State Board of Administration of Florida Retirement System grew its position in Royal Caribbean Cruises Ltd (NYSE:RCL) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 259,363 shares of the company’s stock after acquiring an additional 9,150 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.12% of Royal Caribbean Cruises worth $26,870,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fred Alger Management Inc. raised its stake in shares of Royal Caribbean Cruises by 60.8% in the second quarter. Fred Alger Management Inc. now owns 15,898 shares of the company’s stock valued at $1,647,000 after acquiring an additional 6,012 shares during the period. NN Investment Partners Holdings N.V. raised its stake in shares of Royal Caribbean Cruises by 58.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 179,547 shares of the company’s stock valued at $18,602,000 after acquiring an additional 66,404 shares during the period. Roof Advisory Group Inc. purchased a new stake in shares of Royal Caribbean Cruises in the second quarter valued at $3,216,000. AdvisorNet Financial Inc purchased a new stake in shares of Royal Caribbean Cruises in the second quarter valued at $207,000. Finally, Rampart Investment Management Company LLC raised its stake in shares of Royal Caribbean Cruises by 587.4% in the first quarter. Rampart Investment Management Company LLC now owns 16,043 shares of the company’s stock valued at $1,889,000 after acquiring an additional 13,709 shares during the period. 70.20% of the stock is currently owned by institutional investors and hedge funds.

In other Royal Caribbean Cruises news, CEO Richard D. Fain sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $108.22, for a total transaction of $2,164,400.00. Following the transaction, the chief executive officer now owns 859,337 shares of the company’s stock, valued at approximately $92,997,450.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.26% of the company’s stock.

Several brokerages have recently weighed in on RCL. Stifel Nicolaus reissued a “buy” rating on shares of Royal Caribbean Cruises in a research note on Thursday, April 19th. Zacks Investment Research downgraded shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Wednesday, April 25th. Barclays assumed coverage on shares of Royal Caribbean Cruises in a research note on Friday, August 3rd. They issued an “overweight” rating on the stock. JPMorgan Chase & Co. raised their price target on shares of Royal Caribbean Cruises from $150.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, June 15th. Finally, ValuEngine raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Royal Caribbean Cruises currently has an average rating of “Buy” and a consensus target price of $137.29.

NYSE RCL opened at $115.49 on Friday. The company has a current ratio of 0.20, a quick ratio of 0.18 and a debt-to-equity ratio of 0.68. The stock has a market cap of $23.75 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 0.80 and a beta of 1.17. Royal Caribbean Cruises Ltd has a one year low of $101.20 and a one year high of $135.65.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Thursday, August 2nd. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.30. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.34 billion. Royal Caribbean Cruises had a net margin of 19.31% and a return on equity of 16.50%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.71 EPS. equities research analysts expect that Royal Caribbean Cruises Ltd will post 8.9 EPS for the current year.

Royal Caribbean Cruises declared that its board has approved a share repurchase plan on Wednesday, May 9th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 4.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

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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