First Trust Advisors LP lowered its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 10.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 183,381 shares of the company’s stock after selling 20,331 shares during the quarter. First Trust Advisors LP owned about 0.09% of Royal Caribbean Cruises worth $21,738,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. TLP Group LLC purchased a new stake in Royal Caribbean Cruises in the 2nd quarter worth about $105,000. Acrospire Investment Management LLC grew its holdings in Royal Caribbean Cruises by 25.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock valued at $109,000 after buying an additional 200 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Royal Caribbean Cruises during the 1st quarter valued at about $119,000. NEXT Financial Group Inc grew its holdings in Royal Caribbean Cruises by 9.0% during the 2nd quarter. NEXT Financial Group Inc now owns 1,090 shares of the company’s stock valued at $119,000 after buying an additional 90 shares in the last quarter. Finally, Pinebridge Investments L.P. purchased a new position in Royal Caribbean Cruises during the 2nd quarter valued at about $121,000. 71.25% of the stock is owned by institutional investors.
In other news, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $121.29, for a total value of $2,425,800.00. Following the sale, the chief executive officer now owns 927,741 shares in the company, valued at approximately $112,525,705.89. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Harri U. Kulovaara sold 7,580 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $119.61, for a total transaction of $906,643.80. Following the sale, the executive vice president now directly owns 23,493 shares of the company’s stock, valued at approximately $2,809,997.73. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,580 shares of company stock worth $8,225,444. Company insiders own 15.30% of the company’s stock.
A number of research analysts have weighed in on RCL shares. J P Morgan Chase & Co raised Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $111.00 to $130.00 in a report on Thursday, July 20th. Bank of America Corporation started coverage on Royal Caribbean Cruises in a report on Monday, July 24th. They set a “neutral” rating and a $123.00 target price for the company. Goldman Sachs Group, Inc. (The) started coverage on Royal Caribbean Cruises in a report on Monday, July 24th. They set a “neutral” rating for the company. Zacks Investment Research raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $128.00 target price for the company in a report on Thursday, July 27th. Finally, BidaskClub lowered Royal Caribbean Cruises from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Royal Caribbean Cruises currently has an average rating of “Buy” and a consensus price target of $123.04.
Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) opened at $123.18 on Friday. The stock has a market capitalization of $26.48 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 0.74 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.15 and a quick ratio of 0.12.
Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 EPS. equities analysts forecast that Royal Caribbean Cruises Ltd. will post 7.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 11th. Stockholders of record on Friday, September 22nd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, September 21st. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. Royal Caribbean Cruises’s dividend payout ratio is 33.71%.
Royal Caribbean Cruises Profile
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).
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