Advisor Resource Council Makes New Investment in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Advisor Resource Council acquired a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,321 shares of the company's stock, valued at approximately $879,000.

Several other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in shares of Royal Caribbean Cruises by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock valued at $1,373,856,000 after buying an additional 353,893 shares in the last quarter. Dorsey Wright & Associates acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at $4,221,000. Groupama Asset Managment acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at $1,122,000. Brown Miller Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises in the first quarter valued at $266,000. Finally, Vanguard Group Inc. increased its stake in shares of Royal Caribbean Cruises by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company's stock valued at $6,476,003,000 after buying an additional 2,068,114 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction dated Monday, May 19th. The stock was 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. The trade was a 10.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RCL shares. BNP Paribas started coverage on Royal Caribbean Cruises in a research note on Thursday, March 27th. They issued an "outperform" rating and a $262.00 target price for the company. Morgan Stanley raised their target price on Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Northcoast Research started coverage on Royal Caribbean Cruises in a research note on Friday, April 25th. They issued a "buy" rating and a $279.00 target price for the company. Jefferies Financial Group started coverage on Royal Caribbean Cruises in a report on Monday, March 31st. They issued a "hold" rating and a $230.00 price target on the stock. Finally, Susquehanna decreased their price target on Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating on the stock in a 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $276.90.

Royal Caribbean Cruises Price Performance

Shares of RCL opened at $272.84 on Friday. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $279.89. The stock has a market cap of $74.09 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 0.81 and a beta of 2.14. The stock's 50-day moving average price is $239.38 and its two-hundred day moving average price is $234.67.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, beating 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 business had revenue of $4 billion for the quarter, compared to analysts' expectations of $4.02 billion. During the same quarter in the previous year, the business posted $1.77 EPS. Royal Caribbean Cruises's revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.10%. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 24.92%.

Royal Caribbean Cruises Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.