US Bancorp DE Decreases Stock Holdings in Travel + Leisure Co. (NYSE:TNL)

Key Points

• US Bancorp DE reduced its position in Travel + Leisure Co. by 19.6%, selling 4,651 shares and holding 19,056 shares valued at approximately $882,000.
• Travel + Leisure reported a quarterly earnings result of $1.65 EPS, missing estimates by $0.01, while revenues increased by 3.4% year-over-year to $1.02 billion.
• The company recently declared a quarterly dividend of $0.56 per share, reflecting an annual yield of 3.8% with a dividend payout ratio of 38.62%.

US Bancorp DE trimmed its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,056 shares of the company's stock after selling 4,651 shares during the quarter. US Bancorp DE's holdings in Travel + Leisure were worth $882,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. LPL Financial LLC increased its stake in shares of Travel + Leisure by 1.2% during the fourth quarter. LPL Financial LLC now owns 37,983 shares of the company's stock worth $1,916,000 after purchasing an additional 468 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Travel + Leisure by 18.1% during the fourth quarter. Wells Fargo & Company MN now owns 68,228 shares of the company's stock worth $3,442,000 after purchasing an additional 10,437 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Travel + Leisure by 4.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 200,787 shares of the company's stock worth $10,130,000 after purchasing an additional 8,374 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Travel + Leisure by 21.0% during the fourth quarter. Federated Hermes Inc. now owns 9,432 shares of the company's stock worth $476,000 after purchasing an additional 1,637 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in shares of Travel + Leisure by 1.0% during the fourth quarter. Cerity Partners LLC now owns 19,549 shares of the company's stock worth $986,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TNL. Mizuho raised shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $63.00 to $72.00 in a research note on Thursday, July 24th. Morgan Stanley dropped their price objective 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. JMP Securities upped their price objective on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research note on Thursday, July 24th. Barclays upped their price objective on shares of Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a research note on Thursday, July 24th. 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 given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.30.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, insider Kimberly Marshall sold 16,500 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $60.00, for a total transaction of $990,000.00. Following the sale, the insider directly owned 56,736 shares in the company, valued at $3,404,160. This represents a 22.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Myers sold 110,885 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the sale, the insider owned 142,553 shares in the company, valued at approximately $8,885,328.49. This trade represents a 43.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 320,174 shares of company stock worth $19,765,874. 3.75% of the stock is owned by company insiders.

Travel + Leisure Stock Down 1.4%

Shares of Travel + Leisure stock traded down $0.85 during mid-day trading on Thursday, hitting $60.72. The stock had a trading volume of 411,346 shares, compared to its average volume of 699,107. The firm has a 50-day moving average of $55.42 and a two-hundred day moving average of $51.28. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $63.31. The firm has a market cap of $3.94 billion, a P/E ratio of 10.47, a price-to-earnings-growth ratio of 0.58 and a beta of 1.43.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $1.01 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. The business's revenue was up 3.4% compared to the same quarter last year. Sell-side analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, September 12th. Travel + Leisure's dividend payout ratio is currently 38.62%.

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.