BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in Royal Caribbean Cruises Ltd (NYSE:RCL) by 15.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 45,633 shares of the company’s stock after selling 8,584 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Royal Caribbean Cruises were worth $5,230,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in RCL. Keybank National Association OH boosted its stake in Royal Caribbean Cruises by 50.6% in the first quarter. Keybank National Association OH now owns 6,698 shares of the company’s stock valued at $768,000 after acquiring an additional 2,250 shares during the period. Clark Capital Management Group Inc. boosted its stake in Royal Caribbean Cruises by 491.6% in the first quarter. Clark Capital Management Group Inc. now owns 442,799 shares of the company’s stock valued at $50,754,000 after acquiring an additional 367,948 shares during the period. TrinityPoint Wealth LLC boosted its stake in Royal Caribbean Cruises by 338.2% in the first quarter. TrinityPoint Wealth LLC now owns 16,500 shares of the company’s stock valued at $1,891,000 after acquiring an additional 12,735 shares during the period. 361 Capital LLC acquired a new position in Royal Caribbean Cruises in the first quarter valued at approximately $636,000. Finally, Csenge Advisory Group acquired a new position in Royal Caribbean Cruises in the first quarter valued at approximately $663,000. 72.41% of the stock is owned by hedge funds and other institutional investors.
RCL has been the subject of a number of research reports. Zacks Investment Research upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a research note on Monday, February 4th. Citigroup lifted their target price on Royal Caribbean Cruises from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Buckingham Research lifted their target price on Royal Caribbean Cruises from $148.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Deutsche Bank restated a “buy” rating and issued a $140.00 target price on shares of Royal Caribbean Cruises in a research note on Wednesday, May 1st. Finally, Wells Fargo & Co boosted their price objective on Royal Caribbean Cruises from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, February 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $144.57.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.20. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.38 billion. Royal Caribbean Cruises had a return on equity of 17.23% and a net margin of 18.60%. The business’s revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share. On average, analysts predict that Royal Caribbean Cruises Ltd will post 9.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.80 annualized dividend and a dividend yield of 2.26%. Royal Caribbean Cruises’s dividend payout ratio is presently 31.60%.
In other Royal Caribbean Cruises news, SVP Bradley H. Stein sold 5,909 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $119.27, for a total value of $704,766.43. Following the completion of the sale, the senior vice president now directly owns 19,874 shares in the company, valued at $2,370,371.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maritza Gomez Montiel sold 2,700 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $126.49, for a total value of $341,523.00. Following the completion of the sale, the director now owns 3,081 shares of the company’s stock, valued at $389,715.69. The disclosure for this sale can be found here. Insiders sold 13,253 shares of company stock valued at $1,636,841 over the last 90 days. 13.07% of the stock is currently owned by insiders.
About Royal Caribbean Cruises
Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 23 nights.
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