Royal Caribbean Cruises Ltd (NYSE:RCL) Holdings Lifted by SRB Corp

SRB Corp boosted its stake in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) by 13.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,034 shares of the company’s stock after purchasing an additional 728 shares during the quarter. SRB Corp’s holdings in Royal Caribbean Cruises were worth $692,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of RCL. Norges Bank acquired a new position in Royal Caribbean Cruises during the fourth quarter worth about $163,502,000. LSV Asset Management grew its position in Royal Caribbean Cruises by 285.6% during the first quarter. LSV Asset Management now owns 995,221 shares of the company’s stock worth $114,072,000 after buying an additional 737,100 shares during the period. Altshuler Shaham Ltd grew its position in Royal Caribbean Cruises by 857.4% during the fourth quarter. Altshuler Shaham Ltd now owns 746,123 shares of the company’s stock worth $72,892,000 after buying an additional 668,190 shares during the period. Rothschild & Co. Asset Management US Inc. acquired a new position in Royal Caribbean Cruises during the first quarter worth about $62,449,000. Finally, Clark Capital Management Group Inc. grew its position in Royal Caribbean Cruises by 491.6% during the first quarter. Clark Capital Management Group Inc. now owns 442,799 shares of the company’s stock worth $50,754,000 after buying an additional 367,948 shares during the period. Institutional investors own 72.83% of the company’s stock.

Shares of NYSE RCL traded up $0.90 on Friday, hitting $123.37. The company’s stock had a trading volume of 5,814 shares, compared to its average volume of 1,147,987. Royal Caribbean Cruises Ltd has a 12-month low of $89.48 and a 12-month high of $133.60. The company has a market capitalization of $25.68 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 1.11 and a beta of 1.41. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.16 and a quick ratio of 0.14.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.20. Royal Caribbean Cruises had a net margin of 18.60% and a return on equity of 17.23%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the firm earned $1.09 earnings per share. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. On average, analysts forecast that Royal Caribbean Cruises Ltd will post 9.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Tuesday, June 4th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Monday, June 3rd. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 31.60%.

Several brokerages have weighed in on RCL. Wedbush restated an “underweight” rating and set a $145.00 target price (up from $140.00) on shares of Royal Caribbean Cruises in a research report on Thursday, May 2nd. They noted that the move was a valuation call. Nomura lowered their target price on shares of Royal Caribbean Cruises from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $133.00 target price on the stock in a research report on Tuesday, April 9th. Buckingham Research upped their target price on shares of Royal Caribbean Cruises from $148.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Citigroup upped their target price on shares of Royal Caribbean Cruises from $138.00 to $154.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $144.43.

In other Royal Caribbean Cruises news, SVP Henry L. Pujol sold 4,134 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $128.20, for a total value of $529,978.80. Following the sale, the senior vice president now owns 45,342 shares of the company’s stock, valued at $5,812,844.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maritza Gomez Montiel sold 2,700 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $126.49, for a total transaction of $341,523.00. Following the completion of the sale, the director now directly owns 3,081 shares in the company, valued at approximately $389,715.69. The disclosure for this sale can be found here. 13.07% of the stock is owned by corporate insiders.

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Royal Caribbean Cruises Profile

Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 23 nights.

Further Reading: What is the return on assets (ROA) ratio?

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

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