Mitsubishi UFJ Trust & Banking Corp Lowers Position in Travel + Leisure Co. (NYSE:TNL)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,614 shares of the company’s stock after selling 535 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Travel + Leisure were worth $939,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TNL. Jones Financial Companies Lllp bought a new stake in shares of Travel + Leisure in the 4th quarter worth $25,000. Versant Capital Management Inc grew its position 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. MassMutual Private Wealth & Trust FSB increased its stake in Travel + Leisure by 314.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company’s stock valued at $33,000 after buying an additional 503 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Travel + Leisure by 36.9% during the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock worth $38,000 after buying an additional 204 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Travel + Leisure by 30.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock worth $39,000 after buying an additional 181 shares during the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

TNL has been the subject of a number of research analyst reports. Bank of America raised Travel + Leisure from an “underperform” rating to a “buy” rating and increased their price target for the company from $40.00 to $60.00 in a research report on Monday, January 27th. Tigress Financial lifted their target price on Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Morgan Stanley began coverage on shares of Travel + Leisure in a report on Monday, January 6th. They set an “overweight” rating and a $67.00 price objective for the company. Truist Financial boosted their target price on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.70.

Travel + Leisure Trading Up 0.2 %

Travel + Leisure stock opened at $46.41 on Wednesday. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 7.95, a P/E/G ratio of 0.67 and a beta of 1.61. The firm has a 50 day simple moving average of $52.73 and a 200 day simple moving average of $51.04. Travel + Leisure Co. has a 1-year low of $39.91 and a 1-year high of $58.95.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.04. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The company had revenue of $971.00 million for the quarter, compared to analyst estimates of $958.87 million. During the same period in the previous year, the company posted $1.98 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities research analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.56 per share. The ex-dividend date was Monday, March 17th. This represents a $2.24 annualized dividend and a yield of 4.83%. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s payout ratio is currently 38.36%.

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.