Royal Caribbean Cruises Ltd (RCL) Shares Sold by Aviva PLC

Aviva PLC trimmed its position in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,381 shares of the company’s stock after selling 3,297 shares during the quarter. Aviva PLC’s holdings in Royal Caribbean Cruises were worth $8,845,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of Royal Caribbean Cruises by 1.5% during the first quarter. American Century Companies Inc. now owns 2,411,052 shares of the company’s stock worth $283,877,000 after purchasing an additional 35,177 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Royal Caribbean Cruises by 9.1% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,378,897 shares of the company’s stock valued at $280,091,000 after acquiring an additional 197,746 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Royal Caribbean Cruises by 19.0% in the 1st quarter. Wells Fargo & Company MN now owns 1,469,759 shares of the company’s stock worth $173,050,000 after buying an additional 234,476 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in Royal Caribbean Cruises by 17.6% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,377,895 shares of the company’s stock worth $142,750,000 after buying an additional 206,047 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in shares of Royal Caribbean Cruises by 4.1% in the 1st quarter. Eagle Asset Management Inc. now owns 673,605 shares of the company’s stock valued at $79,310,000 after purchasing an additional 26,491 shares in the last quarter. 70.95% of the stock is owned by hedge funds and other institutional investors.

Shares of RCL traded down $0.33 during mid-day trading on Friday, reaching $122.58. The company had a trading volume of 936,700 shares, compared to its average volume of 1,745,563. The stock has a market cap of $25.11 billion, a PE ratio of 16.36, a PEG ratio of 0.85 and a beta of 1.17. Royal Caribbean Cruises Ltd has a twelve month low of $101.20 and a twelve month high of $135.65. The company has a current ratio of 0.20, a quick ratio of 0.18 and a debt-to-equity ratio of 0.68.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $2.27 EPS for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.30. Royal Caribbean Cruises had a return on equity of 16.50% and a net margin of 19.31%. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the company earned $1.71 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. sell-side analysts forecast that Royal Caribbean Cruises Ltd will post 8.9 EPS for the current fiscal year.

Royal Caribbean Cruises announced that its board has initiated a share repurchase plan on Wednesday, May 9th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Several research firms have issued reports on RCL. Citigroup dropped their price objective 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 research report on Friday, August 3rd. They set an “overweight” rating for the company. ValuEngine upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Deutsche Bank raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $135.00 to $146.00 in a research note on Wednesday. Finally, Zacks Investment Research raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Wednesday, August 8th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $139.07.

In related news, CEO Richard D. Fain sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $108.22, for a total transaction of $2,164,400.00. Following the sale, the chief executive officer now owns 859,337 shares of the company’s stock, valued at approximately $92,997,450.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.26% of the company’s stock.

Royal Caribbean Cruises 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.

Further Reading: What is the Book Value of a Share?

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

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