Travel + Leisure Co. (NYSE:TNL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 888,204 shares of the company's stock after selling 17,463 shares during the period. Bank of New York Mellon Corp owned about 1.34% of Travel + Leisure worth $41,115,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in Travel + Leisure by 210.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,893 shares of the company's stock valued at $1,666,000 after acquiring an additional 24,329 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Travel + Leisure during the 1st quarter worth about $261,000. GAMMA Investing LLC lifted its holdings in Travel + Leisure by 26.6% during the 1st quarter. GAMMA Investing LLC now owns 2,044 shares of the company's stock valued at $95,000 after buying an additional 429 shares in the last quarter. Atlas Capital Advisors Inc. lifted its holdings in Travel + Leisure by 1,141.0% during the 4th quarter. Atlas Capital Advisors Inc. now owns 11,765 shares of the company's stock valued at $594,000 after buying an additional 10,817 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in Travel + Leisure during the 4th quarter valued at about $458,000. 87.54% of the stock is currently owned by institutional investors.

Travel + Leisure Stock Performance

TNL stock traded up $0.20 during midday trading on Wednesday, reaching $56.68. 524,541 shares of the company were exchanged, compared to its average volume of 649,701. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $58.95. The stock's 50-day simple moving average is $51.17 and its 200 day simple moving average is $50.12. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 9.46, a price-to-earnings-growth ratio of 0.54 and a beta of 1.38.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.01. The company had revenue of $934.00 million for the quarter, compared to analysts' expectations of $933.08 million. Travel + Leisure had a net margin of 10.77% and a negative return on equity of 46.83%. Travel + Leisure's revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 EPS. On average, research analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.56 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.24 annualized dividend and a dividend yield of 3.95%. Travel + Leisure's dividend payout ratio is presently 37.40%.

Insider Activity

In other Travel + Leisure news, insider Jeffrey Myers sold 13,922 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $58.00, for a total value of $807,476.00. Following the transaction, the insider directly owned 165,890 shares in the company, valued at approximately $9,621,620. This represents a 7.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Denny Marie Post sold 5,500 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 4,477 shares in the company, valued at $224,745.40. The trade was a 55.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,285 shares of company stock worth $1,474,767 over the last quarter. Insiders own 3.75% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TNL shares. Barclays reduced their price target on shares of Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating for the company in a report on Thursday, April 24th. Morgan Stanley dropped their target price on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group reduced their target price on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating for the company in a 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.