Commerce Bank increased its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,699 shares of the company’s stock after buying an additional 66 shares during the period. Commerce Bank’s holdings in Royal Caribbean Cruises were worth $513,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. NEXT Financial Group Inc raised its stake in shares of Royal Caribbean Cruises by 25.0% during 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 last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Royal Caribbean Cruises during the first quarter worth approximately $119,000. Acadian Asset Management LLC raised its stake in shares of Royal Caribbean Cruises by 447.1% during 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 last quarter. First American Bank bought a new stake in shares of Royal Caribbean Cruises during the second quarter worth approximately $205,000. Finally, Martingale Asset Management L P bought a new stake in shares of Royal Caribbean Cruises during the first quarter worth approximately $208,000. 71.60% of the stock is owned by institutional investors and hedge funds.
In other Royal Caribbean Cruises news, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $121.29, for a total transaction of $2,425,800.00. Following the completion of the sale, the chief executive officer now owns 927,741 shares in the company, valued at approximately $112,525,705.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Adam M. Goldstein sold 120,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $118.21, for a total transaction of $14,185,200.00. Following the sale, the chief operating officer now owns 191,252 shares of the company’s stock, valued at approximately $22,607,898.92. The disclosure for this sale can be found here. Insiders have sold a total of 480,079 shares of company stock valued at $56,139,855 in the last 90 days. 15.30% of the stock is currently owned by company insiders.
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Shares of Royal Caribbean Cruises Ltd. (RCL) traded down 2.31% on Friday, reaching $120.70. 1,171,860 shares of the company traded hands. Royal Caribbean Cruises Ltd. has a one year low of $65.45 and a one year high of $125.00. The company has a market capitalization of $25.96 billion, a PE ratio of 16.93 and a beta of 1.03. The firm has a 50-day moving average price of $119.51 and a 200 day moving average price of $108.56.
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 business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.19 billion. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. Royal Caribbean Cruises’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.09 EPS. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post $7.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 11th. Shareholders of record on Friday, September 22nd will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, September 21st. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. Royal Caribbean Cruises’s payout ratio is 26.97%.
Several equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub downgraded shares of Royal Caribbean Cruises from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. UBS AG reaffirmed a “buy” rating and issued a $131.00 target price (up previously from $112.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, August 8th. Buckingham Research upped their target price on shares of Royal Caribbean Cruises to $149.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $134.00 target price on shares of Royal Caribbean Cruises in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $118.49.
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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