CCM Investment Group LLC Buys Shares of 9,287 Travel + Leisure Co. (NYSE:TNL)

Key Points

• CCM Investment Group LLC acquired a new stake in Travel + Leisure Co. by purchasing 9,287 shares valued at approximately $431,000 in the 1st quarter.
• Travel + Leisure reported $1.65 EPS for the quarter, slightly below analysts' expectations, while revenue increased by 3.4% year-over-year to $1.02 billion.
• The company announced a quarterly dividend of $0.56 per share, resulting in an annualized dividend yield of 3.8%, reflecting a dividend payout ratio of 38.62%.

CCM Investment Group LLC acquired a new stake in Travel + Leisure Co. (NYSE:TNL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,287 shares of the company's stock, valued at approximately $431,000.

A number of other large investors also recently modified their holdings of the company. Cerity Partners LLC lifted its holdings in shares of Travel + Leisure by 1.0% in the 4th quarter. Cerity Partners LLC now owns 19,549 shares of the company's stock worth $986,000 after acquiring an additional 200 shares during the last quarter. Capital Analysts LLC lifted its holdings in shares of Travel + Leisure by 16.8% in 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. KBC Group NV lifted its holdings in shares of Travel + Leisure by 8.1% in the 1st quarter. KBC Group NV now owns 3,128 shares of the company's stock worth $145,000 after acquiring an additional 235 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Travel + Leisure by 3.0% in the 1st quarter. Cetera Investment Advisers now owns 10,789 shares of the company's stock worth $499,000 after acquiring an additional 317 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Travel + Leisure by 54.0% in the 1st quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock worth $54,000 after acquiring an additional 409 shares during the last quarter. 87.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TNL has been the topic of several analyst reports. Barclays lifted their target price on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research note on Thursday, July 24th. Morgan Stanley decreased 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 note on Tuesday, April 22nd. Mizuho raised shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $63.00 to $72.00 in a research note on Thursday, July 24th. The Goldman Sachs Group decreased their target price on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Wall Street Zen raised shares of Travel + Leisure from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Travel + Leisure presently has an average rating of "Moderate Buy" and an average price target of $62.30.

Insider Buying and Selling

In related news, CAO Thomas Michael Duncan sold 8,201 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $62.24, for a total value of $510,430.24. Following the transaction, the chief accounting officer owned 20,000 shares in the company, valued at $1,244,800. The trade was a 29.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kimberly Marshall sold 16,500 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $60.00, for a total transaction of $990,000.00. Following the completion of the transaction, the insider owned 56,736 shares in the company, valued at approximately $3,404,160. The trade was a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 317,974 shares of company stock worth $19,632,818 over the last quarter. 3.75% of the stock is owned by insiders.

Travel + Leisure Stock Up 4.3%

Shares of TNL stock traded up $2.49 during mid-day trading on Tuesday, reaching $60.49. 525,718 shares of the company's stock traded hands, compared to its average volume of 817,116. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $63.31. The company has a market cap of $3.93 billion, a P/E ratio of 10.43, a P/E/G ratio of 0.56 and a beta of 1.43. The company's 50-day moving average price is $55.16 and its 200-day moving average price is $51.21.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.65 EPS for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $1.52 EPS. The business's quarterly revenue was up 3.4% on a year-over-year basis. Equities analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Friday, June 13th. Travel + Leisure's payout ratio is 38.62%.

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.