Pendal Group Ltd Cuts Stake in Royal Caribbean Cruises (RCL)

Pendal Group Ltd decreased its stake in shares of Royal Caribbean Cruises (NYSE:RCL) by 11.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,091 shares of the company’s stock after selling 11,511 shares during the period. Pendal Group Ltd’s holdings in Royal Caribbean Cruises were worth $10,961,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. ING Groep NV boosted its stake in shares of Royal Caribbean Cruises by 7.3% during the 1st quarter. ING Groep NV now owns 17,472 shares of the company’s stock valued at $2,057,000 after purchasing an additional 1,187 shares in the last quarter. MUFG Americas Holdings Corp boosted its stake in shares of Royal Caribbean Cruises by 12.0% during the 1st quarter. MUFG Americas Holdings Corp now owns 78,292 shares of the company’s stock valued at $9,218,000 after purchasing an additional 8,371 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Royal Caribbean Cruises by 9.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 673,001 shares of the company’s stock valued at $79,240,000 after purchasing an additional 58,104 shares in the last quarter. Noesis Capital Mangement Corp boosted its stake in shares of Royal Caribbean Cruises by 2.5% during the 1st quarter. Noesis Capital Mangement Corp now owns 77,096 shares of the company’s stock valued at $9,077,000 after purchasing an additional 1,850 shares in the last quarter. Finally, Chicago Equity Partners LLC boosted its stake in shares of Royal Caribbean Cruises by 13.9% during the 1st quarter. Chicago Equity Partners LLC now owns 79,785 shares of the company’s stock valued at $9,394,000 after purchasing an additional 9,745 shares in the last quarter. 75.53% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Royal Caribbean Cruises stock opened at $107.06 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.20 and a quick ratio of 0.18. The stock has a market capitalization of $22.67 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.76 and a beta of 1.23. Royal Caribbean Cruises has a 52-week low of $103.52 and a 52-week high of $135.65.



Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Thursday, April 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.12. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Royal Caribbean Cruises had a net margin of 18.52% and a return on equity of 15.85%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 earnings per share. research analysts predict that Royal Caribbean Cruises will post 8.86 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Monday, June 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 1st. This represents a $2.40 annualized dividend and a yield of 2.24%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 31.87%.

Royal Caribbean Cruises declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 9th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

A number of equities research analysts have recently weighed in on RCL shares. Zacks Investment Research raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research note on Wednesday, March 28th. ValuEngine raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. SunTrust Banks lifted their target price on shares of Royal Caribbean Cruises to $149.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Stifel Nicolaus boosted their price objective on shares of Royal Caribbean Cruises from $150.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $136.87.

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 19,060 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $131.39, for a total value of $2,504,293.40. Following the completion of the transaction, the chief executive officer now directly owns 67,530 shares of the company’s stock, valued at $8,872,766.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction dated Friday, April 13th. The stock was sold at an average price of $114.84, for a total transaction of $2,296,800.00. Following the completion of the transaction, the chief executive officer now directly owns 885,037 shares of the company’s stock, valued at $101,637,649.08. The disclosure for this sale can be found here. Insiders sold 89,904 shares of company stock valued at $11,331,535 over the last ninety days. Corporate insiders own 15.26% of the company’s stock.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Azamara Club 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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Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

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