Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Travel + Leisure Co. (NYSE:TNL)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Travel + Leisure Co. (NYSE:TNL) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,886 shares of the company’s stock after purchasing an additional 1,385 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Travel + Leisure were worth $902,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in Travel + Leisure by 30.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock worth $39,000 after purchasing an additional 181 shares in the last quarter. UMB Bank n.a. boosted its position in Travel + Leisure by 36.9% during the fourth quarter. UMB Bank n.a. now owns 757 shares of the company’s stock worth $38,000 after purchasing an additional 204 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Travel + Leisure by 49.2% in the fourth quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock valued at $32,000 after acquiring an additional 210 shares in the last quarter. Hourglass Capital LLC lifted its position in shares of Travel + Leisure by 0.6% in the fourth quarter. Hourglass Capital LLC now owns 36,230 shares of the company’s stock valued at $1,828,000 after acquiring an additional 230 shares in the last quarter. Finally, Gries Financial LLC lifted its position in shares of Travel + Leisure by 5.5% in the fourth quarter. Gries Financial LLC now owns 5,074 shares of the company’s stock valued at $256,000 after acquiring an additional 265 shares in the last quarter. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Travel + Leisure Trading Down 0.9 %

Travel + Leisure stock opened at $47.55 on Friday. The firm has a market capitalization of $3.17 billion, a P/E ratio of 8.14, a PEG ratio of 0.67 and a beta of 1.61. The stock has a fifty day moving average price of $53.43 and a 200 day moving average price of $50.68. Travel + Leisure Co. has a 52 week low of $39.91 and a 52 week high of $58.95.

Travel + Leisure (NYSE:TNL) last announced 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 during the quarter, compared to analyst estimates of $958.87 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.98 earnings per share. As a group, equities analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a yield of 4.71%. Travel + Leisure’s dividend payout ratio is currently 38.36%.

Insiders Place Their Bets

In related news, insider Michael Dean Brown bought 2,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired 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 $19,070,221.96. This represents a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George Herrera sold 6,336 shares of the 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 approximately $129,121.20. This trade represents a 69.66 % decrease in their position. The disclosure for this sale can be found here. 4.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TNL has been the topic of several recent research reports. Morgan Stanley initiated coverage on Travel + Leisure in a research report on Monday, January 6th. They issued an “overweight” rating and a $67.00 price objective on the stock. Truist Financial upped their price objective on Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Bank of America upgraded Travel + Leisure from an “underperform” rating to a “buy” rating and upped their price objective for the company from $40.00 to $60.00 in a research report on Monday, January 27th. Barclays upped their price objective on Travel + Leisure from $48.00 to $54.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Finally, Stifel Nicolaus upped their price objective on Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Travel + Leisure has an average rating of “Moderate Buy” and a consensus target price of $63.70.

Travel + Leisure 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.