Suntrust Banks Inc. raised its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 0.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,578 shares of the company’s stock after acquiring an additional 8 shares during the period. Suntrust Banks Inc.’s holdings in Royal Caribbean Cruises were worth $499,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Bluestein R H & Co. acquired a new stake in Royal Caribbean Cruises in the 2nd quarter valued at about $328,000. Quantbot Technologies LP raised its holdings in Royal Caribbean Cruises by 61.9% in the 2nd quarter. Quantbot Technologies LP now owns 11,518 shares of the company’s stock valued at $1,258,000 after acquiring an additional 4,403 shares during the last quarter. California Public Employees Retirement System raised its holdings in Royal Caribbean Cruises by 6.4% in the 2nd quarter. California Public Employees Retirement System now owns 329,200 shares of the company’s stock valued at $35,959,000 after acquiring an additional 19,700 shares during the last quarter. MML Investors Services LLC raised its holdings in Royal Caribbean Cruises by 10.8% in the 2nd quarter. MML Investors Services LLC now owns 3,099 shares of the company’s stock valued at $339,000 after acquiring an additional 302 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Royal Caribbean Cruises by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 17,178,558 shares of the company’s stock valued at $1,876,413,000 after acquiring an additional 673,608 shares during the last quarter. Institutional investors own 71.51% of the company’s stock.
A number of research firms have commented on RCL. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a report on Friday, September 1st. BidaskClub upgraded shares of Royal Caribbean Cruises from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. UBS AG reiterated a “buy” rating and issued a $131.00 price objective (up previously from $112.00) on shares of Royal Caribbean Cruises in a report on Tuesday, August 8th. Wedbush reiterated an “outperform” rating and issued a $129.00 price objective (up previously from $125.00) on shares of Royal Caribbean Cruises in a report on Tuesday, August 8th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Royal Caribbean Cruises to a “sell” rating in a report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $119.73.
In other news, CEO Richard D. Fain sold 210,706 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $115.83, for a total value of $24,406,075.98. Following the completion of the transaction, the chief executive officer now owns 967,741 shares of the company’s stock, valued at $112,093,440.03. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Harri U. Kulovaara sold 7,580 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $119.61, for a total transaction of $906,643.80. Following the completion of the transaction, 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 three months, insiders sold 480,079 shares of company stock valued at $56,139,855. Company insiders own 15.30% of the company’s stock.
Shares of Royal Caribbean Cruises Ltd. (NYSE RCL) opened at 124.80 on Wednesday. The firm has a market cap of $26.85 billion, a P/E ratio of 17.51 and a beta of 0.99. The stock’s 50 day moving average is $120.03 and its 200-day moving average is $111.65. Royal Caribbean Cruises Ltd. has a one year low of $67.53 and a one year high of $126.07.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The business had revenue of $2.20 billion during 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 was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.09 earnings per share. Analysts anticipate that Royal Caribbean Cruises Ltd. will post $7.43 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 11th. Stockholders of record on Friday, September 22nd will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, September 21st. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. Royal Caribbean Cruises’s payout ratio is currently 33.71%.
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).
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