Astoria Portfolio Advisors LLC. Acquires New Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Astoria Portfolio Advisors LLC. purchased a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,068 shares of the company's stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors grew its holdings in Royal Caribbean Cruises by 0.9% during the fourth quarter. Capital International Investors now owns 29,712,610 shares of the company's stock worth $6,854,905,000 after acquiring an additional 278,860 shares during the period. Vanguard Group Inc. boosted its holdings in Royal Caribbean Cruises by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company's stock worth $6,476,003,000 after buying an additional 2,068,114 shares in the last quarter. Geode Capital Management LLC grew its position in 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 worth $1,373,856,000 after buying an additional 353,893 shares during the last quarter. Norges Bank bought a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at $707,833,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Royal Caribbean Cruises by 24.0% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,653,258 shares of the company's stock valued at $612,080,000 after buying an additional 513,702 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Trading Up 3.5%

Shares of Royal Caribbean Cruises stock traded up $11.07 on Wednesday, hitting $326.17. The stock had a trading volume of 2,938,438 shares, compared to its average volume of 2,349,991. The stock has a 50 day moving average of $253.82 and a 200 day moving average of $237.01. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.15 and a current ratio of 0.18. Royal Caribbean Cruises Ltd. has a twelve month low of $130.08 and a twelve month high of $327.45. The firm has a market capitalization of $88.57 billion, a P/E ratio of 27.09, a PEG ratio of 0.93 and a beta of 2.17.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced 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 net margin of 19.38% and a return on equity of 47.89%. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. The business's quarterly revenue was up 7.3% compared to the same quarter last year. Sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.92%. Royal Caribbean Cruises's payout ratio is 24.92%.

Insider Buying and Selling

In other news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction on 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 sale, the director directly owned 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. Company insiders own 6.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial increased their target price on Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a report on Monday, May 19th. Citigroup increased their price target on Royal Caribbean Cruises from $268.00 to $318.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Morgan Stanley boosted their price objective 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. Northcoast Research assumed coverage on shares of Royal Caribbean Cruises in a research report on Friday, April 25th. They set a "buy" rating and a $279.00 target price for the company. Finally, BNP Paribas started coverage on Royal Caribbean Cruises in a research report on Thursday, March 27th. They issued an "outperform" rating and a $262.00 price target on the stock. 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 company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $280.40.

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.