Jeffrey Myers Sells 23,337 Shares of Travel + Leisure Co. (NYSE:TNL) Stock

Travel + Leisure Co. (NYSE:TNL - Get Free Report) insider Jeffrey Myers sold 23,337 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $60.00, for a total value of $1,400,220.00. Following the completion of the transaction, the insider directly owned 142,553 shares in the company, valued at approximately $8,553,180. This represents a 14.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Jeffrey Myers also recently made the following trade(s):

• On Thursday, July 24th, Jeffrey Myers sold 110,885 shares of Travel + Leisure stock. The stock was sold at an average price of $62.33, for a total transaction of $6,911,462.05.
• On Thursday, July 10th, Jeffrey Myers sold 13,922 shares of Travel + Leisure stock. The stock was sold at an average price of $58.00, for a total transaction of $807,476.00.
• On Tuesday, July 8th, Jeffrey Myers sold 6,863 shares of Travel + Leisure stock. The shares were sold at an average price of $57.00, for a total transaction of $391,191.00.

Travel + Leisure Stock Down 0.5%

Shares of NYSE TNL traded down $0.30 during trading hours on Monday, reaching $62.88. 827,790 shares of the stock traded hands, compared to its average volume of 699,464. The company's 50-day simple moving average is $52.47 and its two-hundred day simple moving average is $50.55. The company has a market capitalization of $4.08 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 0.60 and a beta of 1.38. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $63.28.

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 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 period in the prior year, the business posted $1.52 EPS. Travel + Leisure's revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.56 per share. The ex-dividend date was Friday, June 13th. This represents a $2.24 dividend on an annualized basis and a yield of 3.56%. Travel + Leisure's dividend payout ratio is currently 38.62%.

Institutional Investors Weigh In On Travel + Leisure

Institutional investors have recently added to or reduced their stakes in the company. Elequin Capital LP bought a new position in Travel + Leisure during the 1st quarter valued at approximately $30,000. Natixis purchased a new stake in Travel + Leisure in the fourth quarter worth about $37,000. Geneos Wealth Management Inc. lifted its stake in shares of 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 purchasing an additional 715 shares during the period. UMB Bank n.a. raised 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 worth $54,000 after purchasing an additional 409 shares in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in Travel + Leisure during the first quarter valued at $54,000. Hedge funds and other institutional investors own 87.54% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on TNL shares. Mizuho raised Travel + Leisure from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $63.00 to $72.00 in a research report on Thursday. 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. Morgan Stanley lowered their target price on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Barclays set a $54.00 price target on Travel + Leisure and gave the stock an "underweight" rating in a report on Thursday. Finally, Wall Street Zen raised Travel + Leisure from a "hold" rating to a "buy" rating in a report on Saturday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Travel + Leisure currently 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.