Prudential PLC Lowers Position in Royal Caribbean Cruises Ltd. (RCL)
Prudential PLC lessened its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 13.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,408,500 shares of the company’s stock after selling 210,100 shares during the period. Prudential PLC owned 0.65% of Royal Caribbean Cruises worth $153,850,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of RCL. TLP Group LLC purchased a new stake in Royal Caribbean Cruises during the 2nd quarter valued at approximately $105,000. Acrospire Investment Management LLC lifted its position in Royal Caribbean Cruises by 25.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock worth $109,000 after acquiring an additional 200 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Royal Caribbean Cruises during the 1st quarter worth approximately $119,000. NEXT Financial Group Inc grew its stake in shares of Royal Caribbean Cruises by 9.0% in the 2nd quarter. NEXT Financial Group Inc now owns 1,090 shares of the company’s stock valued at $119,000 after purchasing an additional 90 shares during the last quarter. Finally, Pinebridge Investments L.P. purchased a new position in shares of Royal Caribbean Cruises in the 2nd quarter valued at approximately $121,000. Hedge funds and other institutional investors own 71.51% of the company’s stock.
Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) traded down 0.474% on Tuesday, hitting $118.555. The stock had a trading volume of 430,357 shares. The firm has a market cap of $25.50 billion, a P/E ratio of 16.632 and a beta of 0.99. The company’s 50-day moving average price is $119.56 and its 200 day moving average price is $110.58. Royal Caribbean Cruises Ltd. has a 12-month low of $67.53 and a 12-month high of $125.00.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. On average, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post $7.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Friday, September 22nd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.01%. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, September 21st. Royal Caribbean Cruises’s payout ratio is presently 33.71%.
In other news, CEO Richard D. Fain sold 210,706 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $115.83, for a total transaction of $24,406,075.98. Following the completion of the sale, the chief executive officer now directly owns 967,741 shares in the company, valued at approximately $112,093,440.03. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $121.29, for a total value of $2,425,800.00. Following the completion of the sale, the chief executive officer now directly owns 927,741 shares of the company’s stock, valued at approximately $112,525,705.89. The disclosure for this sale can be found here. Insiders have sold 480,079 shares of company stock worth $56,139,855 over the last three months. 15.30% of the stock is owned by insiders.
A number of research analysts have recently issued reports on RCL shares. Zacks Investment Research raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $136.00 target price on the stock in a report on Friday, September 1st. BidaskClub raised Royal Caribbean Cruises from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. UBS AG reaffirmed a “buy” rating and set a $131.00 price target (up from $112.00) on shares of Royal Caribbean Cruises in a report on Tuesday, August 8th. Wedbush reiterated an “outperform” rating and issued a $129.00 price objective (up from $125.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, August 8th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Royal Caribbean Cruises to a “sell” rating in a research report on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $118.14.
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Royal Caribbean Cruises 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).
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