Victory Capital Management Inc. Has $64.99 Million Holdings in Royal Caribbean Cruises Ltd. (RCL)
Victory Capital Management Inc. reduced its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 31.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 548,296 shares of the company’s stock after selling 251,054 shares during the period. Victory Capital Management Inc. owned about 0.25% of Royal Caribbean Cruises worth $64,994,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. Eqis Capital Management Inc. increased its stake in Royal Caribbean Cruises by 0.3% in the 2nd quarter. Eqis Capital Management Inc. now owns 2,370 shares of the company’s stock worth $259,000 after purchasing an additional 8 shares during the period. Morse Asset Management Inc increased its stake in Royal Caribbean Cruises by 0.7% in the 2nd quarter. Morse Asset Management Inc now owns 3,425 shares of the company’s stock worth $374,000 after purchasing an additional 25 shares during the period. Neuberger Berman Group LLC increased its stake in Royal Caribbean Cruises by 1.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,458 shares of the company’s stock worth $268,000 after purchasing an additional 28 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Royal Caribbean Cruises by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,463 shares of the company’s stock worth $1,361,000 after purchasing an additional 35 shares during the period. Finally, CIBC Asset Management Inc increased its stake in Royal Caribbean Cruises by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 17,863 shares of the company’s stock worth $1,951,000 after purchasing an additional 58 shares during the period. 71.25% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Harri U. Kulovaara sold 7,580 shares of Royal Caribbean Cruises stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $119.61, for a total value of $906,643.80. Following the sale, the executive vice president now directly owns 23,493 shares in the company, valued at $2,809,997.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $118.95, for a total transaction of $2,379,000.00. Following the completion of the sale, the chief executive officer now owns 947,741 shares in the company, valued at $112,733,791.95. The disclosure for this sale can be found here. Insiders sold 67,580 shares of company stock worth $8,225,444 over the last quarter. 15.30% of the stock is owned by corporate insiders.
RCL has been the topic of a number of analyst reports. J P Morgan Chase & Co raised Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $111.00 to $130.00 in a research note on Thursday, July 20th. Bank of America Corporation initiated coverage on Royal Caribbean Cruises in a research note on Monday, July 24th. They issued a “neutral” rating and a $123.00 price target on the stock. Goldman Sachs Group, Inc. (The) assumed coverage on Royal Caribbean Cruises in a research note on Monday, July 24th. They issued a “neutral” rating on the stock. Zacks Investment Research raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a research note on Thursday, July 27th. Finally, BidaskClub cut Royal Caribbean Cruises from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $123.04.
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Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) opened at $123.18 on Friday. The stock has a market cap of $26.48 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 0.74 and a beta of 1.07. The company has a quick ratio of 0.12, a current ratio of 0.15 and a debt-to-equity ratio of 0.67.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.04. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the company earned $1.09 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. equities analysts forecast that Royal Caribbean Cruises Ltd. will post 7.4 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 11th. Stockholders of record on Friday, September 22nd were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, September 21st. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.95%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 33.71%.
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).
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