TD Asset Management Inc. Reduces Position in Royal Caribbean Cruises Ltd (RCL)
TD Asset Management Inc. reduced its position in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 189,511 shares of the company’s stock after selling 5,146 shares during the period. TD Asset Management Inc. owned approximately 0.09% of Royal Caribbean Cruises worth $22,465,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. TLP Group LLC purchased a new stake in Royal Caribbean Cruises during the second quarter valued at about $105,000. Acrospire Investment Management LLC raised its position in Royal Caribbean Cruises by 25.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock valued at $109,000 after purchasing an additional 200 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in Royal Caribbean Cruises during the third quarter valued at about $119,000. Pinebridge Investments L.P. purchased a new stake in Royal Caribbean Cruises during the second quarter valued at about $121,000. Finally, ClariVest Asset Management LLC purchased a new stake in Royal Caribbean Cruises during the third quarter valued at about $142,000. 73.28% of the stock is owned by institutional investors and hedge funds.
Shares of Royal Caribbean Cruises Ltd (NYSE:RCL) traded down $1.10 during midday trading on Thursday, hitting $124.70. 1,062,500 shares of the stock traded hands, compared to its average volume of 1,555,611. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.13. The stock has a market cap of $26,932.38, a PE ratio of 16.95, a price-to-earnings-growth ratio of 0.75 and a beta of 1.07. Royal Caribbean Cruises Ltd has a 52-week low of $78.77 and a 52-week high of $133.75.
Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, November 7th. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.06. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Royal Caribbean Cruises had a net margin of 18.41% and a return on equity of 16.64%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.20 EPS. equities analysts forecast that Royal Caribbean Cruises Ltd will post 7.39 EPS for the current fiscal year.
A number of equities research analysts have weighed in on RCL shares. Nomura raised their price target on Royal Caribbean Cruises from $131.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. UBS reiterated a “buy” rating and issued a $131.00 price target (up previously from $112.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, August 8th. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a research note on Friday, August 4th. Berenberg Bank reiterated a “buy” rating and issued a $135.00 price target on shares of Royal Caribbean Cruises in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $134.00 price target on shares of Royal Caribbean Cruises in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Royal Caribbean Cruises has an average rating of “Buy” and a consensus target price of $126.33.
In other news, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $121.29, for a total transaction of $2,425,800.00. Following the sale, the chief executive officer now directly owns 927,741 shares in the company, valued at approximately $112,525,705.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 60,000 shares of company stock worth $7,415,000 over the last 90 days. Corporate 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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