Smithfield Trust Co. raised its holdings in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) by 235.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,073 shares of the company’s stock after acquiring an additional 753 shares during the period. Smithfield Trust Co.’s holdings in Royal Caribbean Cruises were worth $140,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Swiss National Bank raised its position in shares of Royal Caribbean Cruises by 2.8% during the 2nd quarter. Swiss National Bank now owns 565,238 shares of the company’s stock valued at $58,559,000 after acquiring an additional 15,600 shares during the last quarter. Hexavest Inc. raised its position in shares of Royal Caribbean Cruises by 44.9% during the 3rd quarter. Hexavest Inc. now owns 542,895 shares of the company’s stock valued at $70,544,000 after acquiring an additional 168,242 shares during the last quarter. Davy Asset Management Ltd bought a new stake in shares of Royal Caribbean Cruises during the 2nd quarter valued at $1,314,000. Legacy Capital Partners Inc. raised its position in shares of Royal Caribbean Cruises by 7.2% during the 3rd quarter. Legacy Capital Partners Inc. now owns 6,552 shares of the company’s stock valued at $851,000 after acquiring an additional 441 shares during the last quarter. Finally, Putnam Investments LLC raised its position in shares of Royal Caribbean Cruises by 3.9% during the 2nd quarter. Putnam Investments LLC now owns 216,639 shares of the company’s stock valued at $22,444,000 after acquiring an additional 8,190 shares during the last quarter. Institutional investors own 70.91% of the company’s stock.
A number of analysts recently commented on RCL shares. ValuEngine upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Macquarie upped their price objective on shares of Royal Caribbean Cruises from $103.00 to $104.00 and gave the company a “neutral” rating in a research report on Friday, October 26th. Citigroup lowered their price objective on shares of Royal Caribbean Cruises from $136.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. Nomura lowered their price objective on shares of Royal Caribbean Cruises from $153.00 to $152.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Finally, Deutsche Bank set a $138.00 price objective on shares of Royal Caribbean Cruises and gave the company a “buy” rating in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $139.29.
Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, October 25th. The company reported $3.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.97 by $0.01. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Royal Caribbean Cruises had a return on equity of 16.93% and a net margin of 19.46%. As a group, sell-side analysts forecast that Royal Caribbean Cruises Ltd will post 8.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 11th. Shareholders of record on Friday, September 21st were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Thursday, September 20th. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.60. Royal Caribbean Cruises’s dividend payout ratio is 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 stock was sold at an average price of $125.55, for a total transaction of $828,630.00. Following the completion of the transaction, the executive vice president now owns 26,165 shares in the company, valued at approximately $3,285,015.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.26% of the stock is currently owned by corporate insiders.
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About Royal Caribbean Cruises
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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