Meridian Investment Counsel Inc. Sells 2,213 Shares of Travel + Leisure Co. (NYSE:TNL)

Meridian Investment Counsel Inc. reduced its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 14.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,640 shares of the company’s stock after selling 2,213 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Travel + Leisure were worth $582,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. bought a new position in Travel + Leisure in the first quarter worth about $211,000. Sei Investments Co. grew its position in Travel + Leisure by 138.4% in the 1st quarter. Sei Investments Co. now owns 116,671 shares of the company’s stock worth $5,712,000 after purchasing an additional 67,740 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Travel + Leisure by 3.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 67,114 shares of the company’s stock valued at $3,286,000 after acquiring an additional 2,512 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Travel + Leisure by 11.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 117,640 shares of the company’s stock valued at $5,760,000 after purchasing an additional 11,847 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in Travel + Leisure in the first quarter worth approximately $4,739,000. 87.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Amandine Robin-Caplan sold 3,246 shares of Travel + Leisure stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $41.84, for a total transaction of $135,812.64. Following the completion of the sale, the insider now owns 24,491 shares of the company’s stock, valued at approximately $1,024,703.44. The trade was a 11.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George Herrera sold 2,193 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total value of $93,158.64. Following the completion of the transaction, the director now directly owns 6,352 shares in the company, valued at approximately $269,832.96. This trade represents a 25.66 % 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.

Analyst Ratings Changes

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

Travel + Leisure Price Performance

NYSE:TNL opened at $53.78 on Friday. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 0.78 and a beta of 1.61. The business has a 50 day simple moving average of $47.01 and a 200-day simple moving average of $45.28. Travel + Leisure Co. has a 1 year low of $35.41 and a 1 year high of $54.79.

Travel + Leisure (NYSE:TNL) last issued 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. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The company had revenue of $993.00 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $1.54 earnings per share. Travel + Leisure’s revenue was up .7% on a year-over-year basis. As a group, analysts expect that Travel + Leisure Co. will post 5.77 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Friday, December 13th. Travel + Leisure’s dividend payout ratio (DPR) is currently 33.96%.

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.