Northwestern Mutual Wealth Management Co. raised its position in Royal Caribbean Cruises Ltd (NYSE:RCL) by 2,604.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,254 shares of the company’s stock after purchasing an additional 55,137 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Royal Caribbean Cruises were worth $7,439,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank raised its holdings in shares of Royal Caribbean Cruises by 2.8% during the 2nd quarter. Swiss National Bank now owns 565,238 shares of the company’s stock valued at $58,559,000 after buying an additional 15,600 shares during the period. Hexavest Inc. raised its holdings in shares of Royal Caribbean Cruises by 44.9% during the 3rd quarter. Hexavest Inc. now owns 542,895 shares of the company’s stock valued at $70,544,000 after buying an additional 168,242 shares during the period. Davy Asset Management Ltd purchased a new stake in shares of Royal Caribbean Cruises during the 2nd quarter valued at about $1,314,000. Legacy Capital Partners Inc. raised its holdings in shares of Royal Caribbean Cruises by 7.2% during the 3rd quarter. Legacy Capital Partners Inc. now owns 6,552 shares of the company’s stock valued at $851,000 after buying an additional 441 shares during the period. Finally, Putnam Investments LLC raised its holdings in shares of Royal Caribbean Cruises by 3.9% during the 2nd quarter. Putnam Investments LLC now owns 216,639 shares of the company’s stock valued at $22,444,000 after buying an additional 8,190 shares during the period. Institutional investors own 70.91% of the company’s stock.
Several equities research analysts recently commented on RCL shares. Citigroup dropped their target price 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. Barclays assumed coverage on Royal Caribbean Cruises in a report on Friday, August 3rd. They set an “overweight” rating on the stock. Morgan Stanley lifted their price objective on Royal Caribbean Cruises from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Thursday, September 6th. Macquarie lifted their price objective on Royal Caribbean Cruises from $103.00 to $104.00 and gave the stock a “neutral” rating in a report on Friday, October 26th. Finally, Wells Fargo & Co dropped their price objective on Royal Caribbean Cruises from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. Royal Caribbean Cruises currently has an average rating of “Buy” and an average price target of $140.33.
RCL stock opened at $106.12 on Wednesday. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. Royal Caribbean Cruises Ltd has a 52-week low of $97.48 and a 52-week high of $135.65. The company has a market cap of $22.11 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 0.87 and a beta of 1.34.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, October 25th. The company reported $3.98 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts forecast that Royal Caribbean Cruises Ltd will post 8.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 11th. Stockholders of record on Friday, September 21st were given a $0.70 dividend. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.64%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 37.18%.
In other news, EVP Harri U. Kulovaara sold 6,600 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $125.55, for a total value of $828,630.00. Following the completion of the transaction, the executive vice president now owns 26,165 shares in the company, valued at approximately $3,285,015.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.26% of the stock is currently owned by company insiders.
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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, 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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