Commerce Bank Sells 18,884 Shares of 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 lessened 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 13F filing 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 reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Cerity Partners LLC boosted its stake 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 valued at $986,000 after purchasing an additional 200 shares in the last quarter. Capital Analysts LLC boosted its position in Travel + Leisure by 16.8% during the 4th quarter. Capital Analysts LLC now owns 1,576 shares of the company's stock valued at $80,000 after buying an additional 227 shares during the period. KBC Group NV boosted its position in Travel + Leisure by 8.1% during the 1st quarter. KBC Group NV now owns 3,128 shares of the company's stock valued at $145,000 after buying an additional 235 shares during the period. Cetera Investment Advisers lifted its position 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 purchasing an additional 317 shares during the period. Finally, UMB Bank n.a. lifted its position 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 purchasing an additional 409 shares during the period. Hedge funds and other institutional investors own 87.54% of the company's stock.

Travel + Leisure Stock Performance

Shares of TNL traded down $0.21 during mid-day trading on Friday, reaching $58.88. The stock had a trading volume of 493,557 shares, compared to its average volume of 800,934. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 0.57 and a beta of 1.43. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $63.31. The business has a fifty day moving average of $54.75 and a 200 day moving average of $51.15.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.65 EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the firm posted $1.52 EPS. Travel + Leisure's quarterly revenue was up 3.4% compared to the same quarter last year. On average, research analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

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

Insider Buying and Selling

In related news, insider Jeffrey Myers sold 110,885 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $62.33, for a total value of $6,911,462.05. Following the sale, the insider owned 142,553 shares in the company, valued at approximately $8,885,328.49. The trade was a 43.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Dean Brown acquired 1,500 shares of the business's stock in a transaction on Friday, August 1st. The shares were purchased at an average price of $58.39 per share, for a total transaction of $87,585.00. Following the transaction, the insider directly owned 427,821 shares of the company's stock, valued at approximately $24,980,468.19. The trade was a 0.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 323,474 shares of company stock valued at $19,908,918 in the last three months. Corporate insiders own 3.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TNL. Barclays raised their target price on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of Travel + Leisure from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $63.00 to $72.00 in a research note on Thursday, July 24th. Morgan Stanley reduced their price target on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, JMP Securities raised their price objective on shares of Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, 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.