Crossmark Global Holdings Inc. trimmed its holdings in Royal Caribbean Cruises Ltd (NYSE:RCL) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,498 shares of the company’s stock after selling 592 shares during the period. Crossmark Global Holdings Inc.’s holdings in Royal Caribbean Cruises were worth $1,494,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in RCL. Smithfield Trust Co. grew its stake in shares of Royal Caribbean Cruises by 235.3% during the third quarter. Smithfield Trust Co. now owns 1,073 shares of the company’s stock worth $140,000 after buying an additional 753 shares during the last quarter. First Mercantile Trust Co. bought a new stake in shares of Royal Caribbean Cruises during the second quarter worth $145,000. Dearborn Partners LLC bought a new stake in shares of Royal Caribbean Cruises during the third quarter worth $208,000. Brookstone Capital Management bought a new stake in shares of Royal Caribbean Cruises during the third quarter worth $225,000. Finally, Allianz Life Insurance Co. of North America bought a new stake in shares of Royal Caribbean Cruises during the third quarter worth $226,000. Institutional investors own 71.50% of the company’s stock.
RCL has been the topic of a number of research reports. Citigroup decreased their target price on shares of Royal Caribbean Cruises from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Friday, August 17th. Barclays initiated coverage on shares of Royal Caribbean Cruises in a research note on Friday, August 3rd. They set an “overweight” rating on the stock. Morgan Stanley boosted their target price on shares of Royal Caribbean Cruises from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Thursday, September 6th. Macquarie boosted their target price on shares of Royal Caribbean Cruises from $103.00 to $104.00 and gave the stock a “neutral” rating in a research note on Friday, October 26th. Finally, Wells Fargo & Co reduced their price objective on shares of Royal Caribbean Cruises from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, October 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. Royal Caribbean Cruises currently has a consensus rating of “Buy” and an average price target of $139.62.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, October 25th. The company reported $3.98 earnings per share for the quarter, topping the consensus estimate of $3.97 by $0.01. Royal Caribbean Cruises had a net margin of 19.46% and a return on equity of 16.93%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.82 billion. As a group, sell-side analysts predict that Royal Caribbean Cruises Ltd will post 8.83 earnings per share for the current fiscal year.
In related news, Director Bernt Reitan sold 1,578 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $106.58, for a total value of $168,183.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Harri U. Kulovaara sold 6,600 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were 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 disclosure for this sale can be found here. Insiders own 15.26% of the company’s stock.
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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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