Royal Caribbean Cruises Ltd. $RCL Stock Acquired by Retirement Systems of Alabama

Key Points

• Retirement Systems of Alabama increased its Royal Caribbean stake by 71.2% in the third quarter, adding 126,360 shares to reach 303,838 shares valued at about $80.8 million. Institutional investors collectively own 87.53% of the company.
• Royal Caribbean reported quarterly EPS of $6.57, beating estimates of $6.38, while revenue of $5.59 billion fell slightly short of forecasts but rose 8.8% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $355.62; meanwhile, company insiders sold 250,400 shares worth about $82.3 million over the past 90 days.

Retirement Systems of Alabama grew its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 71.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 303,838 shares of the company's stock after acquiring an additional 126,360 shares during the quarter. Retirement Systems of Alabama owned about 0.11% of Royal Caribbean Cruises worth $80,778,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in Royal Caribbean Cruises by 2.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,036 shares of the company's stock worth $3,520,000 after acquiring an additional 302 shares during the last quarter. University of Texas Texas AM Investment Management Co. raised its position in Royal Caribbean Cruises by 88.8% during the third quarter. University of Texas Texas AM Investment Management Co. now owns 336 shares of the company's stock valued at $89,000 after purchasing an additional 158 shares during the period. M Holdings Securities Inc. bought a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at approximately $600,000. J. Derek Lewis & Associates Inc. lifted its stake in shares of Royal Caribbean Cruises by 12.3% in the 3rd quarter. J. Derek Lewis & Associates Inc. now owns 910 shares of the company's stock valued at $242,000 after purchasing an additional 100 shares during the last quarter. Finally, Ethic Inc. lifted its stake in shares of Royal Caribbean Cruises by 8.2% in the 3rd quarter. Ethic Inc. now owns 17,658 shares of the company's stock valued at $4,694,000 after purchasing an additional 1,344 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL opened at $337.18 on Tuesday. The company has a market capitalization of $90.19 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.16 and a beta of 1.88. The company has a quick ratio of 0.19, a current ratio of 0.22 and a debt-to-equity ratio of 1.69. Royal Caribbean Cruises Ltd. has a 52 week low of $222.22 and a 52 week high of $356.39. The firm has a 50 day moving average of $276.38 and a 200 day moving average of $288.17.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $6.57 earnings per share for the quarter, beating analysts' consensus estimates of $6.38 by $0.19. The firm 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%. The business's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $5.75 earnings per share. On average, sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 17.94 earnings per share for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Thursday, September 17th. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 35.52%.

Insider Activity

In related news, Director Arne Wilhelmsen sold 220,000 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $329.29, for a total transaction of $72,443,800.00. Following the completion of the sale, the director owned 16,215,910 shares of the company's stock, valued at $5,339,737,003.90. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Maritza Montiel sold 400 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $307.21, for a total transaction of $122,884.00. Following the completion of the transaction, the director owned 13,202 shares in the company, valued at approximately $4,055,786.42. This trade represents a 2.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 250,400 shares of company stock valued at $82,263,584. Company insiders own 6.44% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RCL. UBS Group restated a "buy" rating on shares of Royal Caribbean Cruises in a report on Wednesday, September 23rd. Wells Fargo & Company raised their price target on Royal Caribbean Cruises from $358.00 to $361.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 28th. Freedom Capital lowered shares of Royal Caribbean Cruises from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. William Blair reiterated an "outperform" rating on shares of Royal Caribbean Cruises in a research report on Tuesday, July 28th. Finally, Susquehanna boosted their price objective on shares of Royal Caribbean Cruises from $355.00 to $360.00 and gave the company a "positive" rating in a research report on Wednesday, October 28th. Twenty-one research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $355.62.

Royal Caribbean Cruises Company 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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