American International Group Inc. cut its position in Royal Caribbean Cruises Ltd (NYSE:RCL) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,267 shares of the company’s stock after selling 495 shares during the period. American International Group Inc.’s holdings in Royal Caribbean Cruises were worth $6,501,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. NEXT Financial Group Inc raised its stake in shares of Royal Caribbean Cruises by 25.0% in the first quarter. NEXT Financial Group Inc now owns 1,000 shares of the company’s stock worth $107,000 after buying an additional 200 shares in the last quarter. Advisors Preferred LLC bought a new stake in shares of Royal Caribbean Cruises during the first quarter worth $103,000. Whittier Trust Co. raised its stake in shares of Royal Caribbean Cruises by 24.4% in the first quarter. Whittier Trust Co. now owns 1,266 shares of the company’s stock worth $124,000 after buying an additional 248 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Royal Caribbean Cruises by 447.1% in the first quarter. Acadian Asset Management LLC now owns 1,778 shares of the company’s stock worth $174,000 after buying an additional 1,453 shares in the last quarter. Finally, Martingale Asset Management L P bought a new stake in shares of Royal Caribbean Cruises during the first quarter worth $208,000. 74.32% of the stock is owned by institutional investors.
Royal Caribbean Cruises Ltd (RCL) traded up 1.17% on Wednesday, reaching $112.15. 1,273,343 shares of the company’s stock traded hands. The stock’s 50 day moving average is $106.17 and its 200 day moving average is $94.92. The firm has a market cap of $24.12 billion, a price-to-earnings ratio of 17.33 and a beta of 1.23. Royal Caribbean Cruises Ltd has a 52-week low of $64.95 and a 52-week high of $114.50.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Friday, April 28th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.07. Royal Caribbean Cruises had a net margin of 15.10% and a return on equity of 15.89%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the company earned $0.57 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that Royal Caribbean Cruises Ltd will post $7.21 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Friday, June 2nd will be issued a $0.48 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.71%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 32.32%.
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RCL has been the subject of several recent research reports. Zacks Investment Research raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a research note on Wednesday. Stifel Nicolaus increased their target price on shares of Royal Caribbean Cruises from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Goldman Sachs Group Inc increased their target price on shares of Royal Caribbean Cruises from $90.00 to $94.00 and gave the company a “sell” rating in a research note on Monday, May 1st. Wedbush increased their target price on shares of Royal Caribbean Cruises from $106.00 to $117.00 and gave the company an “outperform” rating in a research note on Tuesday, April 25th. Finally, Wells Fargo & Co reissued an “outperform” rating and set a $119.50 target price (up from $117.50) on shares of Royal Caribbean Cruises in a research note on Tuesday, May 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $101.49.
In other news, CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $94.92, for a total value of $1,898,400.00. Following the sale, the chief executive officer now directly owns 1,027,741 shares in the company, valued at $97,553,175.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Harri U. Kulovaara sold 7,527 shares of Royal Caribbean Cruises stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $110.00, for a total transaction of $827,970.00. Following the completion of the sale, the executive vice president now owns 29,667 shares in the company, valued at $3,263,370. The disclosure for this sale can be found here. Insiders sold 67,527 shares of company stock worth $6,817,770 over the last quarter. 16.80% of the stock is owned by corporate insiders.
About Royal Caribbean Cruises
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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