Royal Caribbean Cruises Ltd. $RCL Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S decreased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,877 shares of the company’s stock after selling 1,909 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Royal Caribbean Cruises were worth $17,434,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Personalized Indexing Management LLC lifted its position in Royal Caribbean Cruises by 12.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,766 shares of the company’s stock worth $12,453,000 after purchasing an additional 4,558 shares during the period. California Public Employees Retirement System raised its stake in shares of Royal Caribbean Cruises by 11.1% in the 2nd quarter. California Public Employees Retirement System now owns 433,018 shares of the company’s stock worth $135,595,000 after buying an additional 43,184 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Royal Caribbean Cruises in the 3rd quarter worth $4,806,000. Marion Wealth Management acquired a new stake in shares of Royal Caribbean Cruises in the second quarter valued at $291,000. Finally, Aberdeen Group plc boosted its stake in Royal Caribbean Cruises by 6.3% during the second quarter. Aberdeen Group plc now owns 137,099 shares of the company’s stock valued at $42,802,000 after buying an additional 8,121 shares in the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Down 1.0%

RCL stock opened at $325.44 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.18 and a quick ratio of 0.16. The firm has a market capitalization of $88.75 billion, a P/E ratio of 20.85, a P/E/G ratio of 1.07 and a beta of 1.91. Royal Caribbean Cruises Ltd. has a 52-week low of $164.01 and a 52-week high of $366.50. The company’s 50 day simple moving average is $287.71 and its 200-day simple moving average is $303.87.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Thursday, January 29th. The company reported $2.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.80. The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.28 billion. Royal Caribbean Cruises had a net margin of 23.80% and a return on equity of 45.06%. The company’s revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 EPS. As a group, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, December 26th. Royal Caribbean Cruises’s dividend payout ratio is currently 25.62%.

Royal Caribbean Cruises announced that its board has initiated a share repurchase program on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have commented on RCL. UBS Group dropped their price target on shares of Royal Caribbean Cruises from $353.00 to $304.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Wells Fargo & Company boosted their target price on shares of Royal Caribbean Cruises from $373.00 to $383.00 and gave the stock an “overweight” rating in a report on Sunday. Stifel Nicolaus increased their target price on shares of Royal Caribbean Cruises from $380.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. lifted their price target on shares of Royal Caribbean Cruises from $368.00 to $371.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Truist Financial cut their price objective on Royal Caribbean Cruises from $321.00 to $318.00 and set a “hold” rating for the company in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and an average target price of $347.81.

About Royal Caribbean Cruises

Royal Caribbean Cruises (NYSE: RCL), operating as part of the Royal Caribbean Group, is a global cruise company that develops, markets and operates passenger cruise ships. The company operates multiple consumer-facing cruise brands that offer short- and long-duration itineraries and a range of onboard experiences. Its core activities include itineraries and voyage operations, guest services and hospitality, onboard food and beverage, entertainment and recreation programming, and the commercial activities needed to sell and support cruises through both direct and travel?agent channels.

Royal Caribbean’s ships serve a broad set of geographies worldwide, regularly deploying vessels in the Caribbean, North America (including Alaska), Europe, Asia, Australia and South America.