Commerce Bank Sells 60,260 Shares of Travel + Leisure Co. (NYSE:TNL)

Commerce Bank reduced its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 35.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 107,773 shares of the company’s stock after selling 60,260 shares during the period. Commerce Bank’s holdings in Travel + Leisure were worth $4,966,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tremblant Capital Group raised its stake in Travel + Leisure by 1.7% in the first quarter. Tremblant Capital Group now owns 266,503 shares of the company’s stock valued at $13,048,000 after purchasing an additional 4,349 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Travel + Leisure by 1.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 392,299 shares of the company’s stock worth $19,208,000 after buying an additional 7,392 shares during the period. Swedbank AB purchased a new stake in Travel + Leisure in the first quarter worth $33,598,000. Cetera Advisors LLC purchased a new stake in shares of Travel + Leisure in the first quarter worth $206,000. Finally, Abich Financial Wealth Management LLC lifted its position in Travel + Leisure by 10,344.4% in the 1st quarter. Abich Financial Wealth Management LLC now owns 940 shares of the company’s stock valued at $46,000 after acquiring an additional 931 shares in the last quarter. Institutional investors own 87.54% of the company’s stock.

Travel + Leisure Price Performance

Shares of Travel + Leisure stock opened at $54.16 on Friday. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.76 and a beta of 1.61. Travel + Leisure Co. has a 1 year low of $35.41 and a 1 year high of $54.79. The firm’s 50-day moving average is $47.92 and its two-hundred day moving average is $45.54.

Travel + Leisure (NYSE:TNL) last announced its earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.08. The company had revenue of $993.00 million for the quarter, compared to analyst estimates of $1.01 billion. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.54 EPS. On average, equities analysts expect that Travel + Leisure Co. will post 5.77 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.00 annualized dividend and a yield of 3.69%. Travel + Leisure’s dividend payout ratio (DPR) is presently 33.96%.

Insider Buying and Selling

In other 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 directly owns 24,491 shares in the company, valued at $1,024,703.44. The trade was a 11.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Geoffrey Richards sold 5,009 shares of Travel + Leisure stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $52.16, for a total transaction of $261,269.44. Following the completion of the sale, the insider now owns 125,209 shares in the company, valued at approximately $6,530,901.44. This trade represents a 3.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,055 shares of company stock valued at $4,544,170 over the last 90 days. Insiders own 4.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial lowered their price objective on shares of Travel + Leisure from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. The Goldman Sachs Group increased their price objective on shares of Travel + Leisure from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Tigress Financial increased their price target on Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on Travel + Leisure from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Finally, Barclays lifted their price target on shares of Travel + Leisure from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.67.

Travel + Leisure Company Profile

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.