Huntington National Bank Raises Holdings in Royal Caribbean Cruises Ltd (RCL)
Huntington National Bank raised its position in Royal Caribbean Cruises Ltd (NYSE:RCL) by 34.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 958 shares of the company’s stock after buying an additional 248 shares during the quarter. Huntington National Bank’s holdings in Royal Caribbean Cruises were worth $110,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of RCL. LPL Financial LLC grew its position in shares of Royal Caribbean Cruises by 28.1% in the third quarter. LPL Financial LLC now owns 14,970 shares of the company’s stock valued at $1,945,000 after purchasing an additional 3,283 shares in the last quarter. Capital World Investors purchased a new position in shares of Royal Caribbean Cruises in the third quarter valued at $12,084,000. The Manufacturers Life Insurance Company grew its position in shares of Royal Caribbean Cruises by 763.2% in the third quarter. The Manufacturers Life Insurance Company now owns 134,903 shares of the company’s stock valued at $17,530,000 after purchasing an additional 119,275 shares in the last quarter. Verition Fund Management LLC grew its position in shares of Royal Caribbean Cruises by 53.6% in the third quarter. Verition Fund Management LLC now owns 8,420 shares of the company’s stock valued at $1,094,000 after purchasing an additional 2,938 shares in the last quarter. Finally, Putnam Investments LLC grew its position in shares of Royal Caribbean Cruises by 0.5% in the third quarter. Putnam Investments LLC now owns 217,649 shares of the company’s stock valued at $28,281,000 after purchasing an additional 1,010 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.
In related news, CEO Michael W. Bayley sold 7,115 shares of the business’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $116.15, for a total transaction of $826,407.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason T. Liberty sold 13,000 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $121.79, for a total value of $1,583,270.00. Following the transaction, the chief financial officer now owns 48,811 shares of the company’s stock, valued at $5,944,691.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,447 shares of company stock valued at $8,271,277. 15.26% of the stock is owned by company insiders.
Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Wednesday, January 30th. The company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. Royal Caribbean Cruises had a return on equity of 17.08% and a net margin of 19.08%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the business earned $7.53 earnings per share. The firm’s revenue was up 16.4% on a year-over-year basis. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd will post 9.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Thursday, March 7th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Wednesday, March 6th. Royal Caribbean Cruises’s payout ratio is 31.60%.
RCL has been the subject of several recent research reports. Zacks Investment Research upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $134.00 price target for the company in a research report on Monday, February 4th. Wells Fargo & Co lifted their price target on Royal Caribbean Cruises from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, February 25th. Finally, ValuEngine cut Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research report on Friday, January 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $140.83.
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Royal Caribbean Cruises Profile
Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea 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: Outstanding Shares
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