Arizona State Retirement System Acquires 3,840 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Arizona State Retirement System increased its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 5.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 74,869 shares of the company's stock after purchasing an additional 3,840 shares during the period. Arizona State Retirement System's holdings in Royal Caribbean Cruises were worth $15,381,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Financial Gravity Asset Management Inc. acquired a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at approximately $25,000. Brown Brothers Harriman & Co. raised its position 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. Optimum Investment Advisors bought a new stake in Royal Caribbean Cruises during the first quarter worth $31,000. Fourth Dimension Wealth LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter worth $35,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RCL. Citigroup lifted their target price on Royal Caribbean Cruises from $268.00 to $318.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Wall Street Zen lowered shares of Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Loop Capital reiterated a "buy" rating and set a $290.00 price objective (up from $250.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, June 3rd. Macquarie dropped their price objective 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 boosted their target price on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $293.90.

Royal Caribbean Cruises Trading Down 0.8%

RCL traded down $2.83 during trading on Friday, reaching $338.53. 2,285,700 shares of the stock traded hands, compared to its average volume of 2,361,853. The stock's 50-day moving average is $272.55 and its 200 day moving average is $242.32. Royal Caribbean Cruises Ltd. has a 12 month low of $130.08 and a 12 month high of $342.56. 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 $91.93 billion, a PE ratio of 28.12, a P/E/G ratio of 1.00 and a beta of 2.17.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.53 by $0.18. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. Royal Caribbean Cruises had a return on equity of 47.89% and a net margin of 19.38%. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.77 EPS. Equities 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 disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 0.89%. Royal Caribbean Cruises's dividend payout ratio is currently 24.92%.

Insider Activity

In other news, Director Richard D. Fain sold 19,600 shares of the stock in a transaction dated 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 transaction, the director owned 165,421 shares of the company's stock, valued at $41,868,055.10. This represents a 10.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.95% of the stock is owned by insiders.

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.