Allspring Global Investments Holdings LLC Increases Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Allspring Global Investments Holdings LLC increased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 140.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 310,175 shares of the company's stock after acquiring an additional 180,989 shares during the period. Allspring Global Investments Holdings LLC owned about 0.12% of Royal Caribbean Cruises worth $64,554,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position in Royal Caribbean Cruises by 19.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,781 shares of the company's stock worth $6,182,000 after purchasing an additional 4,879 shares during the period. Achmea Investment Management B.V. grew its position in Royal Caribbean Cruises by 38.3% in the 1st quarter. Achmea Investment Management B.V. now owns 47,556 shares of the company's stock worth $9,770,000 after purchasing an additional 13,175 shares during the period. Bartlett & CO. Wealth Management LLC grew its position in Royal Caribbean Cruises by 31.7% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 602 shares of the company's stock worth $124,000 after purchasing an additional 145 shares during the period. Board of the Pension Protection Fund grew its position in Royal Caribbean Cruises by 1,100.0% in the 1st quarter. Board of the Pension Protection Fund now owns 3,600 shares of the company's stock worth $740,000 after purchasing an additional 3,300 shares during the period. Finally, PDS Planning Inc grew its position in shares of Royal Caribbean Cruises by 8.6% during the 1st quarter. PDS Planning Inc now owns 1,650 shares of the company's stock valued at $339,000 after acquiring an additional 130 shares during the period. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RCL. The Goldman Sachs Group cut their price objective on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Melius Research raised shares of Royal Caribbean Cruises to a "strong-buy" rating in a research report on Monday, April 21st. Barclays boosted their price objective on shares of Royal Caribbean Cruises from $249.00 to $263.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Citigroup boosted their price objective on shares of Royal Caribbean Cruises from $268.00 to $318.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Finally, Macquarie lowered their target price on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Royal Caribbean Cruises has an average rating of "Moderate Buy" and an average price target of $276.90.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Trading Up 5.0%

NYSE:RCL opened at $310.69 on Monday. Royal Caribbean Cruises Ltd. has a 52 week low of $130.08 and a 52 week high of $310.88. The firm has a 50 day moving average of $249.05 and a 200 day moving average of $235.99. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $84.37 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 0.92 and a beta of 2.14.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The company had revenue of $4 billion during the quarter, compared to analysts' expectations of $4.02 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. Royal Caribbean Cruises's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.97%. Royal Caribbean Cruises's payout ratio 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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