Golden State Wealth Management LLC lifted its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL – Free Report) by 124.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,183 shares of the company’s stock after acquiring an additional 656 shares during the period. Golden State Wealth Management LLC’s holdings in Royal Caribbean Cruises were worth $243,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of RCL. Brighton Jones LLC grew its stake in shares of Royal Caribbean Cruises by 12.2% in the fourth quarter. Brighton Jones LLC now owns 1,312 shares of the company’s stock worth $303,000 after acquiring an additional 143 shares during the last quarter. Advisor OS LLC grew its stake in shares of Royal Caribbean Cruises by 7.2% in the fourth quarter. Advisor OS LLC now owns 1,235 shares of the company’s stock worth $285,000 after acquiring an additional 83 shares during the last quarter. New York Life Investment Management LLC grew its stake in shares of Royal Caribbean Cruises by 4.9% in the fourth quarter. New York Life Investment Management LLC now owns 36,397 shares of the company’s stock worth $8,396,000 after acquiring an additional 1,690 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in Royal Caribbean Cruises by 2.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 95,700 shares of the company’s stock worth $22,077,000 after buying an additional 2,300 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in Royal Caribbean Cruises by 41.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 24,121 shares of the company’s stock worth $5,564,000 after buying an additional 7,109 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Royal Caribbean Cruises in a research note on Monday, March 31st. They set a “hold” rating and a $230.00 price target on the stock. Loop Capital reiterated a “buy” rating and set a $290.00 price target (up previously from $250.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, June 3rd. Truist Financial lifted their price target on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Susquehanna decreased their price target on shares of Royal Caribbean Cruises from $295.00 to $275.00 and set a “positive” rating on the stock in a research note on Wednesday, April 30th. Finally, Melius Research upgraded shares of Royal Caribbean Cruises to a “strong-buy” rating in a research note on Monday, April 21st. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $276.90.
Insider Buying and Selling
In related news, Director Richard D. Fain sold 19,600 shares of the company’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the transaction, the director now owns 165,421 shares in the company, valued at $41,868,055.10. This represents a 10.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.95% of the stock is owned by corporate insiders.
Royal Caribbean Cruises Stock Up 5.0%
Shares of NYSE:RCL opened at $310.69 on Friday. Royal Caribbean Cruises Ltd. has a 52 week low of $130.08 and a 52 week high of $310.88. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.15 and a current ratio of 0.18. The company’s fifty day moving average is $249.05 and its 200-day moving average is $236.11. The company has a market capitalization of $84.37 billion, a PE ratio of 25.80, a P/E/G ratio of 0.88 and a beta of 2.14.
Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.18. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.02 billion. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 EPS. Equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.
Royal Caribbean Cruises Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 0.97%. Royal Caribbean Cruises’s dividend payout ratio (DPR) 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.
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