International Assets Investment Management LLC lowered its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL – Free Report) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,241 shares of the company’s stock after selling 157 shares during the quarter. International Assets Investment Management LLC’s holdings in Royal Caribbean Cruises were worth $460,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. boosted its position in shares of Royal Caribbean Cruises by 618.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at about $35,000. Truvestments Capital LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at about $36,000. Capital A Wealth Management LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at about $40,000. Finally, Spurstone Advisory Services LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at about $46,000. Institutional investors own 87.53% of the company’s stock.
Analysts Set New Price Targets
RCL has been the subject of a number of research analyst reports. Melius Research upgraded Royal Caribbean Cruises to a “strong-buy” rating in a research report on Monday, April 21st. Northcoast Research started coverage on Royal Caribbean Cruises in a research report on Friday, April 25th. They set a “buy” rating and a $279.00 price target for the company. Morgan Stanley boosted their target price on Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Loop Capital restated a “buy” rating and issued a $290.00 target price (up previously from $250.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, June 3rd. Finally, Truist Financial boosted their target price on Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $276.90.
Insider Activity
In related news, Director Richard D. Fain sold 19,600 shares of the company’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $253.10, for a total value of $4,960,760.00. Following the sale, the director now directly owns 165,421 shares of the company’s stock, valued at $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.95% of the company’s stock.
Royal Caribbean Cruises Price Performance
Shares of Royal Caribbean Cruises stock opened at $295.81 on Friday. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.18 and a quick ratio of 0.15. Royal Caribbean Cruises Ltd. has a one year low of $130.08 and a one year high of $297.12. The stock has a market capitalization of $80.33 billion, a P/E ratio of 24.57, a price-to-earnings-growth ratio of 0.85 and a beta of 2.14. The business’s 50 day simple moving average is $246.69 and its two-hundred day simple moving average is $235.66.
Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 47.89% and a net margin of 19.38%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the firm earned $1.77 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. Analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.
Royal Caribbean Cruises Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.01%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 24.92%.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.
Featured Stories
- Five stocks we like better than Royal Caribbean Cruises
- What Are Dividend Challengers?
- Astera Labs: AI Infrastructure Play With Significant Growth Ahead
- NYSE Stocks Give Investors a Variety of Quality Options
- Is IBM’s AI Transformation Powering a Sustained Rally?
- What Do S&P 500 Stocks Tell Investors About the Market?
- NVIDIA’s Stock Price Hits New Highs: This Is What’s Next
Want to see what other hedge funds are holding RCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Caribbean Cruises Ltd. (NYSE:RCL – Free Report).
Receive News & Ratings for Royal Caribbean Cruises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Caribbean Cruises and related companies with MarketBeat.com's FREE daily email newsletter.