Canada Pension Plan Investment Board Boosts Stake in Royal Caribbean Cruises Ltd. (RCL)

Canada Pension Plan Investment Board increased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 645.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,849 shares of the company’s stock after buying an additional 266,574 shares during the period. Canada Pension Plan Investment Board’s holdings in Royal Caribbean Cruises were worth $33,626,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. Advisors Preferred LLC bought a new position in shares of Royal Caribbean Cruises during the first quarter worth about $103,000. NEXT Financial Group Inc raised its position 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 during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Royal Caribbean Cruises during the first quarter worth about $119,000. Whittier Trust Co. raised its position 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 during the period. Finally, Acadian Asset Management LLC raised its position 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 during the period. 71.67% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Ltd. (RCL) opened at 117.22 on Friday. The firm’s 50-day moving average is $113.22 and its 200-day moving average is $104.26. Royal Caribbean Cruises Ltd. has a 52-week low of $65.10 and a 52-week high of $121.47. The firm has a market capitalization of $25.22 billion, a P/E ratio of 16.45 and a beta of 1.06.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.09 earnings per share. On average, equities analysts expect that Royal Caribbean Cruises Ltd. will post $7.44 earnings per share for the current year.

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

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A number of equities analysts recently issued reports on the stock. Nomura boosted their target price on shares of Royal Caribbean Cruises from $131.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) raised shares of Royal Caribbean Cruises from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $99.00 to $115.00 in a research report on Wednesday, August 2nd. Zacks Investment Research raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a research report on Friday, August 4th. Deutsche Bank AG dropped their target price on shares of Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating on the stock in a research report on Tuesday, May 2nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $129.00 target price (up previously from $125.00) on shares of Royal Caribbean Cruises in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nineteen have issued a buy rating to the company’s stock. Royal Caribbean Cruises presently has a consensus rating of “Buy” and an average price target of $117.23.

In related news, Director Bernt Reitan sold 4,793 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $117.22, for a total value of $561,835.46. Following the transaction, the director now directly owns 7,862 shares of the company’s stock, valued at $921,583.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Adam M. Goldstein sold 60,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $117.24, for a total value of $7,034,400.00. Following the completion of the transaction, the chief operating officer now directly owns 191,252 shares in the company, valued at $22,422,384.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 452,499 shares of company stock worth $52,583,811. 15.30% of the stock is owned by 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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Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

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