Commerce Bank Invests $1.52 Million in Travel + Leisure Co. $TNL

Commerce Bank purchased a new stake in shares of Travel + Leisure Co. (NYSE:TNL) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 19,944 shares of the company’s stock, valued at approximately $1,524,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TNL. Royal Bank of Canada lifted its holdings in Travel + Leisure by 42.0% in the first quarter. Royal Bank of Canada now owns 91,184 shares of the company’s stock worth $4,222,000 after purchasing an additional 26,965 shares during the period. Integrated Wealth Concepts LLC bought a new position in Travel + Leisure in the 1st quarter valued at about $396,000. Millennium Management LLC increased its stake in Travel + Leisure by 129.5% during the 1st quarter. Millennium Management LLC now owns 413,505 shares of the company’s stock valued at $19,141,000 after buying an additional 233,345 shares during the period. Goldman Sachs Group Inc. increased its stake in Travel + Leisure by 97.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 200,286 shares of the company’s stock valued at $9,271,000 after buying an additional 98,647 shares during the period. Finally, United Services Automobile Association bought a new stake in shares of Travel + Leisure during the 1st quarter worth about $206,000. 87.54% of the stock is currently owned by institutional investors.

Travel + Leisure Price Performance

NYSE TNL opened at $73.70 on Wednesday. The company’s 50 day simple moving average is $75.09 and its 200 day simple moving average is $72.15. Travel + Leisure Co. has a 12 month low of $58.07 and a 12 month high of $81.00. The company has a market capitalization of $4.51 billion, a P/E ratio of 20.14, a PEG ratio of 0.50 and a beta of 1.17.

Travel + Leisure (NYSE:TNL) last issued its earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.88. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.65 earnings per share. On average, analysts anticipate that Travel + Leisure Co. will post 7.7 earnings per share for the current year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, September 16th. Travel + Leisure’s dividend payout ratio is 65.57%.

Analysts Set New Price Targets

TNL has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of Travel + Leisure from $87.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Zacks Research lowered shares of Travel + Leisure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Morgan Stanley boosted their target price on Travel + Leisure from $83.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, August 18th. Susquehanna assumed coverage on Travel + Leisure in a research report on Tuesday, August 18th. They issued a “positive” rating and a $95.00 target price for the company. Finally, The Goldman Sachs Group raised Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Monday, June 1st. Eleven 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, Travel + Leisure presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.82.

Insider Transactions at Travel + Leisure

In other news, insider Kimberly Marshall sold 32,691 shares of the firm’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $75.00, for a total transaction of $2,451,825.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director George Herrera sold 500 shares of Travel + Leisure stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the completion of the transaction, the director owned 1,353 shares in the company, valued at $101,691.48. The trade was a 26.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 95,135 shares of company stock valued at $7,022,699 in the last three months. 4.01% of the stock is currently owned by corporate insiders.

Travel + Leisure Company Profile

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.