Freemont Management S.A. Sells 7,600 Shares of Royal Caribbean Cruises Ltd. $RCL

Freemont Management S.A. reduced its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 87.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,100 shares of the company’s stock after selling 7,600 shares during the quarter. Freemont Management S.A.’s holdings in Royal Caribbean Cruises were worth $356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Royal Caribbean Cruises in the second quarter valued at approximately $1,021,893,000. Vanguard Group Inc. grew its stake in Royal Caribbean Cruises by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 29,604,177 shares of the company’s stock valued at $9,270,252,000 after buying an additional 929,414 shares during the last quarter. 1832 Asset Management L.P. bought a new position in Royal Caribbean Cruises in the 2nd quarter worth $172,488,000. Bessemer Group Inc. lifted its position in Royal Caribbean Cruises by 7,971.4% during the 2nd quarter. Bessemer Group Inc. now owns 540,222 shares of the company’s stock worth $169,165,000 after acquiring an additional 533,529 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Royal Caribbean Cruises by 91.7% during the second quarter. American Century Companies Inc. now owns 1,087,660 shares of the company’s stock valued at $340,590,000 after acquiring an additional 520,353 shares during the period. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $332.78 on Friday. Royal Caribbean Cruises Ltd. has a 1-year low of $164.01 and a 1-year high of $366.50. The firm has a market capitalization of $90.75 billion, a PE ratio of 21.32, a PEG ratio of 1.09 and a beta of 1.91. The business’s 50 day moving average is $295.46 and its 200-day moving average is $303.60. The company has a current ratio of 0.18, a quick ratio of 0.16 and a debt-to-equity ratio of 1.77.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Thursday, January 29th. The company reported $2.80 EPS for the quarter, meeting analysts’ consensus estimates of $2.80. Royal Caribbean Cruises had a return on equity of 45.06% and a net margin of 23.80%.The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period in the prior year, the company posted $1.63 earnings per share. Royal Caribbean Cruises’s revenue was up 13.2% on a year-over-year basis. Sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Friday, March 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $1.00. Royal Caribbean Cruises’s payout ratio is 25.62%.

Royal Caribbean Cruises declared that its board has initiated a stock buyback program on Wednesday, December 10th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Bank of America lifted their price objective on Royal Caribbean Cruises from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Barclays lifted their price target on Royal Caribbean Cruises from $324.00 to $361.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Morgan Stanley upped their price target on Royal Caribbean Cruises from $290.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Wall Street Zen downgraded shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, UBS Group cut their target price on shares of Royal Caribbean Cruises from $353.00 to $304.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $348.29.

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises (NYSE: RCL), operating as part of the Royal Caribbean Group, is a global cruise company that develops, markets and operates passenger cruise ships. The company operates multiple consumer-facing cruise brands that offer short- and long-duration itineraries and a range of onboard experiences. Its core activities include itineraries and voyage operations, guest services and hospitality, onboard food and beverage, entertainment and recreation programming, and the commercial activities needed to sell and support cruises through both direct and travel‑agent channels.

Royal Caribbean’s ships serve a broad set of geographies worldwide, regularly deploying vessels in the Caribbean, North America (including Alaska), Europe, Asia, Australia and South America.