Oakbrook Investments LLC Raises Stake in Royal Caribbean Cruises Ltd (RCL)
Oakbrook Investments LLC increased its position in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) by 4.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,245 shares of the company’s stock after buying an additional 790 shares during the period. Oakbrook Investments LLC’s holdings in Royal Caribbean Cruises were worth $1,977,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. JOYN Advisors Inc. increased its stake in Royal Caribbean Cruises by 118.2% during the 4th quarter. JOYN Advisors Inc. now owns 312 shares of the company’s stock worth $31,000 after buying an additional 169 shares during the period. Athena Capital Advisors LLC purchased a new stake in Royal Caribbean Cruises during the 4th quarter worth $32,000. First Manhattan Co. purchased a new stake in Royal Caribbean Cruises during the 1st quarter worth $40,000. Exane Derivatives increased its stake in Royal Caribbean Cruises by 3,509.1% during the 4th quarter. Exane Derivatives now owns 397 shares of the company’s stock worth $39,000 after buying an additional 386 shares during the period. Finally, PRW Wealth Management LLC purchased a new stake in Royal Caribbean Cruises during the 4th quarter worth $45,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.
In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 20,084 shares of the firm’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $117.72, for a total transaction of $2,364,288.48. Following the completion of the transaction, the chief executive officer now directly owns 62,018 shares of the company’s stock, valued at approximately $7,300,758.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael W. Bayley sold 7,115 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $116.15, for a total transaction of $826,407.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,447 shares of company stock valued at $8,271,277. 15.26% of the stock is owned by company insiders.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Wednesday, January 30th. The company reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.31 billion. Royal Caribbean Cruises had a net margin of 19.08% and a return on equity of 17.08%. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the business earned $7.53 EPS. Equities analysts forecast that Royal Caribbean Cruises Ltd will post 9.96 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Thursday, March 7th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Wednesday, March 6th. Royal Caribbean Cruises’s dividend payout ratio is currently 31.60%.
Several research firms recently issued reports on RCL. Wells Fargo & Co lifted their price target on shares of Royal Caribbean Cruises from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, February 25th. Zacks Investment Research raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a research note on Tuesday, April 9th. Finally, ValuEngine downgraded shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $140.83.
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Royal Caribbean Cruises Company 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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