Cypress Capital Management LLC Invests $476,000 in Royal Caribbean Cruises Ltd (RCL)

Cypress Capital Management LLC bought a new stake in Royal Caribbean Cruises Ltd (NYSE:RCL) in the first quarter, HoldingsChannel reports. The institutional investor bought 4,150 shares of the company’s stock, valued at approximately $476,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RCL. JOYN Advisors Inc. raised its stake in Royal Caribbean Cruises by 118.2% during the fourth quarter. JOYN Advisors Inc. now owns 312 shares of the company’s stock worth $31,000 after acquiring an additional 169 shares in the last quarter. Athena Capital Advisors LLC acquired a new position in Royal Caribbean Cruises during the fourth quarter worth $32,000. Parkside Financial Bank & Trust raised its stake in Royal Caribbean Cruises by 92.2% during the first quarter. Parkside Financial Bank & Trust now owns 346 shares of the company’s stock worth $40,000 after acquiring an additional 166 shares in the last quarter. First Manhattan Co. acquired a new position in Royal Caribbean Cruises during the first quarter worth $40,000. Finally, Exane Derivatives raised its stake in Royal Caribbean Cruises by 3,509.1% during the fourth quarter. Exane Derivatives now owns 397 shares of the company’s stock worth $39,000 after acquiring an additional 386 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Several research analysts have issued reports on RCL shares. Zacks Investment Research upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $134.00 price objective for the company in a research note on Monday, February 4th. Citigroup increased their price objective on Royal Caribbean Cruises from $138.00 to $154.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Buckingham Research increased their price objective on Royal Caribbean Cruises from $148.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Deutsche Bank reiterated a “buy” rating and set a $140.00 price objective on shares of Royal Caribbean Cruises in a research note on Wednesday, May 1st. Finally, Wells Fargo & Co increased their price objective on Royal Caribbean Cruises from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, February 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. Royal Caribbean Cruises currently has a consensus rating of “Buy” and a consensus target price of $144.57.

In other news, EVP Harri U. Kulovaara sold 8,642 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $117.90, for a total transaction of $1,018,891.80. Following the sale, the executive vice president now owns 26,048 shares in the company, valued at $3,071,059.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael W. Bayley sold 20,084 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $117.72, for a total value of $2,364,288.48. Following the completion of the transaction, the chief executive officer now owns 62,018 shares in the company, valued at approximately $7,300,758.96. The disclosure for this sale can be found here. Insiders have sold 69,166 shares of company stock worth $8,316,371 in the last 90 days. Company insiders own 13.07% of the company’s stock.

Shares of RCL stock traded down $1.01 during trading hours on Wednesday, hitting $122.57. 16,364 shares of the company’s stock were exchanged, compared to its average volume of 1,584,014. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.14 and a current ratio of 0.16. The stock has a market capitalization of $25.55 billion, a PE ratio of 13.81, a PEG ratio of 1.08 and a beta of 1.51. Royal Caribbean Cruises Ltd has a 52 week low of $89.48 and a 52 week high of $133.60.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Wednesday, May 1st. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.11 by $0.20. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Royal Caribbean Cruises had a return on equity of 17.23% and a net margin of 18.60%. The business’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. As a group, analysts forecast that Royal Caribbean Cruises Ltd will post 9.86 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Monday, June 3rd. Royal Caribbean Cruises’s payout ratio is presently 31.60%.

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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, Azamara Club Cruises, and Silversea 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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