Primecap Management Company Owns Stake in Royal Caribbean Cruises Ltd. (RCL)

Primecap Management Company

recently stated that they own 4.9% of Royal Caribbean Cruises Ltd. (NYSE:RCL) in a Schedule 13G/A disclosure that was filed with the SEC on Monday, November 6th. The investor owns 10,507,984 shares of the stock worth $1,318,541,832. The filing is available through the SEC website at this hyperlink.

A number of other hedge funds also recently made changes to their positions in the business. Eqis Capital Management Inc. boosted its holdings in shares of Royal Caribbean Cruises by 0.3% in the 2nd quarter. Eqis Capital Management Inc. now owns 2,370 shares of the company’s stock valued at $259,000 after buying an additional 8 shares during the period. Morse Asset Management Inc boosted its holdings in shares of Royal Caribbean Cruises by 0.7% in the 2nd quarter. Morse Asset Management Inc now owns 3,425 shares of the company’s stock valued at $374,000 after buying an additional 25 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of Royal Caribbean Cruises by 1.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,458 shares of the company’s stock valued at $268,000 after buying an additional 28 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Royal Caribbean Cruises by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,463 shares of the company’s stock valued at $1,361,000 after purchasing an additional 35 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in Royal Caribbean Cruises by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 17,863 shares of the company’s stock valued at $1,951,000 after purchasing an additional 58 shares during the last quarter. 71.12% of the stock is owned by institutional investors.

A number of research firms have commented on RCL. Zacks Investment Research downgraded shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. Nomura boosted their target price on shares of Royal Caribbean Cruises from $131.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) raised shares of Royal Caribbean Cruises from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $99.00 to $115.00 in a research report on Wednesday, August 2nd. Deutsche Bank AG lifted their target price on shares of Royal Caribbean Cruises from $102.00 to $114.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Finally, Wedbush reissued an “outperform” rating and issued a $129.00 target price (up from $125.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $123.86.

In other news, CEO Richard D. Fain sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $125.70, for a total transaction of $2,514,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Harri U. Kulovaara sold 7,580 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $119.61, for a total transaction of $906,643.80. Following the transaction, the executive vice president now directly owns 23,493 shares of the company’s stock, valued at $2,809,997.73. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,580 shares of company stock valued at $8,225,444. 15.30% of the stock is owned by company insiders.

Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) traded up $2.30 during trading hours on Monday, reaching $125.48. 1,435,917 shares of the company’s stock were exchanged, compared to its average volume of 1,660,000. Royal Caribbean Cruises Ltd. has a 12-month low of $75.15 and a 12-month high of $128.09. The company has a current ratio of 0.15, a quick ratio of 0.12 and a debt-to-equity ratio of 0.67. The company has a market cap of $26,500.00, a price-to-earnings ratio of 17.28, a P/E/G ratio of 0.74 and a beta of 1.07.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 11th. Investors of record on Friday, September 22nd were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.91%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, September 21st. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 33.29%.

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Royal Caribbean Cruises Company 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).

Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

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