Bank of Montreal Can Decreases Stock Position in Travel + Leisure Co. (NYSE:TNL)

Bank of Montreal Can lowered its position in shares of Travel + Leisure Co. (NYSE:TNL) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,326 shares of the company’s stock after selling 1,437 shares during the period. Bank of Montreal Can owned approximately 0.09% of Travel + Leisure worth $3,094,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Travel + Leisure during the 4th quarter worth $45,804,000. Charles Schwab Investment Management Inc. grew its stake in shares of Travel + Leisure by 15.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company’s stock valued at $46,169,000 after acquiring an additional 122,173 shares in the last quarter. Trexquant Investment LP increased its position in shares of Travel + Leisure by 177.5% during the fourth quarter. Trexquant Investment LP now owns 167,888 shares of the company’s stock worth $8,470,000 after acquiring an additional 107,389 shares during the last quarter. Barclays PLC lifted its stake in shares of Travel + Leisure by 80.4% in the third quarter. Barclays PLC now owns 225,326 shares of the company’s stock worth $10,383,000 after acquiring an additional 100,440 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Travel + Leisure in the fourth quarter valued at about $4,639,000. 87.54% of the stock is owned by institutional investors and hedge funds.

Travel + Leisure Stock Up 0.9 %

Shares of TNL opened at $41.80 on Wednesday. The firm has a market capitalization of $2.79 billion, a PE ratio of 7.16, a P/E/G ratio of 0.67 and a beta of 1.40. The firm has a 50-day moving average price of $49.66 and a 200 day moving average price of $50.73. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $58.95.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.72 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 net margin of 10.63% and a negative return on equity of 45.75%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business earned $1.98 earnings per share. On average, equities analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.24 annualized dividend and a yield of 5.36%. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s dividend payout ratio (DPR) is currently 38.36%.

Insider Buying and Selling

In related news, insider Michael Dean Brown bought 2,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $46.66 per share, with a total value of $93,320.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director George Herrera sold 6,336 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value of $296,524.80. Following the sale, the director now directly owns 2,759 shares of the company’s stock, valued at approximately $129,121.20. This represents 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.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays increased their target price on Travel + Leisure from $48.00 to $54.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Bank of America raised shares of Travel + Leisure from an “underperform” rating to a “buy” rating and lifted their price target for the company from $40.00 to $60.00 in a report on Monday, January 27th. Mizuho reiterated a “neutral” rating and set a $64.00 price objective (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Truist Financial lifted their target price on Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Finally, The Goldman Sachs Group cut 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Travel + Leisure presently has an average rating of “Moderate Buy” and a consensus target price of $62.20.

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.