Meridian Investment Counsel Inc. Lowers Position in Travel + Leisure Co. (NYSE:TNL)

Meridian Investment Counsel Inc. decreased its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 14.9% during the third quarter, HoldingsChannel reports. The firm owned 12,640 shares of the company’s stock after selling 2,213 shares during the period. Meridian Investment Counsel Inc.’s holdings in Travel + Leisure were worth $582,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TNL. UMB Bank n.a. increased its holdings in Travel + Leisure by 1,948.1% during the third quarter. UMB Bank n.a. now owns 553 shares of the company’s stock valued at $25,000 after buying an additional 526 shares during the period. Versant Capital Management Inc purchased a new stake in shares of Travel + Leisure during the 2nd quarter worth $27,000. Allspring Global Investments Holdings LLC grew its stake in Travel + Leisure by 2,759.1% in 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 during the last quarter. Family Firm Inc. bought a new position in Travel + Leisure in the second quarter worth about $31,000. Finally, Larson Financial Group LLC purchased a new stake in shares of Travel + Leisure during the second quarter valued at about $36,000. Institutional investors own 87.54% of the company’s stock.

Travel + Leisure Trading Down 0.3 %

Travel + Leisure stock opened at $53.78 on Friday. The firm has a market cap of $3.68 billion, a PE ratio of 9.13, a P/E/G ratio of 0.78 and a beta of 1.61. Travel + Leisure Co. has a 12 month low of $35.41 and a 12 month high of $54.79. The stock’s 50 day simple moving average is $47.01 and its two-hundred day simple moving average is $45.28.

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

Travel + Leisure Announces Dividend

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 dividend on an annualized basis and a yield of 3.72%. Travel + Leisure’s payout ratio is 33.96%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TNL. Barclays raised their target price on shares of Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Tigress Financial increased their price objective on Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on Travel + Leisure from $53.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. The Goldman Sachs Group increased their price target on shares of Travel + Leisure from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Truist Financial dropped their price objective on shares of Travel + Leisure from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.67.

Insider Buying and Selling at Travel + Leisure

In other Travel + Leisure news, Director George Herrera sold 2,193 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total transaction of $93,158.64. Following the transaction, the director now directly owns 6,352 shares of the company’s stock, valued at $269,832.96. This trade represents a 25.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Amandine Robin-Caplan sold 3,246 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $41.84, for a total transaction of $135,812.64. Following the sale, the insider now directly owns 24,491 shares of the company’s stock, valued at $1,024,703.44. This represents a 11.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,055 shares of company stock valued at $4,544,170. Company insiders own 4.02% of the company’s stock.

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.