Westpac Banking Corp Buys 2,172 Shares of Royal Caribbean Cruises Ltd. (RCL)
Westpac Banking Corp increased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 30.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,404 shares of the company’s stock after buying an additional 2,172 shares during the period. Westpac Banking Corp’s holdings in Royal Caribbean Cruises were worth $631,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. MU Investments Co. Ltd. acquired a new stake in Royal Caribbean Cruises during the second quarter worth approximately $109,000. IFP Advisors Inc raised its stake in Royal Caribbean Cruises by 33.3% in the first quarter. IFP Advisors Inc now owns 1,416 shares of the company’s stock worth $116,000 after buying an additional 354 shares during the period. Mizuho Asset Management Co. Ltd. raised its stake in Royal Caribbean Cruises by 86.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,321 shares of the company’s stock worth $156,000 after buying an additional 1,075 shares during the period. Invictus RG acquired a new stake in Royal Caribbean Cruises during the first quarter worth approximately $164,000. Finally, Hartwell J M Limited Partnership acquired a new stake in Royal Caribbean Cruises during the second quarter worth approximately $212,000. 75.04% of the stock is owned by institutional investors and hedge funds.
Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) opened at 74.59 on Wednesday. The firm has a market cap of $16.06 billion, a P/E ratio of 21.29 and a beta of 1.65. The company has a 50 day moving average price of $70.20 and a 200-day moving average price of $73.72. Royal Caribbean Cruises Ltd. has a 52-week low of $64.21 and a 52-week high of $103.40.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.07. Royal Caribbean Cruises had a net margin of 9.05% and a return on equity of 14.76%. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts expect that Royal Caribbean Cruises Ltd. will post $6.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Thursday, September 29th will be paid a $0.48 dividend. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Tuesday, September 27th. This represents a $1.92 annualized dividend and a dividend yield of 2.55%. Royal Caribbean Cruises’s payout ratio is currently 55.01%.
A number of research firms recently commented on RCL. Argus lowered Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Wednesday, September 7th. Stifel Nicolaus decreased their price objective on Royal Caribbean Cruises from $94.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. Sterne Agee CRT started coverage on Royal Caribbean Cruises in a research report on Tuesday, June 7th. They issued a “neutral” rating and a $83.00 price objective on the stock. Finally, Macquarie started coverage on Royal Caribbean Cruises in a research report on Tuesday. They issued an “outperform” rating on the stock. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $93.39.
In other news, Director Vagn O. Sorensen purchased 1,100 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were acquired at an average price of $70.50 per share, with a total value of $77,550.00. Following the completion of the transaction, the director now owns 18,871 shares of the company’s stock, valued at approximately $1,330,405.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lisa Lutoff-Perlo sold 6,790 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $74.46, for a total transaction of $505,583.40. Following the sale, the chief executive officer now directly owns 34,450 shares in the company, valued at approximately $2,565,147. The disclosure for this sale can be found here. 16.80% of the stock is currently owned by corporate insiders.
About Royal Caribbean Cruises
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns various brands, such as Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisieres de France and joint venture interest in TUI Cruises. It operates approximately 23 ships with an aggregate capacity of approximately 68,600 berths under its Royal Caribbean International brand, offering cruise itineraries that range from 2 to 24 nights.
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