3,000 Shares in Royal Caribbean Cruises Ltd. (RCL) Acquired by BTIM Corp.

BTIM Corp. bought a new stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) during the second quarter, Holdings Channel reports. The fund bought 3,000 shares of the company’s stock, valued at approximately $328,000.

A number of other institutional investors also recently bought and sold shares of RCL. First Quadrant L P CA bought a new position in Royal Caribbean Cruises during the second quarter valued at about $10,725,000. Aperio Group LLC boosted its position in Royal Caribbean Cruises by 6.8% in the second quarter. Aperio Group LLC now owns 52,656 shares of the company’s stock valued at $5,752,000 after buying an additional 3,342 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Royal Caribbean Cruises by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,400 shares of the company’s stock valued at $1,136,000 after buying an additional 100 shares in the last quarter. Spirit of America Management Corp NY boosted its position in Royal Caribbean Cruises by 16.3% in the second quarter. Spirit of America Management Corp NY now owns 5,000 shares of the company’s stock valued at $546,000 after buying an additional 700 shares in the last quarter. Finally, Guild Investment Management Inc. bought a new position in Royal Caribbean Cruises during the second quarter valued at about $2,795,000. Institutional investors and hedge funds own 71.16% of the company’s stock.

Shares of Royal Caribbean Cruises Ltd. (RCL) opened at 115.74 on Tuesday. The firm’s 50-day moving average is $111.21 and its 200-day moving average is $101.45. Royal Caribbean Cruises Ltd. has a 1-year low of $65.10 and a 1-year high of $116.36. The company has a market cap of $24.89 billion, a PE ratio of 17.89 and a beta of 1.06.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results 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 return on equity of 15.91% and a net margin of 16.29%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the company posted $0.57 earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts forecast that Royal Caribbean Cruises Ltd. will post $7.25 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Friday, June 2nd were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Wednesday, May 31st. Royal Caribbean Cruises’s payout ratio is 29.68%.

Royal Caribbean Cruises declared that its Board of Directors has authorized a stock buyback program on Friday, April 28th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 2.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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Several equities analysts have issued reports on the stock. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Royal Caribbean Cruises in a research note on Monday. They set a “neutral” rating on the stock. Bank of America Corporation assumed coverage on shares of Royal Caribbean Cruises in a research note on Monday. They set a “neutral” rating and a $123.00 target price on the stock. J P Morgan Chase & Co upgraded shares of Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and upped their target price for the company from $111.00 to $130.00 in a research note on Thursday, July 20th. Zacks Investment Research cut shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, ValuEngine upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. Royal Caribbean Cruises has a consensus rating of “Buy” and a consensus price target of $106.19.

In other news, EVP Harri U. Kulovaara sold 7,527 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $110.00, for a total transaction of $827,970.00. Following the completion of the transaction, the executive vice president now directly owns 29,667 shares of the company’s stock, valued at approximately $3,263,370. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $107.77, for a total value of $2,155,400.00. Following the transaction, the chief executive officer now directly owns 1,007,741 shares of the company’s stock, valued at $108,604,247.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,527 shares of company stock valued at $5,175,770. Corporate insiders own 15.30% of the company’s stock.

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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