Marble Harbor Investment Counsel LLC decreased its position in Royal Caribbean Cruises Ltd (NYSE:RCL) by 30.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,800 shares of the company’s stock after selling 1,700 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Royal Caribbean Cruises were worth $447,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. First Republic Investment Management Inc. boosted its position in Royal Caribbean Cruises by 90.8% during the 1st quarter. First Republic Investment Management Inc. now owns 3,386 shares of the company’s stock valued at $398,000 after purchasing an additional 1,611 shares during the period. Natixis Advisors L.P. boosted its position in Royal Caribbean Cruises by 6.7% during the 1st quarter. Natixis Advisors L.P. now owns 24,998 shares of the company’s stock valued at $2,943,000 after purchasing an additional 1,578 shares during the period. Stratos Wealth Partners LTD. boosted its position in Royal Caribbean Cruises by 80.6% during the 1st quarter. Stratos Wealth Partners LTD. now owns 2,370 shares of the company’s stock valued at $279,000 after purchasing an additional 1,058 shares during the period. Toronto Dominion Bank boosted its position in Royal Caribbean Cruises by 24.9% during the 1st quarter. Toronto Dominion Bank now owns 92,195 shares of the company’s stock valued at $10,852,000 after purchasing an additional 18,371 shares during the period. Finally, Nippon Life Global Investors Americas Inc. boosted its position in Royal Caribbean Cruises by 98.8% during the 1st quarter. Nippon Life Global Investors Americas Inc. now owns 37,040 shares of the company’s stock valued at $4,361,000 after purchasing an additional 18,410 shares during the period. Institutional investors and hedge funds own 72.05% of the company’s stock.
In other news, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction on Friday, April 13th. The stock was sold at an average price of $114.84, for a total value of $2,296,800.00. Following the sale, the chief executive officer now owns 885,037 shares of the company’s stock, valued at approximately $101,637,649.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.26% of the stock is currently owned by insiders.
Shares of Royal Caribbean Cruises opened at $109.80 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.18 and a current ratio of 0.20. The firm has a market cap of $22.59 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 0.76 and a beta of 1.23. Royal Caribbean Cruises Ltd has a 1-year low of $103.76 and a 1-year high of $135.65.
Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Thursday, April 26th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.12. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.04 billion. Royal Caribbean Cruises had a return on equity of 15.85% and a net margin of 18.52%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 EPS. research analysts forecast that Royal Caribbean Cruises Ltd will post 8.88 EPS for the current fiscal year.
Royal Caribbean Cruises announced that its board has approved a share buyback program on Wednesday, May 9th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Monday, June 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, June 1st. Royal Caribbean Cruises’s dividend payout ratio is presently 31.87%.
A number of research analysts recently issued reports on RCL shares. ValuEngine upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research report on Wednesday, March 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Royal Caribbean Cruises in a research note on Thursday, April 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Royal Caribbean Cruises currently has an average rating of “Buy” and an average price target of $136.87.
Royal Caribbean Cruises Profile
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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