PGGM Investments purchased a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 108,017 shares of the company’s stock, valued at approximately $7,253,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in shares of Royal Caribbean Cruises by 0.8% in the first quarter. State Street Corp now owns 6,687,292 shares of the company’s stock valued at $549,355,000 after buying an additional 50,919 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of Royal Caribbean Cruises by 15.6% in the first quarter. Primecap Management Co. CA now owns 5,869,872 shares of the company’s stock worth $482,210,000 after buying an additional 792,071 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Royal Caribbean Cruises by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,437,215 shares of the company’s stock worth $364,517,000 after buying an additional 100,616 shares during the period. Prudential PLC increased its stake in shares of Royal Caribbean Cruises by 39.7% in the first quarter. Prudential PLC now owns 1,389,000 shares of the company’s stock worth $114,106,000 after buying an additional 394,700 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Royal Caribbean Cruises by 1.2% in the first quarter. Geode Capital Management LLC now owns 1,385,668 shares of the company’s stock worth $113,602,000 after buying an additional 16,348 shares during the period. Institutional investors own 75.04% of the company’s stock.
Royal Caribbean Cruises Ltd. (NYSE:RCL) traded up 0.94% during midday trading on Friday, hitting $74.95. The company had a trading volume of 1,932,554 shares. Royal Caribbean Cruises Ltd. has a 52 week low of $64.21 and a 52 week high of $103.40. The company has a market capitalization of $16.13 billion, a P/E ratio of 21.39 and a beta of 1.73. The stock has a 50 day moving average price of $69.99 and a 200 day moving average price of $73.74.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. Royal Caribbean Cruises had a return on equity of 14.76% and a net margin of 9.05%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the business posted $0.84 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post $6.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Thursday, September 29th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, September 27th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.38. This represents a $1.92 dividend on an annualized basis and a yield of 2.56%. Royal Caribbean Cruises’s dividend payout ratio is 55.01%.
RCL has been the subject of a number of research analyst reports. Sterne Agee CRT initiated coverage on Royal Caribbean Cruises in a research report on Tuesday, June 7th. They set a “neutral” rating and a $83.00 price target for the company. Nomura reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research report on Wednesday, June 15th. Zacks Investment Research upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research report on Wednesday, June 29th. Stifel Nicolaus dropped their price target on Royal Caribbean Cruises from $99.00 to $94.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $100.00 price target on shares of Royal Caribbean Cruises in a research report on Wednesday, August 3rd. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Royal Caribbean Cruises has a consensus rating of “Buy” and an average price target of $92.86.
In related news, Director Vagn O. Sorensen acquired 1,100 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were acquired at an average cost of $70.50 per share, for a total transaction of $77,550.00. Following the completion of the transaction, the director now directly owns 18,871 shares in the company, valued at approximately $1,330,405.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael W. Bayley sold 12,183 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $71.07, for a total value of $865,845.81. Following the sale, the chief executive officer now owns 82,943 shares in the company, valued at $5,894,759.01. The disclosure for this sale can be found here. Company insiders own 16.80% of the company’s stock.
About Royal Caribbean Cruises
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns various brands, such as Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisieres de France and joint venture interest in TUI Cruises. It operates approximately 23 ships with an aggregate capacity of approximately 68,600 berths under its Royal Caribbean International brand, offering cruise itineraries that range from 2 to 24 nights.
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