Rockefeller Financial Services Inc. lowered its position in 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 firm owned 1,024,058 shares of the company’s stock after selling 38,041 shares during the period. Royal Caribbean Cruises comprises about 2.2% of Rockefeller Financial Services Inc.’s portfolio, making the stock its 10th largest position. Rockefeller Financial Services Inc. owned about 0.48% of Royal Caribbean Cruises worth $111,858,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of RCL. BlackRock Inc. raised its stake in Royal Caribbean Cruises by 3,290.6% in the first quarter. BlackRock Inc. now owns 10,359,358 shares of the company’s stock worth $1,016,356,000 after buying an additional 10,053,823 shares during the last quarter. Vanguard Group Inc. raised its stake in Royal Caribbean Cruises by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,504,950 shares of the company’s stock worth $1,619,301,000 after buying an additional 555,260 shares during the last quarter. Wells Fargo & Company MN raised its stake in Royal Caribbean Cruises by 50.6% in the first quarter. Wells Fargo & Company MN now owns 1,454,631 shares of the company’s stock worth $142,714,000 after buying an additional 488,740 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Royal Caribbean Cruises by 115.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 845,673 shares of the company’s stock worth $82,969,000 after buying an additional 452,620 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in Royal Caribbean Cruises by 474.4% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 382,883 shares of the company’s stock worth $37,563,000 after buying an additional 316,224 shares during the last quarter. 71.67% of the stock is currently owned by hedge funds and other institutional investors.
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 12-month low of $65.10 and a 12-month high of $121.47. The firm has a market cap of $25.22 billion, a P/E ratio of 16.45 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 (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. The firm had revenue of $2.20 billion during 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%. Royal Caribbean Cruises’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 EPS. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post $7.44 earnings per share for the current year.
Royal Caribbean Cruises declared that its Board of Directors has authorized a share buyback program on Friday, April 28th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
A number of equities research analysts have weighed in on RCL shares. Zacks Investment Research lowered shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Deutsche Bank AG reduced 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 report on Tuesday, May 2nd. Wedbush boosted their target price on shares of Royal Caribbean Cruises from $106.00 to $117.00 and gave the stock an “outperform” rating in a report on Tuesday, April 25th. Goldman Sachs Group, Inc. (The) boosted their target price on shares of Royal Caribbean Cruises from $90.00 to $94.00 and gave the stock a “sell” rating in a report on Monday, May 1st. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $119.50 price objective (up from $117.50) on shares of Royal Caribbean Cruises in a research note on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $117.23.
In other news, COO Adam M. Goldstein sold 120,000 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $118.21, for a total value of $14,185,200.00. Following the completion of the transaction, the chief operating officer now owns 191,252 shares of the company’s stock, valued at approximately $22,607,898.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Lawrence R. Pimentel sold 17,000 shares of Royal Caribbean Cruises stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $120.50, for a total value of $2,048,500.00. Following the completion of the transaction, the chief executive officer now directly owns 20,045 shares of the company’s stock, valued at approximately $2,415,422.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 452,499 shares of company stock valued at $52,583,811. 15.30% of the stock is owned by insiders.
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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