Pitcairn Co. Takes $538,000 Position in Royal Caribbean Cruises Ltd (RCL)

Pitcairn Co. bought a new position in Royal Caribbean Cruises Ltd (NYSE:RCL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,138 shares of the company’s stock, valued at approximately $538,000.

A number of other large investors have also recently made changes to their positions in RCL. First Mercantile Trust Co. purchased a new position in Royal Caribbean Cruises in the second quarter worth about $145,000. Squar Milner Financial Services LLC purchased a new position in Royal Caribbean Cruises in the second quarter worth about $164,000. Bronfman E.L. Rothschild L.P. boosted its position in Royal Caribbean Cruises by 488.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,788 shares of the company’s stock worth $185,000 after purchasing an additional 1,484 shares during the last quarter. Wright Investors Service Inc. purchased a new position in Royal Caribbean Cruises in the second quarter worth about $204,000. Finally, AdvisorNet Financial Inc purchased a new position in Royal Caribbean Cruises in the second quarter worth about $207,000. 70.91% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have issued reports on RCL shares. Stifel Nicolaus dropped their target price on Royal Caribbean Cruises from $153.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, July 24th. Bank of America raised their target price on Royal Caribbean Cruises from $138.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 26th. Deutsche Bank raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and raised their target price for the stock from $135.00 to $146.00 in a research report on Wednesday, August 29th. Barclays started coverage on Royal Caribbean Cruises in a research report on Friday, August 3rd. They set an “overweight” rating on the stock. Finally, Nomura lowered their price objective on Royal Caribbean Cruises from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $140.33.

In related news, EVP Harri U. Kulovaara sold 6,600 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $125.55, for a total transaction of $828,630.00. Following the sale, the executive vice president now owns 26,165 shares of the company’s stock, valued at approximately $3,285,015.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.26% of the stock is currently owned by company insiders.

RCL stock opened at $106.12 on Wednesday. Royal Caribbean Cruises Ltd has a twelve month low of $97.48 and a twelve month high of $135.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 0.19. The stock has a market cap of $22.11 billion, a PE ratio of 14.09, a P/E/G ratio of 0.87 and a beta of 1.34.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, October 25th. The company reported $3.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.97 by $0.01. Royal Caribbean Cruises had a return on equity of 16.93% and a net margin of 19.46%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.82 billion. As a group, equities analysts forecast that Royal Caribbean Cruises Ltd will post 8.83 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 11th. Investors of record on Friday, September 21st were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Thursday, September 20th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.60. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 37.18%.

TRADEMARK VIOLATION WARNING: This article was first reported by WKRB News and is the sole property of of WKRB News. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at https://www.wkrb13.com/2018/11/07/pitcairn-co-takes-538000-position-in-royal-caribbean-cruises-ltd-rcl.html.

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.

Read More: Why does a company issue an IPO?

Want to see what other hedge funds are holding RCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Caribbean Cruises Ltd (NYSE:RCL).

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

Receive News & Ratings for Royal Caribbean Cruises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Caribbean Cruises and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply