Garnet Equity Capital Holdings Inc. Trims Stake in Royal Caribbean Cruises Ltd (RCL)

Garnet Equity Capital Holdings Inc. trimmed its holdings in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) by 33.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,000 shares of the company’s stock after selling 20,000 shares during the period. Royal Caribbean Cruises comprises 3.8% of Garnet Equity Capital Holdings Inc.’s holdings, making the stock its 8th largest position. Garnet Equity Capital Holdings Inc.’s holdings in Royal Caribbean Cruises were worth $5,198,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. First Mercantile Trust Co. acquired a new stake in Royal Caribbean Cruises in the 2nd quarter valued at about $145,000. Squar Milner Financial Services LLC acquired a new stake in Royal Caribbean Cruises in the 2nd quarter valued at about $164,000. Bronfman E.L. Rothschild L.P. lifted its stake in Royal Caribbean Cruises by 488.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,788 shares of the company’s stock valued at $185,000 after purchasing an additional 1,484 shares during the last quarter. NEXT Financial Group Inc acquired a new stake in Royal Caribbean Cruises in the 1st quarter valued at about $214,000. Finally, Wright Investors Service Inc. acquired a new stake in Royal Caribbean Cruises in the 2nd quarter valued at about $204,000. Institutional investors own 71.02% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Royal Caribbean Cruises from $147.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, September 24th. Bank of America raised their target price on shares of Royal Caribbean Cruises from $138.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, September 26th. Morgan Stanley raised their target price on shares of Royal Caribbean Cruises from $110.00 to $120.00 and gave the company a “hold” rating in a research note on Thursday, September 6th. Deutsche Bank upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and raised their target price for the company from $135.00 to $146.00 in a research note on Wednesday, August 29th. Finally, ValuEngine upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Friday, August 24th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $141.29.

Royal Caribbean Cruises stock traded up $2.22 during trading hours on Friday, hitting $119.07. The company had a trading volume of 154,935 shares, compared to its average volume of 1,742,083. The stock has a market cap of $27.15 billion, a P/E ratio of 15.70, a P/E/G ratio of 0.92 and a beta of 1.17. The company has a quick ratio of 0.18, a current ratio of 0.20 and a debt-to-equity ratio of 0.68. Royal Caribbean Cruises Ltd has a one year low of $101.20 and a one year high of $135.65.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, August 2nd. The company reported $2.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.30. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Royal Caribbean Cruises had a net margin of 19.31% and a return on equity of 16.50%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.71 EPS. Equities analysts anticipate that Royal Caribbean Cruises Ltd will post 8.91 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 11th. Shareholders of record on Friday, September 21st were issued a $0.70 dividend. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 2.35%. The ex-dividend date was Thursday, September 20th. Royal Caribbean Cruises’s dividend payout ratio is currently 37.18%.

In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 6,600 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $125.55, for a total value of $828,630.00. Following the transaction, the executive vice president now directly owns 26,165 shares of the company’s stock, valued at approximately $3,285,015.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 15.26% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Company 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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Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

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