Oppenheimer Asset Management Inc. Grows Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Oppenheimer Asset Management Inc. grew its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 152.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 9,241 shares of the company’s stock after acquiring an additional 5,575 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Royal Caribbean Cruises were worth $1,898,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RCL. Brown Brothers Harriman & Co. grew its stake in Royal Caribbean Cruises by 618.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after buying an additional 99 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in Royal Caribbean Cruises during the 4th quarter worth approximately $35,000. Truvestments Capital LLC purchased a new position in Royal Caribbean Cruises during the 4th quarter worth approximately $36,000. Capital A Wealth Management LLC purchased a new position in Royal Caribbean Cruises during the 4th quarter worth approximately $40,000. Finally, Spurstone Advisory Services LLC purchased a new position in Royal Caribbean Cruises during the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on RCL shares. Stifel Nicolaus raised their price target on Royal Caribbean Cruises from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. The Goldman Sachs Group dropped their price target on Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Macquarie dropped their price target on Royal Caribbean Cruises from $300.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. 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 objective for the company. Finally, Susquehanna decreased their price objective on Royal Caribbean Cruises from $295.00 to $275.00 and set a “positive” rating for the company in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and a consensus target price of $276.90.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.95% of the company’s stock.

Royal Caribbean Cruises Price Performance

RCL stock opened at $295.81 on Friday. The stock has a 50-day moving average price of $246.69 and a two-hundred day moving average price of $235.66. Royal Caribbean Cruises Ltd. has a 12-month low of $130.08 and a 12-month high of $297.12. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21. The company has a market cap of $80.33 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 0.85 and a beta of 2.14.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, topping 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 company had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. As a group, research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.01%. Royal Caribbean Cruises’s payout ratio is 24.92%.

Royal Caribbean Cruises 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.