Bank of New York Mellon Corp lessened its stake in Royal Caribbean Cruises Ltd (NYSE:RCL) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,588,143 shares of the company’s stock after selling 50,831 shares during the period. Bank of New York Mellon Corp owned about 0.76% of Royal Caribbean Cruises worth $164,532,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank lifted its stake in shares of Royal Caribbean Cruises by 2.8% in 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. Davy Asset Management Ltd bought a new stake in shares of Royal Caribbean Cruises in the 2nd quarter valued at about $1,314,000. Putnam Investments LLC lifted its stake in shares of Royal Caribbean Cruises by 3.9% in 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. Field & Main Bank lifted its stake in shares of Royal Caribbean Cruises by 9.1% in the 2nd quarter. Field & Main Bank now owns 8,355 shares of the company’s stock valued at $942,000 after acquiring an additional 695 shares during the last quarter. Finally, Kalos Management Inc. bought a new stake in shares of Royal Caribbean Cruises in the 2nd quarter valued at about $2,266,000. 71.29% of the stock is owned by institutional investors.
In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 6,600 shares of the company’s 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.26% of the stock is currently owned by corporate insiders.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Thursday, October 25th. The company reported $3.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.82 billion. On average, analysts expect 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 is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.65%. Royal Caribbean Cruises’s dividend payout ratio is 37.18%.
RCL has been the subject of a number of recent research reports. ValuEngine raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Stifel Nicolaus reduced their price target on Royal Caribbean Cruises from $153.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, July 24th. Barclays assumed coverage on Royal Caribbean Cruises in a report on Friday, August 3rd. They set an “overweight” rating on the stock. Zacks Investment Research upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Wednesday, August 8th. Finally, Citigroup reduced their price target on Royal Caribbean Cruises from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Friday, August 17th. One research 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 stock presently has an average rating of “Buy” and an average target price of $140.33.
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.
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