Northern Trust Corp increased its stake in Royal Caribbean Cruises Ltd (NYSE:RCL) by 1.7% in the 2nd quarter, Holdings Channel reports. The firm owned 1,922,174 shares of the company’s stock after purchasing an additional 31,692 shares during the period. Northern Trust Corp’s holdings in Royal Caribbean Cruises were worth $232,986,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the business. Rational Advisors LLC lifted its stake in shares of Royal Caribbean Cruises by 1,060.0% in the first quarter. Rational Advisors LLC now owns 232 shares of the company’s stock worth $27,000 after buying an additional 212 shares during the last quarter. Front Row Advisors LLC boosted its holdings in shares of Royal Caribbean Cruises by 475.0% during the 1st quarter. Front Row Advisors LLC now owns 230 shares of the company’s stock worth $27,000 after buying an additional 190 shares during the period. FinTrust Capital Advisors LLC raised its holdings in Royal Caribbean Cruises by 5,040.0% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 257 shares of the company’s stock worth $31,000 after acquiring an additional 252 shares during the period. Central Bank & Trust Co. bought a new position in Royal Caribbean Cruises in the 2nd quarter worth $37,000. Finally, Archford Capital Strategies LLC lifted its position in Royal Caribbean Cruises by 814.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 393 shares of the company’s stock worth $48,000 after acquiring an additional 350 shares during the last quarter. 72.97% of the stock is owned by hedge funds and other institutional investors.
RCL has been the subject of a number of recent analyst reports. Argus cut shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Nomura dropped their price objective on Royal Caribbean Cruises from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Wells Fargo & Co boosted their price objective on Royal Caribbean Cruises from $155.00 to $158.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Deutsche Bank decreased their target price on Royal Caribbean Cruises from $145.00 to $139.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Finally, Stifel Nicolaus increased their target price on Royal Caribbean Cruises from $150.00 to $151.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Royal Caribbean Cruises presently has an average rating of “Hold” and an average target price of $144.82.
Royal Caribbean Cruises stock traded up $1.02 during mid-day trading on Wednesday, reaching $114.77. The company had a trading volume of 75,699 shares, compared to its average volume of 1,339,633. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 0.83. The firm has a market cap of $23.18 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.08 and a beta of 1.37. The company has a 50 day moving average of $108.23 and a 200-day moving average of $116.54. Royal Caribbean Cruises Ltd has a 52 week low of $89.48 and a 52 week high of $133.60.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.54 EPS for the quarter, beating the Zacks’ consensus estimate of $2.45 by $0.09. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.79 billion. Royal Caribbean Cruises had a net margin of 17.82% and a return on equity of 17.39%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.27 earnings per share. On average, analysts predict that Royal Caribbean Cruises Ltd will post 9.65 earnings per share for the current fiscal year.
The company also recently announced a 0.70000 dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be given a dividend of $0.78 per share. This represents a yield of 2.8%. The ex-dividend date of this dividend is Thursday, September 19th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 31.60%.
In related news, CEO Lawrence R. Pimentel sold 10,518 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $108.25, for a total value of $1,138,573.50. Following the sale, the chief executive officer now owns 55,909 shares of the company’s stock, valued at approximately $6,052,149.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $110.22, for a total transaction of $2,204,400.00. Following the completion of the sale, the chief executive officer now owns 910,639 shares in the company, valued at approximately $100,370,630.58. The disclosure for this sale can be found here. Insiders have sold 70,518 shares of company stock worth $7,625,374 over the last 90 days. Corporate insiders own 13.07% 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, 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.
Further Reading: Short Selling
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