Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Sells 699 Shares of Royal Caribbean Cruises Ltd (RCL)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its stake in Royal Caribbean Cruises Ltd (NYSE:RCL) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 22,979 shares of the company’s stock after selling 699 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Royal Caribbean Cruises were worth $2,381,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Fred Alger Management Inc. lifted its stake in Royal Caribbean Cruises by 60.8% in the second quarter. Fred Alger Management Inc. now owns 15,898 shares of the company’s stock valued at $1,647,000 after buying an additional 6,012 shares during the last quarter. NN Investment Partners Holdings N.V. lifted its stake in Royal Caribbean Cruises by 58.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 179,547 shares of the company’s stock valued at $18,602,000 after buying an additional 66,404 shares during the last quarter. ACG Wealth lifted its stake in Royal Caribbean Cruises by 6.5% in the second quarter. ACG Wealth now owns 10,618 shares of the company’s stock valued at $1,101,000 after buying an additional 650 shares during the last quarter. Palladium Partners LLC lifted its stake in Royal Caribbean Cruises by 15.1% in the second quarter. Palladium Partners LLC now owns 55,167 shares of the company’s stock valued at $5,716,000 after buying an additional 7,226 shares during the last quarter. Finally, AdvisorNet Financial Inc bought a new stake in Royal Caribbean Cruises in the second quarter valued at $207,000. Institutional investors own 70.95% of the company’s stock.

A number of equities research analysts have issued reports on the company. ValuEngine upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Friday. Citigroup cut their target price on Royal Caribbean Cruises from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Friday, August 17th. Zacks Investment Research cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Barclays assumed coverage on Royal Caribbean Cruises in a research note on Friday, August 3rd. They issued an “overweight” rating on the stock. Finally, Stifel Nicolaus cut their target price on Royal Caribbean Cruises from $153.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, July 24th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $137.20.

In related news, CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $108.22, for a total transaction of $2,164,400.00. Following the sale, the chief executive officer now directly owns 859,337 shares in the company, valued at $92,997,450.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 15.26% of the stock is owned by insiders.

Shares of NYSE RCL opened at $119.71 on Monday. Royal Caribbean Cruises Ltd has a fifty-two week low of $101.20 and a fifty-two week high of $135.65. The company has a current ratio of 0.20, a quick ratio of 0.18 and a debt-to-equity ratio of 0.68. The stock has a market cap of $25.02 billion, a P/E ratio of 15.90, a P/E/G ratio of 0.85 and a beta of 1.17.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.30. Royal Caribbean Cruises had a net margin of 19.31% and a return on equity of 16.50%. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the business earned $1.71 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. analysts predict that Royal Caribbean Cruises Ltd will post 8.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises declared that its board has initiated a share repurchase program on Wednesday, May 9th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Azamara Club Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 23 nights.

Read More: How are Outstanding Shares Different from Authorized Shares?

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

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