State Board of Administration of Florida Retirement System Sells 9,766 Shares of Royal Caribbean Cruises Ltd (NYSE:RCL)

State Board of Administration of Florida Retirement System cut its stake in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) by 4.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,698 shares of the company’s stock after selling 9,766 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Royal Caribbean Cruises were worth $27,963,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Synovus Financial Corp lifted its stake in Royal Caribbean Cruises by 12.6% during the 1st quarter. Synovus Financial Corp now owns 4,061 shares of the company’s stock valued at $467,000 after acquiring an additional 453 shares in the last quarter. Perella Weinberg Partners Capital Management LP bought a new position in Royal Caribbean Cruises during the 1st quarter valued at $8,886,000. Nomura Asset Management Co. Ltd. lifted its stake in Royal Caribbean Cruises by 0.5% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 27,666 shares of the company’s stock valued at $3,171,000 after acquiring an additional 145 shares in the last quarter. Allstate Corp bought a new position in Royal Caribbean Cruises during the 1st quarter valued at $371,000. Finally, Baltimore Washington Financial Advisors Inc. lifted its stake in Royal Caribbean Cruises by 2.9% during the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 78,358 shares of the company’s stock valued at $9,498,000 after acquiring an additional 2,228 shares in the last quarter. Institutional investors and hedge funds own 72.85% of the company’s stock.

In other news, CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction on Monday, August 5th. The stock was sold at an average price of $108.46, for a total transaction of $2,169,200.00. Following the sale, the chief executive officer now directly owns 905,651 shares in the company, valued at approximately $98,226,907.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.07% of the company’s stock.

Several equities analysts have weighed in on RCL shares. Wedbush restated an “underweight” rating and set a $145.00 price objective (up from $140.00) on shares of Royal Caribbean Cruises in a research note on Thursday, May 2nd. They noted that the move was a valuation call. Citigroup raised their price objective on Royal Caribbean Cruises from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Monday, May 6th. ValuEngine cut Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Nomura lowered their target price on Royal Caribbean Cruises from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Finally, Deutsche Bank lowered their target price on Royal Caribbean Cruises from $145.00 to $139.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $142.50.

Shares of NYSE RCL traded down $1.43 during mid-day trading on Friday, reaching $105.60. 94,086 shares of the company’s stock were exchanged, compared to its average volume of 1,865,676. The firm has a market capitalization of $22.56 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.04 and a beta of 1.34. Royal Caribbean Cruises Ltd has a 52 week low of $89.48 and a 52 week high of $133.60. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.17 and a quick ratio of 0.15. The firm has a 50-day moving average price of $110.85 and a two-hundred day moving average price of $117.71.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, July 25th. The company reported $2.54 EPS for the quarter, topping the Zacks’ consensus estimate of $2.45 by $0.09. The company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Royal Caribbean Cruises had a return on equity of 17.39% and a net margin of 17.82%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.27 EPS. As a group, sell-side analysts forecast that Royal Caribbean Cruises Ltd will post 9.67 EPS for the current fiscal year.

Royal Caribbean Cruises 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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