Oakbrook Investments LLC Acquires 2,120 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Oakbrook Investments LLC raised its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 18.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,670 shares of the company’s stock after buying an additional 2,120 shares during the period. Oakbrook Investments LLC’s holdings in Royal Caribbean Cruises were worth $1,493,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Baltimore Washington Financial Advisors Inc. raised its position in 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 worth $5,353,000 after buying an additional 4,950 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Royal Caribbean Cruises by 8.6% in the fourth quarter. Teachers Advisors LLC now owns 235,140 shares of the company’s stock valued at $19,291,000 after buying an additional 18,638 shares in the last quarter. Kentucky Retirement Systems purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at about $996,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at about $445,000. Finally, Macquarie Group Ltd. raised its position in shares of Royal Caribbean Cruises by 162.9% in the fourth quarter. Macquarie Group Ltd. now owns 62,100 shares of the company’s stock valued at $5,094,000 after buying an additional 38,483 shares in the last quarter. Institutional investors and hedge funds own 71.23% of the company’s stock.

Royal Caribbean Cruises Ltd. (NYSE:RCL) traded up 3.4716% during trading on Tuesday, reaching $116.9953. The company’s stock had a trading volume of 2,544,161 shares. The stock’s 50-day moving average is $111.54 and its 200 day moving average is $102.49. Royal Caribbean Cruises Ltd. has a 12 month low of $65.10 and a 12 month high of $120.00. The company has a market cap of $25.16 billion, a P/E ratio of 18.0827 and a beta of 1.06.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.04. Royal Caribbean Cruises had a net margin of 16.29% and a return on equity of 15.91%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. On average, equities analysts forecast that Royal Caribbean Cruises Ltd. will post $7.26 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its board has authorized a stock repurchase program on Friday, April 28th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The firm also recently announced 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. This represents a $1.92 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Wednesday, May 31st. Royal Caribbean Cruises’s payout ratio is presently 29.68%.

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Several equities analysts recently issued reports on RCL shares. Stifel Nicolaus boosted their price target on Royal Caribbean Cruises from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, April 4th. Wedbush boosted their price target on Royal Caribbean Cruises from $106.00 to $117.00 and gave the company an “outperform” rating in a research note on Tuesday, April 25th. Goldman Sachs Group, Inc. (The) boosted their price target on Royal Caribbean Cruises from $90.00 to $94.00 and gave the company a “sell” rating in a research note on Monday, May 1st. Deutsche Bank AG decreased 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 reaffirmed an “outperform” rating and set a $119.50 price objective (up from $117.50) on shares of Royal Caribbean Cruises in a report on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $106.19.

In other news, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $109.62, for a total transaction of $2,192,400.00. Following the completion of the sale, the chief executive officer now directly owns 967,741 shares of the company’s stock, valued at $106,083,768.42. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 15.30% of the company’s stock.

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).