Bank of New York Mellon Corp Increases Stock Position in Travel + Leisure Co. (NYSE:TNL)

Bank of New York Mellon Corp lifted its position in shares of Travel + Leisure Co. (NYSE:TNL) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 905,667 shares of the company’s stock after acquiring an additional 45,447 shares during the quarter. Bank of New York Mellon Corp owned 1.32% of Travel + Leisure worth $45,691,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TNL. International Assets Investment Management LLC raised its position in shares of Travel + Leisure by 4,532.8% during the 3rd quarter. International Assets Investment Management LLC now owns 5,374 shares of the company’s stock worth $248,000 after purchasing an additional 5,258 shares during the last quarter. New York State Teachers Retirement System boosted its position in Travel + Leisure by 6.4% during the 3rd quarter. New York State Teachers Retirement System now owns 108,283 shares of the company’s stock worth $4,990,000 after purchasing an additional 6,513 shares during the period. Janney Montgomery Scott LLC boosted its position in Travel + Leisure by 4.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 45,512 shares of the company’s stock valued at $2,097,000 after buying an additional 1,929 shares during the last quarter. QRG Capital Management Inc. boosted its position in Travel + Leisure by 4.6% in the 3rd quarter. QRG Capital Management Inc. now owns 18,826 shares of the company’s stock valued at $867,000 after buying an additional 821 shares during the last quarter. Finally, Foster & Motley Inc. purchased a new position in Travel + Leisure in the 3rd quarter valued at about $478,000. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Travel + Leisure Stock Performance

NYSE TNL opened at $54.89 on Thursday. Travel + Leisure Co. has a twelve month low of $39.91 and a twelve month high of $58.95. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 0.67 and a beta of 1.64. The firm’s 50 day moving average price is $53.68 and its two-hundred day moving average price is $50.26.

Travel + Leisure (NYSE:TNL) last issued its earnings results 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 net margin of 10.63% and a negative return on equity of 45.75%. The company had revenue of $971.00 million during the quarter, compared to analyst estimates of $958.87 million. During the same quarter last year, the business posted $1.98 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, research analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TNL. Morgan Stanley started coverage on shares of Travel + Leisure in a research note on Monday, January 6th. They issued an “overweight” rating and a $67.00 target price on the stock. Bank of America raised Travel + Leisure from an “underperform” rating to a “buy” rating and lifted their price target for the company from $40.00 to $60.00 in a report on Monday, January 27th. Stifel Nicolaus lifted their price target on Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Mizuho reissued a “neutral” rating and set a $64.00 target price (up previously from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their target price on Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

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.