Bank of Montreal Can Cuts Holdings in Travel + Leisure Co. (NYSE:TNL)

Bank of Montreal Can decreased its position in shares of Travel + Leisure Co. (NYSE:TNL) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,806 shares of the company’s stock after selling 3,195 shares during the period. Bank of Montreal Can owned approximately 0.09% of Travel + Leisure worth $2,825,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new position in shares of Travel + Leisure during the second quarter valued at about $27,000. Allspring Global Investments Holdings LLC grew its position in shares of Travel + Leisure by 2,759.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock valued at $28,000 after purchasing an additional 607 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Travel + Leisure during the second quarter valued at about $31,000. Larson Financial Group LLC purchased a new position in shares of Travel + Leisure during the second quarter valued at about $36,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Travel + Leisure during the second quarter valued at about $38,000. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TNL. Barclays downgraded shares of Travel + Leisure from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $46.00 to $40.00 in a report on Thursday, September 26th. The Goldman Sachs Group began coverage on Travel + Leisure in a research report on Wednesday, September 18th. They issued a “neutral” rating and a $44.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their price target on Travel + Leisure from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on Travel + Leisure from $53.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Truist Financial dropped their price target on Travel + Leisure from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Travel + Leisure presently has a consensus rating of “Moderate Buy” and an average price target of $54.33.

Insider Activity at Travel + Leisure

In related news, insider Amandine Robin-Caplan sold 3,246 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $41.84, for a total value of $135,812.64. Following the completion of the sale, the insider now owns 24,491 shares in the company, valued at $1,024,703.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director George Herrera sold 2,193 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total value of $93,158.64. Following the completion of the transaction, the director now owns 6,352 shares of the company’s stock, valued at $269,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Amandine Robin-Caplan sold 3,246 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $41.84, for a total transaction of $135,812.64. Following the completion of the transaction, the insider now directly owns 24,491 shares of the company’s stock, valued at approximately $1,024,703.44. The disclosure for this sale can be found here. 4.02% of the stock is owned by company insiders.

Travel + Leisure Price Performance

Shares of NYSE:TNL opened at $46.30 on Thursday. Travel + Leisure Co. has a 1 year low of $32.10 and a 1 year high of $49.91. The business has a 50 day simple moving average of $43.55 and a two-hundred day simple moving average of $44.72. The firm has a market capitalization of $3.23 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 0.64 and a beta of 1.62.

Travel + Leisure (NYSE:TNL) last announced its earnings results on Wednesday, July 24th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.13. The business had revenue of $985.00 million during the quarter, compared to analyst estimates of $987.20 million. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 11.35%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.33 earnings per share. Equities research analysts expect that Travel + Leisure Co. will post 5.67 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.50 dividend. The ex-dividend date was Friday, September 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.32%. Travel + Leisure’s payout ratio is 36.83%.

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.