Capital International Investors boosted its stake in Royal Caribbean Cruises Ltd (NYSE:RCL) by 158.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,565,820 shares of the company’s stock after buying an additional 5,256,795 shares during the period. Capital International Investors’ holdings in Royal Caribbean Cruises were worth $1,143,623,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Stonebridge Financial Planning Group LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. boosted its stake in Royal Caribbean Cruises by 100.0% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 200 shares of the company’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Atlas Private Wealth Management acquired a new position in Royal Caribbean Cruises in the fourth quarter worth $27,000. Solstein Capital LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter worth $36,000. Finally, Tobias Financial Advisors Inc. acquired a new position in Royal Caribbean Cruises in the fourth quarter worth $41,000. 74.98% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Richard D. Fain sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $119.69, for a total value of $2,393,800.00. Following the completion of the sale, the chief executive officer now directly owns 773,137 shares of the company’s stock, valued at $92,536,767.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 13.07% of the company’s stock.
Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.01. Royal Caribbean Cruises had a return on equity of 17.06% and a net margin of 17.16%. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the firm posted $1.53 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. Research analysts anticipate that Royal Caribbean Cruises Ltd will post 4.92 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Friday, March 6th will be given a $0.78 dividend. The ex-dividend date is Thursday, March 5th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.85%. Royal Caribbean Cruises’s payout ratio is 32.70%.
A number of research firms have commented on RCL. Nomura reissued a “buy” rating on shares of Royal Caribbean Cruises in a research note on Monday, March 9th. Berenberg Bank cut Royal Caribbean Cruises to a “hold” rating and set a $127.00 price objective for the company. in a research report on Wednesday, February 19th. Buckingham Research cut Royal Caribbean Cruises from a “buy” rating to a “neutral” rating and reduced their price target for the company from $158.00 to $122.00 in a research report on Monday, February 3rd. Macquarie reissued a “buy” rating and set a $141.00 price target on shares of Royal Caribbean Cruises in a research report on Thursday, February 6th. Finally, Argus cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Royal Caribbean Cruises presently has a consensus rating of “Hold” and a consensus price target of $115.69.
About Royal Caribbean Cruises
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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