Beutel Goodman & Co Ltd. Acquires 143,617 Shares of Royal Caribbean Cruises Ltd. $RCL

Key Points

• Beutel Goodman increased its Royal Caribbean stake by 16.9% in the third quarter, buying 143,617 shares to bring its holdings to 993,719 shares, worth about $264.2 million.
• Royal Caribbean reported quarterly EPS of $6.57, beating the $6.38 analyst consensus, while revenue of $5.59 billion fell slightly short of estimates but rose 8.8% year over year.
• Analysts maintain a Moderate Buy consensus, with an average price target of $355.62; the company also pays an annualized dividend of $6 per share, a 1.8% yield.

Beutel Goodman & Co Ltd. grew its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 16.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 993,719 shares of the company's stock after purchasing an additional 143,617 shares during the quarter. Royal Caribbean Cruises comprises about 2.1% of Beutel Goodman & Co Ltd.'s investment portfolio, making the stock its 16th biggest position. Beutel Goodman & Co Ltd. owned approximately 0.37% of Royal Caribbean Cruises worth $264,190,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of RCL. IMG Wealth Management Inc. bought a new stake in Royal Caribbean Cruises in the first quarter worth $27,000. Lynch Investment Planning LLC acquired a new position in Royal Caribbean Cruises during the third quarter worth $27,000. Foresight Capital Management Advisors Inc. acquired a new position in Royal Caribbean Cruises during the third quarter worth $27,000. CrossGen Wealth LLC bought a new position in Royal Caribbean Cruises during the third quarter valued at about $27,000. Finally, Main Street Group LTD bought a new position in Royal Caribbean Cruises during the first quarter valued at about $28,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Royal Caribbean Cruises Price Performance

NYSE RCL opened at $337.18 on Tuesday. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.69. The company has a fifty day simple moving average of $276.38 and a 200 day simple moving average of $288.17. The company has a market cap of $90.19 billion, a P/E ratio of 19.39, a P/E/G ratio of 1.16 and a beta of 1.88. Royal Caribbean Cruises Ltd. has a 1 year low of $222.22 and a 1 year high of $356.39.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its earnings results on Tuesday, October 27th. The company reported $6.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.38 by $0.19. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.61 billion. Royal Caribbean Cruises had a net margin of 23.78% and a return on equity of 43.40%. Royal Caribbean Cruises's revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business posted $5.75 EPS. On average, sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 17.94 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Thursday, September 17th. Royal Caribbean Cruises's dividend payout ratio is 35.52%.

Analysts Set New Price Targets

A number of analysts have weighed in on RCL shares. JPMorgan Chase & Co. boosted their price target on Royal Caribbean Cruises from $345.00 to $394.00 and gave the stock an "overweight" rating in a research report on Thursday, September 24th. TD Cowen upped their price target on Royal Caribbean Cruises from $337.00 to $340.00 and gave the stock a "buy" rating in a research note on Tuesday, October 20th. Tigress Financial reissued a "buy" rating and set a $425.00 price objective on shares of Royal Caribbean Cruises in a report on Monday, September 28th. Loop Capital raised their price objective on Royal Caribbean Cruises from $304.00 to $327.00 in a research note on Wednesday, July 29th. Finally, Susquehanna raised their price objective on Royal Caribbean Cruises from $355.00 to $360.00 and gave the company a "positive" rating in a research note on Wednesday, October 28th. Twenty-one investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $355.62.

Insider Activity

In other news, Director Maritza Montiel sold 400 shares of Royal Caribbean Cruises stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $307.21, for a total value of $122,884.00. Following the transaction, the director directly owned 13,202 shares in the company, valued at approximately $4,055,786.42. The trade was a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arne Wilhelmsen sold 30,000 shares of the business's stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $323.23, for a total value of $9,696,900.00. Following the transaction, the director directly owned 16,185,910 shares of the company's stock, valued at $5,231,771,689.30. This represents a 0.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 250,400 shares of company stock worth $82,263,584. 6.44% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Profile

Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a global cruise vacation company. Its brands include Royal Caribbean International, Celebrity Cruises and Silversea Cruises, which offer voyages ranging from large-ship family vacations to premium and luxury experiences.

The company serves travelers through itineraries to destinations around the world, including the Caribbean, Europe, Alaska and Asia. Its vacation offerings combine onboard accommodations, dining and entertainment with shore excursions and visits to ports and private destinations.

Founded in 1968, the company is headquartered in Miami, Florida.

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