Doyle Wealth Management Acquires New Position in Royal Caribbean Cruises Ltd (RCL)

Doyle Wealth Management acquired a new stake in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,026 shares of the company’s stock, valued at approximately $263,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Principal Financial Group Inc. increased its stake in Royal Caribbean Cruises by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 484,214 shares of the company’s stock worth $57,011,000 after acquiring an additional 12,603 shares during the last quarter. Townsend & Associates Inc bought a new position in Royal Caribbean Cruises in the 2nd quarter worth about $1,772,000. Fred Alger Management Inc. increased its stake in Royal Caribbean Cruises by 60.8% in the 2nd quarter. Fred Alger Management Inc. now owns 15,898 shares of the company’s stock worth $1,647,000 after acquiring an additional 6,012 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Royal Caribbean Cruises by 20.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,350 shares of the company’s stock worth $1,072,000 after acquiring an additional 1,790 shares during the last quarter. Finally, Exane Derivatives increased its stake in Royal Caribbean Cruises by 1,299.6% in the 2nd quarter. Exane Derivatives now owns 14,234 shares of the company’s stock worth $1,474,000 after acquiring an additional 13,217 shares during the last quarter. 71.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of Royal Caribbean Cruises stock opened at $106.24 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 0.19. The stock has a market cap of $22.40 billion, a PE ratio of 14.11, a PEG ratio of 0.88 and a beta of 1.34. Royal Caribbean Cruises Ltd has a 12 month low of $97.48 and a 12 month high of $135.65.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Thursday, October 25th. The company reported $3.98 EPS for the quarter, beating the consensus estimate of $3.97 by $0.01. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.82 billion. Royal Caribbean Cruises had a return on equity of 16.93% and a net margin of 19.46%. Research analysts forecast that Royal Caribbean Cruises Ltd will post 8.83 EPS for the current year.

A number of equities analysts have weighed in on RCL shares. Stifel Nicolaus upped their target price on Royal Caribbean Cruises from $147.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, September 24th. Citigroup decreased their target price on 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. Zacks Investment Research lowered Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Morgan Stanley upped their target price on Royal Caribbean Cruises from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Thursday, September 6th. Finally, ValuEngine upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Friday, August 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $139.29.

In other 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 transaction, the executive vice president now directly owns 26,165 shares in the company, valued at approximately $3,285,015.75. The sale was disclosed in a filing with the Securities & Exchange Commission, 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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Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

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