Argus Investors Counsel Inc. Buys 4,476 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Argus Investors Counsel Inc. increased its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 331.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,826 shares of the company's stock after buying an additional 4,476 shares during the period. Argus Investors Counsel Inc.'s holdings in Royal Caribbean Cruises were worth $1,197,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RCL. Brown Brothers Harriman & Co. raised its stake in Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after buying an additional 99 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in Royal Caribbean Cruises in the fourth quarter worth about $35,000. Truvestments Capital LLC bought a new position in Royal Caribbean Cruises in the fourth quarter worth about $36,000. Capital A Wealth Management LLC bought a new position in Royal Caribbean Cruises in the fourth quarter worth about $40,000. Finally, Spurstone Advisory Services LLC bought a new position in Royal Caribbean Cruises in the fourth quarter worth about $46,000. 87.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RCL. Citigroup raised their target price on shares of Royal Caribbean Cruises from $268.00 to $318.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. BNP Paribas began coverage on shares of Royal Caribbean Cruises in a research note on Thursday, March 27th. They set an "outperform" rating and a $262.00 target price for the company. Stifel Nicolaus raised 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 note on Wednesday, June 4th. Macquarie decreased 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 note on Friday, May 9th. Finally, Morgan Stanley raised their target price on shares of 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. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $276.90.

Insiders Place Their Bets

In other 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 transaction of $4,960,760.00. Following the sale, the director now directly owns 165,421 shares in the company, valued at $41,868,055.10. This trade represents a 10.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.95% of the company's stock.

Royal Caribbean Cruises Stock Performance

RCL stock traded down $7.96 on Friday, hitting $257.77. The company had a trading volume of 2,791,111 shares, compared to its average volume of 2,293,849. Royal Caribbean Cruises Ltd. has a 12-month low of $130.08 and a 12-month high of $279.89. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The stock's 50-day simple moving average is $232.33 and its 200 day simple moving average is $233.97. The stock has a market cap of $70.00 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 0.90 and a beta of 2.14.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $4 billion for the quarter, compared to analysts' expectations of $4.02 billion. During the same quarter last year, the company posted $1.77 earnings per share. The firm's quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The firm 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 $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.16%. Royal Caribbean Cruises's payout ratio 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.