Rockefeller Financial Services Inc. cut its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,024,058 shares of the company’s stock after selling 38,041 shares during the period. Royal Caribbean Cruises comprises 2.2% of Rockefeller Financial Services Inc.’s portfolio, making the stock its 10th largest position. Rockefeller Financial Services Inc. owned 0.48% of Royal Caribbean Cruises worth $111,858,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Prudential Financial Inc. increased its stake in Royal Caribbean Cruises by 17.8% in the first quarter. Prudential Financial Inc. now owns 477,787 shares of the company’s stock worth $46,875,000 after buying an additional 72,120 shares during the period. Dynamic Capital Management Ltd boosted its position in shares of Royal Caribbean Cruises by 55.5% in the first quarter. Dynamic Capital Management Ltd now owns 35,502 shares of the company’s stock valued at $3,483,000 after buying an additional 12,675 shares in the last quarter. Bank of The West boosted its position in shares of Royal Caribbean Cruises by 0.7% in the first quarter. Bank of The West now owns 34,275 shares of the company’s stock valued at $3,363,000 after buying an additional 222 shares in the last quarter. Baltimore Washington Financial Advisors Inc. boosted its position in shares of Royal Caribbean Cruises by 8.2% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 65,260 shares of the company’s stock valued at $5,353,000 after buying an additional 4,950 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Royal Caribbean Cruises during the first quarter worth approximately $1,108,000. Institutional investors own 71.16% of the company’s stock.
Shares of Royal Caribbean Cruises Ltd. (RCL) traded up 0.09% during trading on Friday, hitting $113.39. The stock had a trading volume of 895,344 shares. Royal Caribbean Cruises Ltd. has a one year low of $65.10 and a one year high of $115.63. The stock has a market cap of $24.39 billion, a price-to-earnings ratio of 17.53 and a beta of 1.06. The stock’s 50-day moving average price is $111.43 and its 200 day moving average price is $101.85.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Friday, April 28th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.07. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Royal Caribbean Cruises had a net margin of 16.29% and a return on equity of 15.91%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. On average, equities analysts forecast that Royal Caribbean Cruises Ltd. will post $7.26 EPS for the current year.
Royal Caribbean Cruises announced that its board has approved a share buyback plan on Friday, April 28th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Friday, June 2nd were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.69%. Royal Caribbean Cruises’s dividend payout ratio is 29.68%.
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Several analysts recently commented on RCL shares. Stifel Nicolaus boosted their price target on Royal Caribbean Cruises from $109.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, April 4th. Wedbush boosted their price objective on Royal Caribbean Cruises from $106.00 to $117.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 25th. Goldman Sachs Group, Inc. (The) increased their target price on Royal Caribbean Cruises from $90.00 to $94.00 and gave the stock a “sell” rating in a research note on Monday, May 1st. Deutsche Bank AG dropped their price objective on Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating on the stock in a report on Tuesday, May 2nd. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $119.50 target price (up from $117.50) on shares of Royal Caribbean Cruises in a research report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $106.19.
In related news, EVP Harri U. Kulovaara sold 7,527 shares of Royal Caribbean Cruises stock in a transaction dated 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 of the company’s stock, valued at approximately $3,263,370. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $107.77, for a total transaction of $2,155,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,007,741 shares of the company’s stock, valued at approximately $108,604,247.57. The disclosure for this sale can be found here. Insiders sold a total of 47,527 shares of company stock worth $5,175,770 over the last quarter. Company 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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