Freemont Management S.A. Has $356,000 Stock Holdings in Royal Caribbean Cruises Ltd. $RCL

Freemont Management S.A. decreased its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 87.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,100 shares of the company’s stock after selling 7,600 shares during the quarter. Freemont Management S.A.’s holdings in Royal Caribbean Cruises were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Evolution Wealth Management Inc. acquired a new position in shares of Royal Caribbean Cruises in the second quarter worth about $31,000. Financial Gravity Companies Inc. purchased a new stake in shares of Royal Caribbean Cruises in the 2nd quarter valued at approximately $38,000. Westside Investment Management Inc. lifted its position in shares of Royal Caribbean Cruises by 29.1% in the 2nd quarter. Westside Investment Management Inc. now owns 142 shares of the company’s stock valued at $45,000 after acquiring an additional 32 shares in the last quarter. NewSquare Capital LLC boosted its stake in Royal Caribbean Cruises by 85.2% in the 2nd quarter. NewSquare Capital LLC now owns 150 shares of the company’s stock worth $47,000 after purchasing an additional 69 shares during the period. Finally, Solstein Capital LLC purchased a new position in Royal Caribbean Cruises during the 2nd quarter worth approximately $58,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Analysts Set New Price Targets

RCL has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on Royal Caribbean Cruises from $310.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Truist Financial decreased their price objective on Royal Caribbean Cruises from $321.00 to $318.00 and set a “hold” rating for the company in a research report on Thursday, January 22nd. Bank of America lifted their target price on Royal Caribbean Cruises from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Morgan Stanley increased their price target on shares of Royal Caribbean Cruises from $290.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Finally, Tigress Financial boosted their price objective on shares of Royal Caribbean Cruises from $415.00 to $425.00 and gave the company a “buy” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and an average price target of $348.29.

Royal Caribbean Cruises Stock Down 0.3%

Shares of Royal Caribbean Cruises stock opened at $332.78 on Friday. The firm has a market cap of $90.75 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 1.09 and a beta of 1.91. The stock has a 50-day simple moving average of $295.46 and a 200-day simple moving average of $303.60. Royal Caribbean Cruises Ltd. has a 52-week low of $164.01 and a 52-week high of $366.50. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.18 and a quick ratio of 0.16.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.80 EPS for the quarter, hitting analysts’ consensus estimates of $2.80. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.28 billion. Royal Caribbean Cruises had a return on equity of 45.06% and a net margin of 23.80%.The firm’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 earnings per share. On average, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has authorized a share repurchase program on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Friday, March 6th will be issued a $1.50 dividend. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $1.00. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, March 6th. Royal Caribbean Cruises’s dividend payout ratio is currently 25.62%.

About Royal Caribbean Cruises

Royal Caribbean Cruises (NYSE: RCL), operating as part of the Royal Caribbean Group, is a global cruise company that develops, markets and operates passenger cruise ships. The company operates multiple consumer-facing cruise brands that offer short- and long-duration itineraries and a range of onboard experiences. Its core activities include itineraries and voyage operations, guest services and hospitality, onboard food and beverage, entertainment and recreation programming, and the commercial activities needed to sell and support cruises through both direct and travel‑agent channels.

Royal Caribbean’s ships serve a broad set of geographies worldwide, regularly deploying vessels in the Caribbean, North America (including Alaska), Europe, Asia, Australia and South America.