Rockefeller Financial Services Inc. Has $111.86 Million Stake in Royal Caribbean Cruises Ltd. (RCL)

Rockefeller Financial Services Inc. cut its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,024,058 shares of the company’s stock after selling 38,041 shares during the period. Royal Caribbean Cruises makes up approximately 2.2% of Rockefeller Financial Services Inc.’s portfolio, making the stock its 10th largest position. Rockefeller Financial Services Inc. owned approximately 0.48% of Royal Caribbean Cruises worth $111,858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Preferred LLC bought a new stake in shares of Royal Caribbean Cruises during the first quarter valued at approximately $103,000. NEXT Financial Group Inc boosted its stake in shares of Royal Caribbean Cruises by 25.0% in the first quarter. NEXT Financial Group Inc now owns 1,000 shares of the company’s stock valued at $107,000 after buying an additional 200 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Royal Caribbean Cruises during the first quarter valued at approximately $119,000. Whittier Trust Co. boosted its stake in shares of Royal Caribbean Cruises by 24.4% in the first quarter. Whittier Trust Co. now owns 1,266 shares of the company’s stock valued at $124,000 after buying an additional 248 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Royal Caribbean Cruises by 447.1% in the first quarter. Acadian Asset Management LLC now owns 1,778 shares of the company’s stock valued at $174,000 after buying an additional 1,453 shares during the last quarter. 71.14% of the stock is owned by institutional investors.

Shares of Royal Caribbean Cruises Ltd. (NYSE RCL) traded up 0.489% during trading on Tuesday, reaching $112.035. 641,165 shares of the company’s stock were exchanged. The company has a 50 day moving average of $110.11 and a 200 day moving average of $98.24. The stock has a market cap of $24.10 billion, a P/E ratio of 17.316 and a beta of 1.06. Royal Caribbean Cruises Ltd. has a 12-month low of $65.10 and a 12-month high of $115.63.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Friday, April 28th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.02 billion. Royal Caribbean Cruises had a net margin of 16.29% and a return on equity of 15.91%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post $7.23 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Friday, June 2nd were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Wednesday, May 31st. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 29.68%.

Royal Caribbean Cruises declared that its Board of Directors has authorized a share repurchase plan on Friday, April 28th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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Several brokerages have commented on RCL. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $128.00 price target on the stock in a research note on Thursday, June 22nd. ValuEngine upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Wells Fargo & Company reiterated an “outperform” rating and issued a $119.50 price target (up previously from $117.50) on shares of Royal Caribbean Cruises in a research note on Tuesday, May 2nd. Finally, Deutsche Bank AG decreased their price target on shares of Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating on the stock in a research note on Tuesday, May 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $102.57.

In related news, CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $107.77, for a total value of $2,155,400.00. Following the completion of the transaction, the chief executive officer now owns 1,007,741 shares in the company, valued at $108,604,247.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Harri U. Kulovaara sold 7,527 shares of Royal Caribbean Cruises stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $110.00, for a total transaction of $827,970.00. Following the completion of the transaction, the executive vice president now owns 29,667 shares of the company’s stock, valued at approximately $3,263,370. The disclosure for this sale can be found here. Insiders sold 47,527 shares of company stock valued at $5,175,770 in the last 90 days. Company insiders own 15.30% of the company’s stock.

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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