Cornerstone Capital Management Holdings LLC. reduced its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 374,184 shares of the company’s stock after selling 8,699 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.17% of Royal Caribbean Cruises worth $40,870,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RCL. TLP Group LLC acquired a new position in shares of Royal Caribbean Cruises during the second quarter worth about $105,000. Acrospire Investment Management LLC boosted its position in Royal Caribbean Cruises by 25.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock valued at $109,000 after purchasing an additional 200 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Royal Caribbean Cruises during the first quarter valued at approximately $119,000. NEXT Financial Group Inc boosted its position in Royal Caribbean Cruises by 9.0% during the second 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. acquired a new position in Royal Caribbean Cruises during the second quarter valued at approximately $121,000. 71.51% of the stock is owned by institutional investors.

RCL has been the subject of several recent research reports. Zacks Investment Research cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. J P Morgan Chase & Co raised Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and increased their price target for the company from $111.00 to $130.00 in a research report on Thursday, July 20th. Bank of America Corporation initiated coverage on Royal Caribbean Cruises in a research report on Monday, July 24th. They set a “neutral” rating and a $123.00 price target for the company. Goldman Sachs Group, Inc. (The) initiated coverage on Royal Caribbean Cruises in a research report on Monday, July 24th. They set a “neutral” rating for the company. Finally, BidaskClub cut Royal Caribbean Cruises from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Royal Caribbean Cruises currently has a consensus rating of “Buy” and an average target price of $119.73.

In related news, EVP Harri U. Kulovaara sold 7,580 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $119.61, for a total value of $906,643.80. Following the transaction, the executive vice president now owns 23,493 shares in the company, valued at $2,809,997.73. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $109.62, for a total value of $2,192,400.00. Following the completion of the transaction, the chief executive officer now owns 967,741 shares in the company, valued at approximately $106,083,768.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 480,079 shares of company stock worth $56,139,855. 15.30% of the stock is owned by company insiders.

Royal Caribbean Cruises Ltd. (RCL) traded up 1.65% during mid-day trading on Thursday, hitting $123.68. The stock had a trading volume of 626,774 shares. The firm’s 50-day moving average price is $119.54 and its 200-day moving average price is $110.81. Royal Caribbean Cruises Ltd. has a 1-year low of $67.53 and a 1-year high of $125.00. The stock has a market cap of $26.60 billion, a PE ratio of 17.35 and a beta of 0.99.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the business earned $1.09 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. On average, equities analysts expect that Royal Caribbean Cruises Ltd. will post $7.43 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Friday, September 22nd will be paid a $0.60 dividend. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, September 21st. This represents a $2.40 annualized dividend and a yield of 1.97%. Royal Caribbean Cruises’s dividend payout ratio is presently 33.71%.

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About Royal Caribbean Cruises

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).

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

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