Louisiana State Employees Retirement System boosted its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,400 shares of the company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Royal Caribbean Cruises were worth $1,136,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Prudential Financial Inc. increased its stake in shares of Royal Caribbean Cruises by 17.8% in the first quarter. Prudential Financial Inc. now owns 477,787 shares of the company’s stock valued at $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 position in shares of Royal Caribbean Cruises during the first quarter valued at approximately $1,108,000. Institutional investors and hedge funds own 71.67% of the company’s stock.
Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) traded down 0.08% during trading on Friday, hitting $117.22. 1,787,406 shares of the stock were exchanged. The stock has a market cap of $25.22 billion, a PE ratio of 16.45 and a beta of 1.06. Royal Caribbean Cruises Ltd. has a 52-week low of $65.10 and a 52-week high of $121.47. The firm has a 50 day moving average of $113.22 and a 200-day moving average of $104.26.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $1.09 EPS. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post $7.44 earnings per share for the current fiscal year.
Royal Caribbean Cruises announced that its Board of Directors has authorized a share buyback plan on Friday, April 28th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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Several research analysts have recently commented on RCL shares. Zacks Investment Research raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a report on Wednesday, June 7th. ValuEngine raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Goldman Sachs Group, Inc. (The) raised their target price on shares of Royal Caribbean Cruises from $90.00 to $94.00 and gave the company a “sell” rating in a research report on Monday, May 1st. Deutsche Bank AG lifted their price target on shares of Royal Caribbean Cruises from $102.00 to $114.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Finally, Wedbush lifted their price target 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $117.23.
In other Royal Caribbean Cruises news, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $109.62, for a total value of $2,192,400.00. Following the completion of the sale, the chief executive officer now owns 967,741 shares in the company, valued at $106,083,768.42. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Lawrence R. Pimentel sold 17,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $120.50, for a total value of $2,048,500.00. Following the completion of the sale, the chief executive officer now 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. Over the last ninety days, insiders sold 452,499 shares of company stock valued at $52,583,811. 15.30% of the stock is currently owned by corporate 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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