Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Purchased by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in Royal Caribbean Cruises Ltd. by 6.9% during Q1, now holding a total of 117,468 shares valued at approximately $24.13 million.
• Several institutional investors, including Brighton Jones LLC and Teacher Retirement System of Texas, have recently enhanced their positions in Royal Caribbean, contributing to institutional ownership of 87.53% in the company.
• Analysts have shown strong optimism towards Royal Caribbean, with multiple upgrades in price targets and a consensus rating of "Moderate Buy," indicating a positive outlook for the company.

Assetmark Inc. grew its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 117,468 shares of the company's stock after purchasing an additional 7,542 shares during the quarter. Assetmark Inc.'s holdings in Royal Caribbean Cruises were worth $24,133,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Financial Gravity Asset Management Inc. bought a new position in shares of Royal Caribbean Cruises during the 1st quarter worth approximately $25,000. Hughes Financial Services LLC bought a new position in shares of Royal Caribbean Cruises during the 1st quarter worth approximately $26,000. Brown Brothers Harriman & Co. raised its stake in shares of Royal Caribbean Cruises by 618.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after acquiring an additional 99 shares in the last quarter. Optimum Investment Advisors bought a new position in shares of Royal Caribbean Cruises during the 1st quarter worth approximately $31,000. Finally, Fourth Dimension Wealth LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $35,000. Institutional investors own 87.53% of the company's stock.

Insider Activity at Royal Caribbean Cruises

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 value of $4,960,760.00. Following the completion of the sale, the director directly owned 165,421 shares in the company, valued at $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.95% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RCL shares. Macquarie reduced 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. Bank of America boosted their price objective on shares of Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a "neutral" rating in a research note on Wednesday. Susquehanna dropped their target price on shares of Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating on the stock in a research report on Wednesday, April 30th. TD Cowen started coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, July 22nd. They set a "buy" rating and a $405.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on shares of Royal Caribbean Cruises from $310.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $311.05.

Royal Caribbean Cruises Price Performance

NYSE:RCL traded up $3.17 during trading hours on Friday, reaching $352.53. 1,652,227 shares of the company were exchanged, compared to its average volume of 1,996,579. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21. The stock's 50-day moving average is $294.04 and its 200-day moving average is $250.59. The firm has a market cap of $95.73 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 0.99 and a beta of 2.17. Royal Caribbean Cruises Ltd. has a twelve month low of $130.08 and a twelve month high of $355.91.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued 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. The business had revenue of $4 billion during the quarter, compared to analysts' expectations of $4.02 billion. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.77 earnings per share. On average, 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 firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.85%. Royal Caribbean Cruises's dividend payout ratio (DPR) is 24.92%.

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.