California Public Employees Retirement System Raises Position in Royal Caribbean Cruises Ltd. $RCL

California Public Employees Retirement System grew its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 11.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 433,018 shares of the company’s stock after acquiring an additional 43,184 shares during the period. California Public Employees Retirement System’s holdings in Royal Caribbean Cruises were worth $135,595,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Royal Caribbean Cruises in the second quarter valued at $1,021,893,000. Nuveen LLC acquired a new stake in Royal Caribbean Cruises in the 1st quarter valued at about $358,614,000. Vanguard Group Inc. boosted its stake in shares of Royal Caribbean Cruises by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 29,604,177 shares of the company’s stock valued at $9,270,252,000 after buying an additional 929,414 shares during the period. 1832 Asset Management L.P. acquired a new position in shares of Royal Caribbean Cruises during the second quarter worth about $172,488,000. Finally, Bessemer Group Inc. grew its position in shares of Royal Caribbean Cruises by 7,971.4% during the second quarter. Bessemer Group Inc. now owns 540,222 shares of the company’s stock worth $169,165,000 after buying an additional 533,529 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RCL shares. Wall Street Zen cut shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Wells Fargo & Company dropped their price objective on shares of Royal Caribbean Cruises from $320.00 to $316.00 and set an “overweight” rating on the stock in a research report on Monday, December 1st. Susquehanna set a $350.00 price objective on shares of Royal Caribbean Cruises and gave the company a “positive” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Caribbean Cruises in a research note on Wednesday, October 8th. Finally, Mizuho dropped their target price on Royal Caribbean Cruises from $372.00 to $362.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $326.09.

Royal Caribbean Cruises Stock Down 0.6%

RCL stock opened at $257.71 on Monday. The stock has a market cap of $70.28 billion, a P/E ratio of 17.33, a PEG ratio of 0.78 and a beta of 1.91. The company has a current ratio of 0.16, a quick ratio of 0.14 and a debt-to-equity ratio of 1.67. Royal Caribbean Cruises Ltd. has a twelve month low of $164.01 and a twelve month high of $366.50. The company’s 50 day moving average is $284.51 and its two-hundred day moving average is $303.97.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, October 28th. The company reported $5.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.68 by $0.07. The business had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.16 billion. Royal Caribbean Cruises had a net margin of 23.33% and a return on equity of 44.68%. During the same quarter in the prior year, the business posted $5.20 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Royal Caribbean Cruises has set its FY 2025 guidance at 15.580-15.630 EPS and its Q4 2025 guidance at 2.740-2.790 EPS. Research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 13th. Shareholders of record on Thursday, September 25th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, September 25th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.75. This represents a $4.00 annualized dividend and a dividend yield of 1.6%. Royal Caribbean Cruises’s dividend payout ratio is 26.90%.

Insider Activity at Royal Caribbean Cruises

In other news, Director Maritza Gomez Montiel sold 1,100 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $281.76, for a total value of $309,936.00. Following the completion of the sale, the director directly owned 14,234 shares of the company’s stock, valued at approximately $4,010,571.84. The trade was a 7.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.95% of the company’s stock.

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.