TD Asset Management Inc. reduced its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 8.7% during the second quarter, Holdings Channel reports. The institutional investor owned 194,657 shares of the company’s stock after selling 18,638 shares during the period. TD Asset Management Inc.’s holdings in Royal Caribbean Cruises were worth $21,262,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Eqis Capital Management Inc. increased its stake in Royal Caribbean Cruises by 0.3% in the second quarter. Eqis Capital Management Inc. now owns 2,370 shares of the company’s stock worth $259,000 after buying an additional 8 shares in the last quarter. Granahan Investment Management Inc. MA increased its stake in Royal Caribbean Cruises by 0.4% in the first quarter. Granahan Investment Management Inc. MA now owns 2,882 shares of the company’s stock worth $283,000 after buying an additional 11 shares in the last quarter. Cleararc Capital Inc. increased its stake in Royal Caribbean Cruises by 0.6% in the first quarter. Cleararc Capital Inc. now owns 4,095 shares of the company’s stock worth $402,000 after buying an additional 25 shares in the last quarter. BKD Wealth Advisors LLC increased its stake in Royal Caribbean Cruises by 1.1% in the first quarter. BKD Wealth Advisors LLC now owns 3,944 shares of the company’s stock worth $387,000 after buying an additional 42 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in Royal Caribbean Cruises by 0.3% in the second quarter. CIBC Asset Management Inc now owns 17,863 shares of the company’s stock worth $1,951,000 after buying an additional 58 shares in the last quarter. Institutional investors own 71.67% of the company’s stock.

Shares of Royal Caribbean Cruises Ltd. (RCL) opened at 117.22 on Friday. The firm’s 50-day moving average price is $113.22 and its 200-day moving average price is $104.26. Royal Caribbean Cruises Ltd. has a 12-month low of $65.10 and a 12-month high of $121.47. The stock has a market cap of $25.22 billion, a price-to-earnings ratio of 16.45 and a beta of 1.06.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.04. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 earnings per share. On average, analysts forecast that Royal Caribbean Cruises Ltd. will post $7.44 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its board has approved a stock buyback program on Friday, April 28th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

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RCL has been the topic of several analyst reports. Deutsche Bank AG reduced their price objective on 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. Stifel Nicolaus boosted their price objective on Royal Caribbean Cruises from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Nomura boosted their price objective on Royal Caribbean Cruises from $131.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Wedbush boosted their price objective on Royal Caribbean Cruises from $125.00 to $129.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Finally, Buckingham Research boosted their price objective on Royal Caribbean Cruises to $149.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have issued a buy rating to the stock. Royal Caribbean Cruises presently has a consensus rating of “Buy” and a consensus price target of $117.23.

In other Royal Caribbean Cruises news, CEO Lawrence R. Pimentel sold 17,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $120.50, for a total value of $2,048,500.00. Following the completion of the transaction, the chief executive officer now owns 20,045 shares in the company, valued at $2,415,422.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $107.77, for a total transaction of $2,155,400.00. Following the completion of the transaction, the chief executive officer now owns 1,007,741 shares of the company’s stock, valued at approximately $108,604,247.57. The disclosure for this sale can be found here. In the last 90 days, insiders sold 452,499 shares of company stock valued at $52,583,811. 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).

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

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