Avanza Fonder AB Invests $3.84 Million in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Avanza Fonder AB acquired a new stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,097 shares of the company's stock, valued at approximately $3,837,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted its holdings in Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after purchasing an additional 99 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $35,000. Truvestments Capital LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $36,000. Capital A Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $40,000. Finally, Atlantic Edge Private Wealth Management LLC raised its position in shares of Royal Caribbean Cruises by 100.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company's stock valued at $46,000 after buying an additional 100 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of the transaction, the director now owns 165,421 shares in the company, valued at $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.95% of the company's stock.

Royal Caribbean Cruises Trading Down 3.0%

Shares of RCL traded down $7.96 during trading on Friday, reaching $257.77. 2,791,111 shares of the company traded hands, compared to its average volume of 2,287,772. Royal Caribbean Cruises Ltd. has a twelve month low of $130.08 and a twelve month high of $279.89. The stock has a market cap of $70.00 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 0.90 and a beta of 2.14. The stock has a 50-day simple moving average of $232.33 and a 200-day simple moving average of $233.97. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. The business had revenue of $4 billion during the quarter, compared to analysts' expectations of $4.02 billion. During the same period last year, the business earned $1.77 earnings per share. The business's revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.16%. Royal Caribbean Cruises's dividend payout ratio is presently 24.92%.

Analysts Set New Price Targets

RCL has been the subject of a number of recent research reports. Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a research report on Monday, April 21st. UBS Group set a $311.00 target price on shares of Royal Caribbean Cruises and gave the company a "buy" rating in a research report on Tuesday, May 20th. Macquarie reduced their target price on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Stifel Nicolaus increased their target price on shares of Royal Caribbean Cruises from $275.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Jefferies Financial Group initiated coverage on shares of Royal Caribbean Cruises in a research report on Monday, March 31st. They issued a "hold" rating and a $230.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $276.90.

About Royal Caribbean Cruises

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.