Lord Abbett & CO. LLC Sells 38,300 Shares of Royal Caribbean Cruises Ltd. (RCL)

Lord Abbett & CO. LLC trimmed its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 4.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 746,907 shares of the company’s stock after selling 38,300 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.35% of Royal Caribbean Cruises worth $81,585,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dynamic Capital Management Ltd grew its position in Royal Caribbean Cruises by 55.5% during the first quarter. Dynamic Capital Management Ltd now owns 35,502 shares of the company’s stock valued at $3,483,000 after buying an additional 12,675 shares during the period. Sheets Smith Wealth Management bought a new stake in Royal Caribbean Cruises during the second quarter valued at approximately $290,000. Intrust Bank NA grew its position in Royal Caribbean Cruises by 2.7% during the second quarter. Intrust Bank NA now owns 2,356 shares of the company’s stock valued at $258,000 after buying an additional 61 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Royal Caribbean Cruises by 9.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,161 shares of the company’s stock valued at $4,278,000 after buying an additional 3,472 shares during the period. Finally, Oakbrook Investments LLC grew its position in Royal Caribbean Cruises by 18.4% during the second quarter. Oakbrook Investments LLC now owns 13,670 shares of the company’s stock valued at $1,493,000 after buying an additional 2,120 shares during the period. Institutional investors own 71.49% of the company’s stock.

Several analysts recently issued reports on the stock. SunTrust Banks, Inc. restated a “buy” rating and set a $126.00 target price on shares of Royal Caribbean Cruises in a research report on Sunday. Argus boosted their target price on shares of Royal Caribbean Cruises from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, October 11th. Zacks Investment Research lowered shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $134.00 price target on shares of Royal Caribbean Cruises in a research report on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Royal Caribbean Cruises currently has a consensus rating of “Buy” and a consensus target price of $123.04.

In other news, CEO Richard D. Fain sold 210,706 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $115.83, for a total transaction of $24,406,075.98. Following the transaction, the chief executive officer now owns 967,741 shares in the company, valued at approximately $112,093,440.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bernt Reitan sold 4,793 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $117.22, for a total value of $561,835.46. Following the transaction, the director now owns 7,862 shares in the company, valued at approximately $921,583.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 480,079 shares of company stock worth $56,461,455. 15.30% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Ltd. (NYSE:RCL) traded down 0.04% during midday trading on Tuesday, reaching $127.34. 270,503 shares of the company were exchanged. Royal Caribbean Cruises Ltd. has a 52 week low of $67.53 and a 52 week high of $128.09. The firm’s 50 day moving average price is $120.47 and its 200-day moving average price is $112.22. The stock has a market capitalization of $27.39 billion, a P/E ratio of 17.86 and a beta of 0.99.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the company posted $1.09 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post $7.44 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 11th. Shareholders of record on Friday, September 22nd were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.88%. The ex-dividend date was Thursday, September 21st. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. Royal Caribbean Cruises’s payout ratio is 33.71%.

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About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).

Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

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