California State Teachers Retirement System expands Royal Caribbean holding
The fund reported a significant second-quarter increase in its stake through a Form 13F filing with the SEC.
California State Teachers Retirement System increased its stake in Royal Caribbean Cruises Ltd. by 34,251.2% in the second quarter, according to its Form 13F filing with the Securities and Exchange Commission. The fund reported owning 118,498,068 shares after purchasing an additional 118,153,108 shares during the period.
Hedge funds and other institutional investors owned 87.53% of Royal Caribbean’s stock.
Royal Caribbean reported quarterly earnings of $4.21 per share, compared with analysts’ consensus estimate of $3.98 per share. The cruise company posted quarterly revenue of $4.83 billion, slightly above analysts’ estimate of $4.82 billion. Revenue rose 6.5% from the same period a year earlier.
The company also disclosed a quarterly dividend of $1.50 per share. In a separate transaction, Chief Executive Michael Bayley sold 12,811 Royal Caribbean shares at an average price of $315.99 each. The transaction totaled $4,048,147.89.
