Cornerstone Capital Management Holdings LLC. lessened its holdings in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) by 21.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 291,522 shares of the company’s stock after selling 80,609 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.12% of Royal Caribbean Cruises worth $34,771,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. IFG Advisory LLC purchased a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $641,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Royal Caribbean Cruises in the third quarter valued at approximately $119,000. ClariVest Asset Management LLC purchased a new stake in Royal Caribbean Cruises during the third quarter worth $142,000. Assetmark Inc. lifted its holdings in Royal Caribbean Cruises by 198.1% during the third quarter. Assetmark Inc. now owns 1,225 shares of the company’s stock worth $145,000 after buying an additional 814 shares during the period. Finally, Squar Milner Financial Services LLC purchased a new stake in Royal Caribbean Cruises during the fourth quarter worth $207,000. Institutional investors and hedge funds own 74.42% of the company’s stock.
A number of analysts have weighed in on the company. ValuEngine upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. SunTrust Banks upped their target price on Royal Caribbean Cruises to $149.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Bank of America upped their target price on Royal Caribbean Cruises from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Stifel Nicolaus upped their target price on Royal Caribbean Cruises from $150.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. upped their target price on Royal Caribbean Cruises from $139.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $137.67.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. Royal Caribbean Cruises had a return on equity of 16.22% and a net margin of 18.51%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 earnings per share. equities research analysts anticipate that Royal Caribbean Cruises Ltd will post 8.7 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Stockholders of record on Wednesday, March 7th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, March 6th. Royal Caribbean Cruises’s payout ratio is presently 31.87%.
In other news, CEO Michael W. Bayley sold 19,060 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $131.39, for a total transaction of $2,504,293.40. Following 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 legal filing with the SEC, which is accessible through the SEC website. Also, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $128.10, for a total value of $2,562,000.00. Following the transaction, the chief executive officer now directly owns 807,741 shares in the company, valued at $103,471,622.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,799 shares of company stock worth $13,030,296. Insiders own 15.30% of the company’s stock.
About Royal Caribbean Cruises
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).
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