Bank of America Corp DE Sells 66,095 Shares of Travel + Leisure Co. (NYSE:TNL)

Bank of America Corp DE cut its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 41.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,121 shares of the company's stock after selling 66,095 shares during the quarter. Bank of America Corp DE owned 0.14% of Travel + Leisure worth $4,748,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in shares of Travel + Leisure during the 4th quarter valued at approximately $25,000. Natixis bought a new stake in Travel + Leisure during the 4th quarter worth approximately $37,000. Smartleaf Asset Management LLC grew its holdings in Travel + Leisure by 30.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company's stock worth $39,000 after acquiring an additional 181 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Travel + Leisure by 333.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company's stock worth $66,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Capital Analysts LLC grew its holdings in Travel + Leisure by 16.8% during the 4th quarter. Capital Analysts LLC now owns 1,576 shares of the company's stock worth $80,000 after acquiring an additional 227 shares during the last quarter. 87.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Truist Financial boosted 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. Barclays reduced their target price on shares of Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating on the stock in a report on Thursday, April 24th. Morgan Stanley reduced their target price on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Tigress Financial boosted their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group dropped their price target on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.20.

Travel + Leisure Price Performance

Shares of Travel + Leisure stock traded up $0.11 during trading on Monday, reaching $48.68. 744,138 shares of the company traded hands, compared to its average volume of 642,192. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $58.95. The company has a 50 day moving average price of $45.54 and a 200-day moving average price of $50.34. The firm has a market capitalization of $3.23 billion, a PE ratio of 8.34, a P/E/G ratio of 0.67 and a beta of 1.41.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.01. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The company had revenue of $934.00 million for the quarter, compared to the consensus estimate of $933.08 million. During the same quarter in the previous year, the company earned $0.97 EPS. Travel + Leisure's quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.56 per share. The ex-dividend date is Friday, June 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.60%. Travel + Leisure's payout ratio is presently 37.40%.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, insider Michael Dean Brown purchased 2,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the purchase, the insider now owns 408,706 shares of the company's stock, valued at $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 can be accessed through this hyperlink. Also, Director Denny Marie Post sold 5,500 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $50.20, for a total transaction of $276,100.00. Following the sale, the director now owns 4,477 shares of the company's stock, valued at $224,745.40. This trade represents a 55.13% decrease in their position. The disclosure for this sale can be found here. 3.75% of the stock is owned by corporate insiders.

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.