Bank of New York Mellon Corp Makes New Investment in Travel + Leisure Co. $TNL

Key Points

• Bank of New York Mellon acquired 720,755 shares of Travel + Leisure, valued at approximately $55.1 million, giving it an estimated 1.18% stake. Institutional investors collectively own 87.54% of the company.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $87.82.
• Travel + Leisure reported quarterly EPS of $1.88, matching estimates, while revenue rose 4.4% year over year to $1.06 billion. The company also declared a $0.60 quarterly dividend, equivalent to a 3.3% annual yield.

Bank of New York Mellon Corp acquired a new position in Travel + Leisure Co. (NYSE:TNL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 720,755 shares of the company's stock, valued at approximately $55,087,000. Bank of New York Mellon Corp owned about 1.18% of Travel + Leisure as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new stake in shares of Travel + Leisure during the 1st quarter valued at about $1,294,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Travel + Leisure during the fourth quarter valued at approximately $2,231,000. LSV Asset Management boosted its holdings in Travel + Leisure by 1.1% in the fourth quarter. LSV Asset Management now owns 1,612,657 shares of the company's stock worth $113,741,000 after purchasing an additional 17,377 shares during the last quarter. UBS Group AG raised its stake in Travel + Leisure by 21.5% during the 4th quarter. UBS Group AG now owns 280,291 shares of the company's stock valued at $19,769,000 after buying an additional 49,519 shares during the last quarter. Finally, Truist Financial Corp raised its stake in Travel + Leisure by 12.7% during the 4th quarter. Truist Financial Corp now owns 738,304 shares of the company's stock valued at $52,073,000 after buying an additional 83,414 shares during the last quarter. 87.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Zacks Research downgraded Travel + Leisure from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 19th. Barclays increased their target price on Travel + Leisure from $74.00 to $77.00 and gave the company an "equal weight" rating in a report on Thursday, July 23rd. Citigroup reissued a "market outperform" rating on shares of Travel + Leisure in a research report on Thursday, July 23rd. Susquehanna assumed coverage on Travel + Leisure in a research note on Tuesday, August 18th. They set a "positive" rating and a $95.00 price target for the company. Finally, Mizuho upped their price target on shares of Travel + Leisure from $105.00 to $107.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $87.82.

Travel + Leisure Price Performance

NYSE:TNL opened at $73.58 on Thursday. Travel + Leisure Co. has a one year low of $58.07 and a one year high of $81.00. The business has a fifty day moving average price of $75.05 and a 200-day moving average price of $72.17. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 0.50 and a beta of 1.17.

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

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, September 16th. Travel + Leisure's dividend payout ratio is presently 65.57%.

Insider Transactions at Travel + Leisure

In related news, insider Kimberly Marshall sold 32,691 shares of the company's stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $75.00, for a total value of $2,451,825.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George Herrera sold 500 shares of the company's stock in a transaction 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 directly owned 1,353 shares of the company's stock, valued at $101,691.48. This represents a 26.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 95,135 shares of company stock valued at $7,022,699 over the last three months. Corporate insiders own 4.01% of the company's stock.

Travel + Leisure Profile

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.

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