Adirondack Trust Co. Has $67,000 Position in Royal Caribbean Cruises Ltd (NYSE:RCL)

Adirondack Trust Co. reduced its holdings in Royal Caribbean Cruises Ltd (NYSE:RCL) by 34.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 618 shares of the company’s stock after selling 320 shares during the period. Adirondack Trust Co.’s holdings in Royal Caribbean Cruises were worth $67,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RCL. Front Row Advisors LLC increased its stake in Royal Caribbean Cruises by 475.0% in the 1st quarter. Front Row Advisors LLC now owns 230 shares of the company’s stock valued at $27,000 after buying an additional 190 shares during the last quarter. FinTrust Capital Advisors LLC increased its stake in Royal Caribbean Cruises by 5,040.0% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 257 shares of the company’s stock valued at $31,000 after buying an additional 252 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in Royal Caribbean Cruises in the 3rd quarter valued at $33,000. Central Bank & Trust Co. acquired a new stake in Royal Caribbean Cruises in the 2nd quarter valued at $37,000. Finally, Archford Capital Strategies LLC increased its stake in Royal Caribbean Cruises by 814.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 393 shares of the company’s stock valued at $48,000 after buying an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 72.80% of the company’s stock.

In related news, CEO Lawrence R. Pimentel sold 10,518 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $108.25, for a total value of $1,138,573.50. Following the transaction, the chief executive officer now owns 55,909 shares in the company, valued at approximately $6,052,149.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $108.46, for a total transaction of $2,169,200.00. Following the completion of the transaction, the chief executive officer now owns 905,651 shares in the company, valued at approximately $98,226,907.46. The disclosure for this sale can be found here. Insiders have sold a total of 70,518 shares of company stock worth $7,625,374 over the last 90 days. 13.07% of the stock is owned by company insiders.

Several brokerages have issued reports on RCL. Wells Fargo & Co lifted their price target on shares of Royal Caribbean Cruises from $155.00 to $158.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. ValuEngine upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Argus lowered shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Stifel Nicolaus boosted their price objective on shares of Royal Caribbean Cruises from $150.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Deutsche Bank lowered their price objective on shares of Royal Caribbean Cruises from $145.00 to $139.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $144.30.

Shares of Royal Caribbean Cruises stock traded up $0.85 during trading on Wednesday, hitting $101.88. 944,915 shares of the stock were exchanged, compared to its average volume of 1,589,178. The stock has a market capitalization of $21.65 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 1.02 and a beta of 1.40. The company has a fifty day moving average price of $107.27 and a 200-day moving average price of $115.22. Royal Caribbean Cruises Ltd has a 1-year low of $89.48 and a 1-year high of $131.04. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 0.83.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.09. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.79 billion. Royal Caribbean Cruises had a net margin of 17.82% and a return on equity of 17.39%. Royal Caribbean Cruises’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.27 EPS. Equities research analysts forecast that Royal Caribbean Cruises Ltd will post 9.63 EPS for the current fiscal year.

The company also recently disclosed a 0.70000 dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a dividend yield of 2.8%. Royal Caribbean Cruises’s dividend payout ratio is presently 35.21%.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea 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.

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

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