Royal Bank of Canada Acquires 59,108 Shares of Viking Holdings Ltd. $VIK

Royal Bank of Canada grew its holdings in shares of Viking Holdings Ltd. (NYSE:VIK) by 21.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 341,026 shares of the company’s stock after acquiring an additional 59,108 shares during the quarter. Royal Bank of Canada’s holdings in Viking were worth $25,058,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VIK. NewEdge Advisors LLC lifted its stake in Viking by 92.0% in the first quarter. NewEdge Advisors LLC now owns 1,440 shares of the company’s stock worth $57,000 after acquiring an additional 690 shares during the period. Prudential Financial Inc. purchased a new position in Viking during the 2nd quarter valued at $303,000. Daiwa Securities Group Inc. bought a new position in Viking in the 2nd quarter worth $922,000. State Street Corp raised its holdings in Viking by 34,748.5% in the 2nd quarter. State Street Corp now owns 1,812,120 shares of the company’s stock worth $96,568,000 after purchasing an additional 1,806,920 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its position in shares of Viking by 275.0% in the 2nd quarter. Nebula Research & Development LLC now owns 30,257 shares of the company’s stock worth $1,612,000 after purchasing an additional 22,188 shares during the period. Institutional investors own 98.84% of the company’s stock.

Viking Stock Up 1.2%

Shares of Viking stock opened at $107.72 on Wednesday. The company has a 50-day simple moving average of $98.00 and a two-hundred day simple moving average of $84.02. The stock has a market capitalization of $48.01 billion, a PE ratio of 40.04, a price-to-earnings-growth ratio of 1.22 and a beta of 1.50. Viking Holdings Ltd. has a 52-week low of $55.55 and a 52-week high of $109.32. 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 (NYSE:VIK) 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). Viking had a net margin of 18.00% and a return on equity of 149.40%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company posted ($0.24) earnings per share. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, analysts anticipate that Viking Holdings Ltd. will post 3.32 EPS for the current fiscal year.

Insider Transactions at Viking

In other Viking news, EVP Richard Marnell sold 11,287 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $92.85, for a total transaction of $1,047,997.95. Following the sale, the executive vice president directly owned 117,050 shares in the company, valued at approximately $10,868,092.50. This trade represents a 8.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 17,566 shares of company stock valued at $1,640,166.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VIK. Weiss Ratings lowered shares of Viking from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. UBS Group reissued a “buy” rating and issued a $100.00 price target on shares of Viking in a research note on Wednesday, May 27th. Wall Street Zen lowered shares of Viking from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Wells Fargo & Company raised Viking from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $79.00 to $109.00 in a research report on Monday, May 18th. Finally, Susquehanna upped their target price on Viking from $100.00 to $105.00 and gave the stock a “positive” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $104.06.

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.