M&T Bank Corp Acquires Shares of 40,117 Travel + Leisure Co. $TNL

Key Points

• M&T Bank Corp acquired a new stake of 40,117 shares in Travel + Leisure (NYSE:TNL), valued at about $2.83 million, representing roughly 0.06% of the company at quarter-end while institutional investors own approximately 87.54% of the stock.
• Analysts hold a consensus rating of Moderate Buy on TNL with an average price target of $85.20 (nine Buy ratings and two Hold ratings).
• Travel + Leisure beat quarterly estimates with $1.45 EPS versus $1.31 expected and $961M revenue, raised its quarterly dividend to $0.60 (a 3.7% yield), and saw mixed insider activity including the CFO buying 1,000 shares amid insiders selling ~121,738 shares in the past 90 days.

M&T Bank Corp acquired a new stake in Travel + Leisure Co. (NYSE:TNL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 40,117 shares of the company's stock, valued at approximately $2,829,000. M&T Bank Corp owned about 0.06% of Travel + Leisure at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TNL. Danske Bank A S acquired a new stake in Travel + Leisure in the 3rd quarter valued at about $30,000. CNB Bank acquired a new stake in Travel + Leisure in the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. raised its holdings in Travel + Leisure by 293.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 959 shares of the company's stock valued at $44,000 after acquiring an additional 715 shares during the last quarter. CENTRAL TRUST Co increased its holdings in shares of Travel + Leisure by 181.5% during the 3rd quarter. CENTRAL TRUST Co now owns 791 shares of the company's stock worth $47,000 after buying an additional 510 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Travel + Leisure by 13,383.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 809 shares of the company's stock worth $48,000 after buying an additional 803 shares during the last quarter. Institutional investors and hedge funds own 87.54% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TNL. Wells Fargo & Company cut their price target on shares of Travel + Leisure from $88.00 to $87.00 and set an "overweight" rating for the company in a report on Thursday. The Goldman Sachs Group raised their price target on shares of Travel + Leisure from $71.00 to $81.00 and gave the stock a "neutral" rating in a report on Thursday, February 19th. Mizuho cut their price target on shares of Travel + Leisure from $107.00 to $105.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $90.00 price target on shares of Travel + Leisure in a report on Friday, February 20th. Finally, Citigroup restated an "outperform" rating on shares of Travel + Leisure in a report on Thursday, February 19th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $85.20.

Travel + Leisure Stock Performance

NYSE:TNL opened at $65.41 on Tuesday. The stock has a market capitalization of $4.08 billion, a P/E ratio of 18.37, a PEG ratio of 0.51 and a beta of 1.32. The company has a 50 day moving average price of $72.46 and a 200 day moving average price of $69.78. Travel + Leisure Co. has a fifty-two week low of $42.58 and a fifty-two week high of $81.00.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.14. The firm had revenue of $961.00 million during the quarter, compared to analysts' expectations of $954.81 million. Travel + Leisure had a net margin of 5.85% and a negative return on equity of 48.06%. The firm's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.11 EPS. Research analysts forecast that Travel + Leisure Co. will post 7.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 20th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, March 20th. This is an increase from Travel + Leisure's previous quarterly dividend of $0.56. Travel + Leisure's dividend payout ratio is 67.42%.

Insider Activity at Travel + Leisure

In related news, insider Amandine Robin-Caplan sold 3,904 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $74.61, for a total transaction of $291,277.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Erik D. Hoag purchased 1,000 shares of the company's stock in a transaction on Thursday, April 23rd. The stock was acquired at an average price of $65.67 per share, with a total value of $65,670.00. Following the purchase, the chief financial officer owned 1,000 shares of the company's stock, valued at approximately $65,670. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 121,738 shares of company stock worth $9,136,054. Company insiders own 4.01% of the company's stock.

About Travel + Leisure

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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