Red Spruce Capital LLC Takes Position in Royal Caribbean Cruises Ltd (NYSE:RCL)
Red Spruce Capital LLC acquired a new stake in Royal Caribbean Cruises Ltd (NYSE:RCL) in the 4th quarter, Holdings Channel reports. The firm acquired 13,247 shares of the company’s stock, valued at approximately $1,769,000. Royal Caribbean Cruises comprises 1.5% of Red Spruce Capital LLC’s investment portfolio, making the stock its 26th biggest position.
Several other institutional investors and hedge funds have also bought and sold shares of RCL. Cullen Frost Bankers Inc. bought a new position in Royal Caribbean Cruises in the third quarter worth $31,000. North Star Investment Management Corp. acquired a new stake in shares of Royal Caribbean Cruises in the third quarter valued at $33,000. FTB Advisors Inc. increased its stake in shares of Royal Caribbean Cruises by 33.5% in the third quarter. FTB Advisors Inc. now owns 367 shares of the company’s stock valued at $39,000 after buying an additional 92 shares in the last quarter. Financial Advantage Inc. acquired a new stake in Royal Caribbean Cruises in the third quarter worth about $40,000. Finally, Valeo Financial Advisors LLC increased its position in Royal Caribbean Cruises by 851.1% in the third quarter. Valeo Financial Advisors LLC now owns 447 shares of the company’s stock worth $48,000 after purchasing an additional 400 shares during the period. 72.81% of the stock is owned by institutional investors.
A number of brokerages recently commented on RCL. Deutsche Bank reiterated a “buy” rating and issued a $138.00 price objective on shares of Royal Caribbean Cruises in a research report on Thursday, October 31st. Nomura reiterated a “buy” rating and issued a $150.00 price objective on shares of Royal Caribbean Cruises in a research report on Wednesday, December 11th. Zacks Investment Research lowered Royal Caribbean Cruises from a “hold” rating to a “sell” rating and set a $133.00 price objective for the company. in a research report on Wednesday, December 18th. ValuEngine lowered Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, Macquarie raised Royal Caribbean Cruises from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $126.00 to $132.00 in a research report on Friday, October 18th. Three investment analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Royal Caribbean Cruises presently has an average rating of “Hold” and a consensus price target of $147.90.
Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Wednesday, October 30th. The company reported $4.27 earnings per share for the quarter, missing analysts’ consensus estimates of $4.31 by ($0.04). The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.22 billion. Royal Caribbean Cruises had a net margin of 17.85% and a return on equity of 17.67%. The business’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.98 earnings per share. Research analysts predict that Royal Caribbean Cruises Ltd will post 9.53 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 20th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.35%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, December 19th. Royal Caribbean Cruises’s dividend payout ratio is presently 35.21%.
In related news, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $131.07, for a total transaction of $2,621,400.00. Following the completion of the sale, the chief executive officer now directly owns 787,850 shares in the company, valued at approximately $103,263,499.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lawrence R. Pimentel sold 10,928 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $120.00, for a total value of $1,311,360.00. Following the sale, the chief executive officer now owns 58,335 shares of the company’s stock, valued at $7,000,200. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,928 shares of company stock valued at $8,606,360. Corporate insiders own 13.07% of the company’s stock.
Royal Caribbean Cruises Profile
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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