Swiss National Bank Trims Position in Travel + Leisure Co. (NYSE:TNL)

Swiss National Bank decreased its position in shares of Travel + Leisure Co. (NYSE:TNL) by 1.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 137,300 shares of the company’s stock after selling 1,900 shares during the quarter. Swiss National Bank owned approximately 0.20% of Travel + Leisure worth $6,927,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position in shares of Travel + Leisure by 30.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock valued at $39,000 after acquiring an additional 181 shares in the last quarter. UMB Bank n.a. raised its stake in Travel + Leisure by 36.9% during the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock valued at $38,000 after purchasing an additional 204 shares during the period. Versant Capital Management Inc lifted its holdings in Travel + Leisure by 49.2% in the 4th quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock worth $32,000 after purchasing an additional 210 shares in the last quarter. Hourglass Capital LLC boosted its stake in Travel + Leisure by 0.6% in the 4th quarter. Hourglass Capital LLC now owns 36,230 shares of the company’s stock worth $1,828,000 after purchasing an additional 230 shares during the period. Finally, Avantax Advisory Services Inc. grew its holdings in Travel + Leisure by 2.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 8,944 shares of the company’s stock valued at $451,000 after buying an additional 236 shares in the last quarter. Institutional investors own 87.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TNL. JPMorgan Chase & Co. upped their target price on shares of Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Bank of America upgraded Travel + Leisure from an “underperform” rating to a “buy” rating and raised their price objective for the company from $40.00 to $60.00 in a research report on Monday, January 27th. Tigress Financial boosted their target price on Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Stifel Nicolaus lifted their price objective on Travel + Leisure from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley began coverage on shares of Travel + Leisure in a report on Monday, January 6th. They issued an “overweight” rating and a $67.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Travel + Leisure has an average rating of “Moderate Buy” and an average price target of $63.70.

Travel + Leisure Stock Performance

TNL opened at $47.12 on Friday. The stock’s 50 day moving average price is $53.37 and its 200-day moving average price is $50.75. Travel + Leisure Co. has a one year low of $39.91 and a one year high of $58.95. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 8.07, a P/E/G ratio of 0.67 and a beta of 1.61.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.68 by $0.04. The company had revenue of $971.00 million for the quarter, compared to the consensus estimate of $958.87 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.98 EPS. As a group, analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.56 dividend. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, March 17th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.75%. Travel + Leisure’s payout ratio is presently 38.36%.

Insiders Place Their Bets

In other news, insider Michael Dean Brown purchased 2,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the completion of the purchase, the insider now owns 408,706 shares in the company, valued at approximately $19,070,221.96. This represents a 0.49 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value of $296,524.80. Following the completion of the sale, the director now owns 2,759 shares of the company’s stock, valued at $129,121.20. The trade was a 69.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.02% of the stock is currently owned by company insiders.

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.