British Columbia Investment Management Corp lowered its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 11.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 105,490 shares of the company’s stock after selling 13,648 shares during the period. British Columbia Investment Management Corp’s holdings in Royal Caribbean Cruises were worth $7,906,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RCL. Financial Architects Inc boosted its position in shares of Royal Caribbean Cruises by 3,400.0% in the second quarter. Financial Architects Inc now owns 3,500 shares of the company’s stock worth $235,000 after buying an additional 3,400 shares during the period. Rothschild Investment Corp IL raised its stake in shares of Royal Caribbean Cruises by 24.6% in the second quarter. Rothschild Investment Corp IL now owns 93,575 shares of the company’s stock worth $6,284,000 after buying an additional 18,500 shares in the last quarter. CIBC World Markets Inc. raised its stake in shares of Royal Caribbean Cruises by 97.2% in the second quarter. CIBC World Markets Inc. now owns 7,100 shares of the company’s stock worth $477,000 after buying an additional 3,500 shares in the last quarter. Capital Management Corp VA bought a new stake in shares of Royal Caribbean Cruises during the second quarter worth $3,070,000. Finally, First National Bank of Omaha raised its stake in shares of Royal Caribbean Cruises by 3.6% in the second quarter. First National Bank of Omaha now owns 31,528 shares of the company’s stock worth $2,118,000 after buying an additional 1,095 shares in the last quarter. 75.57% of the stock is currently owned by institutional investors.

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

Royal Caribbean Cruises Ltd. (NYSE:RCL) traded down 2.01% during midday trading on Wednesday, hitting $81.25. 1,301,411 shares of the stock traded hands. The stock’s 50-day moving average price is $76.16 and its 200-day moving average price is $73.15. The stock has a market capitalization of $17.43 billion, a P/E ratio of 14.37 and a beta of 1.26. Royal Caribbean Cruises Ltd. has a 52 week low of $64.21 and a 52 week high of $103.40.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Friday, October 28th. The company reported $3.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.10 by $0.10. Royal Caribbean Cruises had a net margin of 14.48% and a return on equity of 15.29%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm earned $2.84 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities research analysts expect that Royal Caribbean Cruises Ltd. will post $6.07 EPS for the current fiscal year.

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A number of analysts have weighed in on the stock. Wedbush set a $88.00 target price on shares of Royal Caribbean Cruises and gave the company a “buy” rating in a research report on Monday, November 14th. Deutsche Bank AG restated a “hold” rating and issued a $81.00 target price on shares of Royal Caribbean Cruises in a research report on Monday, October 31st. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 1st. Berenberg Bank restated a “buy” rating and issued a $100.00 target price on shares of Royal Caribbean Cruises in a research report on Monday, November 7th. Finally, Macquarie assumed coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, October 4th. They issued an “outperform” rating and a $88.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $90.57.

In other Royal Caribbean Cruises news, Director Bernt Reitan sold 8,691 shares of the stock in a transaction on Monday, November 7th. The shares were sold at an average price of $76.53, for a total transaction of $665,122.23. Following the completion of the sale, the director now owns 19,768 shares of the company’s stock, valued at approximately $1,512,845.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael W. Bayley sold 6,767 shares of the firm’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $76.57, for a total transaction of $518,149.19. Following the completion of the sale, the chief executive officer now directly owns 76,176 shares of the company’s stock, valued at $5,832,796.32. 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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