,326 shares of the company’s stock worth $10,383,000 after purchasing an additional 100,440 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Travel + Leisure during the fourth quarter worth approximately $4,639,000. Finally, Raymond James Financial Inc. purchased a new stake in Travel + Leisure during the fourth quarter worth approximately $3,850,000. 87.54% of the stock is owned by institutional investors and hedge funds.

Travel + Leisure Trading Down 0.9 %

NYSE:TNL opened at $47.55 on Friday. The firm has a market cap of $3.17 billion, a P/E ratio of 8.14, a PEG ratio of 0.67 and a beta of 1.61. The stock’s 50 day simple moving average is $53.43 and its 200-day simple moving average is $50.68. Travel + Leisure Co. has a 12-month low of $39.91 and a 12-month high of $58.95.

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

Travel + Leisure Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.56 dividend. The ex-dividend date is Monday, March 17th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.71%. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s payout ratio is presently 38.36%.

Wall Street Analysts Forecast Growth

TNL has been the subject of several recent analyst reports. Mizuho restated a “neutral” rating and set a $64.00 target price (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Tigress Financial boosted their target price on Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Barclays boosted their target price on Travel + Leisure from $48.00 to $54.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Truist Financial lifted their price target on Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Finally, Bank of America raised Travel + Leisure from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $60.00 in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $63.70.

Insider Activity

In related news, Director George Herrera sold 6,336 shares of the company’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 of the company’s stock, valued at $129,121.20. This represents a 69.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Dean Brown acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the acquisition, the insider now directly owns 408,706 shares of the company’s stock, valued at $19,070,221.96. This trade represents a 0.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.02% of the company’s stock.

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.