Commerce Bank Has $729,000 Position in Travel + Leisure Co. (NYSE:TNL)

Key Points

• Commerce Bank significantly reduced its stake in Travel + Leisure Co. by selling 18,884 shares, lowering its holdings by 54.5% to 15,739 shares valued at $729,000.
• Insider transactions include the sale of 124,454 shares by Geoffrey Richards for approximately $7.78 million, indicating a 51.18% decrease in his ownership.
• The company recently announced a quarterly dividend of $0.56 per share, with a dividend yield of 3.8% and a payout ratio of 38.62%.

Commerce Bank lowered its stake in Travel + Leisure Co. (NYSE:TNL - Free Report) by 54.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,739 shares of the company's stock after selling 18,884 shares during the period. Commerce Bank's holdings in Travel + Leisure were worth $729,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Natixis acquired a new stake in shares of Travel + Leisure in the 4th quarter valued at $37,000. UMB Bank n.a. boosted its holdings in Travel + Leisure by 54.0% in the first quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock valued at $54,000 after acquiring an additional 409 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Travel + Leisure in the first quarter worth about $54,000. Rossby Financial LCC acquired a new stake in Travel + Leisure in the first quarter worth about $55,000. Finally, Canada Pension Plan Investment Board raised 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 purchasing an additional 1,000 shares during the last quarter. Institutional investors own 87.54% of the company's stock.

Insider Buying and Selling

In other Travel + Leisure news, insider Geoffrey Richards sold 124,454 shares of Travel + Leisure stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $62.56, for a total value of $7,785,842.24. Following the sale, the insider owned 118,718 shares of the company's stock, valued at $7,426,998.08. This trade represents a 51.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Thomas Michael Duncan sold 8,201 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $62.24, for a total value of $510,430.24. Following the transaction, the chief accounting officer directly owned 20,000 shares of the company's stock, valued at $1,244,800. This represents a 29.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 323,474 shares of company stock valued at $19,908,918. 3.75% of the stock is owned by corporate insiders.

Travel + Leisure Stock Down 0.4%

Travel + Leisure stock traded down $0.21 during mid-day trading on Friday, hitting $58.88. 493,557 shares of the company's stock were exchanged, compared to its average volume of 702,204. The company's 50 day simple moving average is $54.55 and its 200-day simple moving average is $51.11. The firm has a market capitalization of $3.82 billion, a P/E ratio of 10.15, a PEG ratio of 0.57 and a beta of 1.43. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $63.31.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly 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 negative return on equity of 47.47% and a net margin of 10.14%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business earned $1.52 EPS. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. Research analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Friday, June 13th. Travel + Leisure's dividend payout ratio is 38.62%.

Analyst Ratings Changes

TNL has been the topic of several recent research reports. Wall Street Zen raised shares of Travel + Leisure from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. The Goldman Sachs Group reduced their price objective 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. 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 report on Thursday, July 24th. JMP Securities increased their price target on Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley reduced their price target on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Travel + Leisure presently has an average rating of "Moderate Buy" and an average target price of $62.30.

About Travel + Leisure

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.