Livforsakringsbolaget Skandia Omsesidigt reduced its stake in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) by 25.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,199 shares of the company’s stock after selling 1,800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Royal Caribbean Cruises were worth $676,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. First Mercantile Trust Co. acquired a new stake in Royal Caribbean Cruises during the 2nd quarter worth $145,000. Squar Milner Financial Services LLC acquired a new stake in Royal Caribbean Cruises during the 2nd quarter worth $164,000. Dearborn Partners LLC acquired a new stake in Royal Caribbean Cruises during the 3rd quarter worth $208,000. Allianz Life Insurance Co. of North America acquired a new stake in Royal Caribbean Cruises during the 3rd quarter worth $226,000. Finally, Bronfman E.L. Rothschild L.P. raised its stake in Royal Caribbean Cruises by 488.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,788 shares of the company’s stock worth $185,000 after acquiring an additional 1,484 shares in the last quarter. Hedge funds and other institutional investors own 71.29% of the company’s stock.
In other news, EVP Harri U. Kulovaara sold 6,600 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $125.55, for a total transaction of $828,630.00. Following the transaction, the executive vice president now directly owns 26,165 shares in the company, valued at $3,285,015.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 15.26% of the company’s stock.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, October 25th. The company reported $3.98 EPS for the quarter, beating analysts’ consensus estimates of $3.97 by $0.01. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.82 billion. Royal Caribbean Cruises had a net margin of 19.46% and a return on equity of 16.93%. Equities analysts anticipate that Royal Caribbean Cruises Ltd will post 8.83 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 11th. Stockholders of record on Friday, September 21st were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.81%. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, September 20th. Royal Caribbean Cruises’s payout ratio is 37.18%.
Several equities research analysts recently commented on the stock. Nomura cut their price target on shares of Royal Caribbean Cruises from $153.00 to $152.00 and set a “buy” rating on the stock in a research note on Friday. Macquarie lifted their price objective on shares of Royal Caribbean Cruises from $103.00 to $104.00 and gave the company a “neutral” rating in a research note on Friday. ValuEngine upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Deutsche Bank set a $138.00 price objective on shares of Royal Caribbean Cruises and gave the company a “buy” rating in a research note on Friday. Finally, Wells Fargo & Co dropped their price objective on shares of Royal Caribbean Cruises from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $141.07.
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.
Further Reading: Short Selling Stocks, A Beginner’s Guide
Want to see what other hedge funds are holding RCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Caribbean Cruises Ltd (NYSE:RCL).
Receive News & Ratings for Royal Caribbean Cruises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Caribbean Cruises and related companies with MarketBeat.com's FREE daily email newsletter.