Envestnet Asset Management Inc. Sells 11,351 Shares of Royal Caribbean Cruises Ltd. $RCL

Envestnet Asset Management Inc. decreased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 299,678 shares of the company’s stock after selling 11,351 shares during the quarter. Envestnet Asset Management Inc. owned 0.11% of Royal Caribbean Cruises worth $96,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of RCL. Brighton Jones LLC lifted its holdings in shares of Royal Caribbean Cruises by 12.2% in the 4th quarter. Brighton Jones LLC now owns 1,312 shares of the company’s stock worth $303,000 after acquiring an additional 143 shares during the last quarter. Woodline Partners LP raised its position in Royal Caribbean Cruises by 40.8% in the 1st quarter. Woodline Partners LP now owns 20,918 shares of the company’s stock worth $4,297,000 after purchasing an additional 6,063 shares during the period. DAVENPORT & Co LLC lifted its stake in Royal Caribbean Cruises by 7.4% in the second quarter. DAVENPORT & Co LLC now owns 1,758 shares of the company’s stock worth $550,000 after purchasing an additional 121 shares during the last quarter. US Bancorp DE boosted its position in Royal Caribbean Cruises by 2.6% during the second quarter. US Bancorp DE now owns 16,804 shares of the company’s stock valued at $5,262,000 after buying an additional 420 shares during the period. Finally, Callan Family Office LLC boosted its position in Royal Caribbean Cruises by 167.2% during the second quarter. Callan Family Office LLC now owns 5,504 shares of the company’s stock valued at $1,724,000 after buying an additional 3,444 shares during the period. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on RCL. William Blair reiterated an “outperform” rating on shares of Royal Caribbean Cruises in a report on Thursday, January 29th. Citigroup boosted their price objective on Royal Caribbean Cruises from $332.00 to $398.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Wells Fargo & Company increased their price objective on Royal Caribbean Cruises from $373.00 to $383.00 and gave the company an “overweight” rating in a research note on Sunday, February 1st. The Goldman Sachs Group lifted their target price on shares of Royal Caribbean Cruises from $310.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Tigress Financial upped their price target on shares of Royal Caribbean Cruises from $415.00 to $425.00 and gave the company a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $348.29.

Royal Caribbean Cruises Stock Up 6.7%

Shares of Royal Caribbean Cruises stock opened at $347.86 on Friday. The company has a current ratio of 0.18, a quick ratio of 0.16 and a debt-to-equity ratio of 1.77. Royal Caribbean Cruises Ltd. has a 12-month low of $164.01 and a 12-month high of $366.50. The company has a market cap of $94.86 billion, a P/E ratio of 22.28, a PEG ratio of 1.14 and a beta of 1.91. The company’s fifty day simple moving average is $289.35 and its two-hundred day simple moving average is $303.57.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Thursday, January 29th. The company reported $2.80 EPS for the quarter, hitting the consensus estimate of $2.80. Royal Caribbean Cruises had a net margin of 23.80% and a return on equity of 45.06%. The firm had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period last year, the company posted $1.63 EPS. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. Research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Royal Caribbean Cruises’s dividend payout ratio is currently 25.62%.

Royal Caribbean Cruises announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 10th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

About Royal Caribbean Cruises

Royal Caribbean Cruises (NYSE: RCL), operating as part of the Royal Caribbean Group, is a global cruise company that develops, markets and operates passenger cruise ships. The company operates multiple consumer-facing cruise brands that offer short- and long-duration itineraries and a range of onboard experiences. Its core activities include itineraries and voyage operations, guest services and hospitality, onboard food and beverage, entertainment and recreation programming, and the commercial activities needed to sell and support cruises through both direct and travel‑agent channels.

Royal Caribbean’s ships serve a broad set of geographies worldwide, regularly deploying vessels in the Caribbean, North America (including Alaska), Europe, Asia, Australia and South America.