BlackRock Inc. Increases Position in Royal Caribbean Cruises Ltd. (RCL)

BlackRock Inc. raised its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3,290.6% during the first quarter, Holdings Channel reports. The fund owned 10,359,358 shares of the company’s stock after buying an additional 10,053,823 shares during the period. BlackRock Inc.’s holdings in Royal Caribbean Cruises were worth $1,016,356,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RCL. Prudential Financial Inc. boosted its position in 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 in the last quarter. Bank of The West boosted its position in 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 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. State of Alaska Department of Revenue purchased a new position in Royal Caribbean Cruises during the first quarter valued at $1,108,000. Finally, Chevy Chase Trust Holdings Inc. boosted its position in Royal Caribbean Cruises by 3.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 144,593 shares of the company’s stock valued at $14,186,000 after buying an additional 4,735 shares in the last quarter. 71.15% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

Royal Caribbean Cruises Ltd. (NYSE RCL) traded down 1.32% during mid-day trading on Tuesday, reaching $111.80. The company’s stock had a trading volume of 416,428 shares. Royal Caribbean Cruises Ltd. has a 52-week low of $64.95 and a 52-week high of $114.50. The firm has a 50 day moving average price of $109.44 and a 200 day moving average price of $96.79. The company has a market cap of $24.05 billion, a price-to-earnings ratio of 17.28 and a beta of 1.08.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Friday, April 28th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.02 billion. Royal Caribbean Cruises had a return on equity of 15.91% and a net margin of 16.29%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post $7.22 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Friday, June 2nd will be paid a dividend of $0.48 per share. The ex-dividend date is Wednesday, May 31st. This represents a $1.92 dividend on an annualized basis and a yield of 1.69%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 29.68%.

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RCL has been the subject of several recent research reports. Deutsche Bank AG reduced their price objective on Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating for the company in a research report on Tuesday, May 2nd. Wedbush upped their price objective on Royal Caribbean Cruises from $106.00 to $117.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 25th. Stifel Nicolaus upped their price objective on Royal Caribbean Cruises from $109.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, April 4th. Goldman Sachs Group, Inc. (The) upped their price objective on Royal Caribbean Cruises from $90.00 to $94.00 and gave the stock a “sell” rating in a research report on Monday, May 1st. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $119.50 price objective (up from $117.50) on shares of Royal Caribbean Cruises in a research report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have assigned a buy rating to the company. Royal Caribbean Cruises currently has an average rating of “Buy” and a consensus target price of $102.31.

In other news, EVP Harri U. Kulovaara sold 7,527 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $110.00, for a total value of $827,970.00. Following the transaction, the executive vice president now owns 29,667 shares in the company, valued at approximately $3,263,370. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $107.77, for a total value of $2,155,400.00. Following the completion of the transaction, the chief executive officer now owns 1,007,741 shares in the company, valued at approximately $108,604,247.57. The disclosure for this sale can be found here. Insiders have sold a total of 47,527 shares of company stock valued at $4,881,770 in the last quarter. Company insiders own 15.30% of the company’s stock.

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).

Want to see what other hedge funds are holding RCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Caribbean Cruises Ltd. (NYSE:RCL).

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