Royal Bank of Canada Grows Position in Viking Holdings Ltd. $VIK

Key Points

• Royal Bank of Canada increased its Viking Holdings stake by 21% in the first quarter, bringing its holdings to 341,026 shares valued at approximately $25.1 million. Institutional investors collectively own 98.84% of the company.
• Analyst sentiment is largely positive, with Viking receiving a “Moderate Buy” consensus rating and an average price target of $104.06; several firms recently raised targets as high as $121.
• Viking shares opened at $107.72, near their 52-week high of $109.32. Recent quarterly revenue rose 17.5% year over year to $1.05 billion, while an executive sold roughly $1.05 million of stock.

Royal Bank of Canada grew its holdings in shares of Viking Holdings Ltd. (NYSE:VIK - Free Report) by 21.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 341,026 shares of the company's stock after acquiring an additional 59,108 shares during the quarter. Royal Bank of Canada owned about 0.08% of Viking worth $25,058,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Empowered Funds LLC raised its stake in Viking by 2,599.9% in the first quarter. Empowered Funds LLC now owns 107,969 shares of the company's stock valued at $7,934,000 after purchasing an additional 103,970 shares in the last quarter. Evercore Wealth Management LLC increased its holdings in shares of Viking by 0.9% in the 1st quarter. Evercore Wealth Management LLC now owns 1,672,216 shares of the company's stock worth $122,874,000 after buying an additional 14,465 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Viking by 19.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 581,948 shares of the company's stock valued at $42,762,000 after buying an additional 96,166 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of Viking by 93.3% during the 1st quarter. Quantinno Capital Management LP now owns 35,755 shares of the company's stock valued at $2,627,000 after buying an additional 17,259 shares in the last quarter. Finally, Clough Capital Partners L P raised its position in shares of Viking by 11.6% during the 1st quarter. Clough Capital Partners L P now owns 32,868 shares of the company's stock valued at $2,415,000 after buying an additional 3,416 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Insider Activity

In other Viking news, EVP Richard Marnell sold 11,287 shares of the business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $92.85, for a total value of $1,047,997.95. Following the transaction, the executive vice president owned 117,050 shares in the company, valued at approximately $10,868,092.50. The trade was a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 17,566 shares of company stock valued at $1,640,166 in the last 90 days.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Mizuho increased their target price on Viking from $69.00 to $75.00 and gave the company an "underperform" rating in a research note on Friday, May 15th. BNP Paribas Exane reiterated an "outperform" rating and issued a $121.00 price objective (up from $104.00) on shares of Viking in a report on Tuesday, July 14th. BMO Capital Markets initiated coverage on Viking in a research report on Tuesday, July 7th. They set an "outperform" rating and a $115.00 price objective on the stock. Jefferies Financial Group raised their price objective on Viking from $100.00 to $115.00 and gave the company a "buy" rating in a report on Friday, July 17th. Finally, Weiss Ratings downgraded Viking from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $104.06.

Viking Stock Up 1.2%

Shares of Viking stock opened at $107.72 on Wednesday. The company has a debt-to-equity ratio of 5.27, a quick ratio of 0.76 and a current ratio of 0.78. Viking Holdings Ltd. has a 52-week low of $55.55 and a 52-week high of $109.32. The stock has a market capitalization of $48.01 billion, a price-to-earnings ratio of 40.04, a P/E/G ratio of 1.22 and a beta of 1.50. The company's 50 day moving average price is $98.00 and its 200-day moving average price is $84.02.

Viking (NYSE:VIK - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.11) EPS for the quarter, meeting analysts' consensus estimates of ($0.11). The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. Viking had a net margin of 18.00% and a return on equity of 149.40%. The firm's revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.24) EPS. Equities research analysts forecast that Viking Holdings Ltd. will post 3.32 EPS for the current year.

Viking Profile

Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. It operates through River and Ocean segments. The company also operates as a tour entrepreneur for passengers and related activities in tourism. As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source