Trent Capital Management Inc. NC acquired a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 40,813 shares of the company’s stock, valued at approximately $4,458,000. Royal Caribbean Cruises comprises 6.6% of Trent Capital Management Inc. NC’s portfolio, making the stock its 7th largest position.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Royal Caribbean Cruises by 3,290.6% in the first quarter. BlackRock Inc. now owns 10,359,358 shares of the company’s stock valued at $1,016,356,000 after buying an additional 10,053,823 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Royal Caribbean Cruises by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,504,950 shares of the company’s stock valued at $1,619,301,000 after buying an additional 555,260 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Royal Caribbean Cruises during the second quarter valued at $55,926,000. Wells Fargo & Company MN raised its stake in shares of Royal Caribbean Cruises by 50.6% in the first quarter. Wells Fargo & Company MN now owns 1,454,631 shares of the company’s stock valued at $142,714,000 after buying an additional 488,740 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Royal Caribbean Cruises by 115.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 845,673 shares of the company’s stock valued at $82,969,000 after buying an additional 452,620 shares during the last quarter. 71.67% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Ltd. (RCL) opened at 120.49 on Thursday. Royal Caribbean Cruises Ltd. has a 12 month low of $65.10 and a 12 month high of $121.47. The firm has a 50-day moving average price of $112.98 and a 200 day moving average price of $103.94. The company has a market cap of $25.92 billion, a P/E ratio of 16.90 and a beta of 1.06.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. On average, equities analysts expect that Royal Caribbean Cruises Ltd. will post $7.43 earnings per share for the current year.

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

WARNING: “Trent Capital Management Inc. NC Takes Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)” was reported by Daily Political and is the property of of Daily Political. If you are accessing this piece on another site, it was stolen and republished in violation of United States and international copyright law. The legal version of this piece can be accessed at https://www.dailypolitical.com/2017/08/10/trent-capital-management-inc-nc-takes-position-in-royal-caribbean-cruises-ltd-nysercl.html.

Several analysts have recently weighed in on RCL shares. Zacks Investment Research lowered Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Deutsche Bank AG cut their target price on Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating for the company in a research report on Tuesday, May 2nd. Wedbush raised their target price on Royal Caribbean Cruises from $106.00 to $117.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 25th. Goldman Sachs Group, Inc. (The) raised their target price on Royal Caribbean Cruises from $90.00 to $94.00 and gave the stock a “sell” rating in a research report on Monday, May 1st. Finally, Wells Fargo & Company restated an “outperform” rating and set a $119.50 target price (up previously from $117.50) on shares of Royal Caribbean Cruises in a research report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and nineteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $117.23.

In other Royal Caribbean Cruises news, CEO Richard D. Fain sold 20,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $107.77, for a total value of $2,155,400.00. Following the sale, the chief executive officer now owns 1,007,741 shares of the company’s stock, valued at approximately $108,604,247.57. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard D. Fain sold 210,706 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $115.83, for a total value of $24,406,075.98. Following the completion of the sale, the chief executive officer now directly owns 967,741 shares in the company, valued at approximately $112,093,440.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 452,499 shares of company stock worth $52,583,811. 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).

Want to see what other hedge funds are holding RCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Caribbean Cruises Ltd. (NYSE:RCL).

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

Receive News & Ratings for Royal Caribbean Cruises Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Caribbean Cruises Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.