Bank of New York Mellon Corp Purchases 535,043 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Bank of New York Mellon Corp grew its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 21.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,991,079 shares of the company's stock after purchasing an additional 535,043 shares during the period. Bank of New York Mellon Corp owned about 1.10% of Royal Caribbean Cruises worth $614,487,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Royal Caribbean Cruises by 2.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company's stock worth $470,000 after acquiring an additional 39 shares during the period. Ostrum Asset Management grew its holdings in shares of Royal Caribbean Cruises by 0.3% in the fourth quarter. Ostrum Asset Management now owns 11,610 shares of the company's stock worth $2,678,000 after acquiring an additional 40 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Royal Caribbean Cruises by 1.6% in the fourth quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company's stock worth $630,000 after acquiring an additional 42 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of Royal Caribbean Cruises by 3.6% in the fourth quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company's stock worth $313,000 after acquiring an additional 47 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of Royal Caribbean Cruises by 2.5% in the first quarter. UMB Bank n.a. now owns 2,131 shares of the company's stock worth $438,000 after acquiring an additional 52 shares during the period. Institutional investors own 87.53% of the company's stock.

Royal Caribbean Cruises Trading Up 2.5%

RCL stock traded up $8.00 during midday trading on Friday, reaching $334.10. 1,440,459 shares of the company traded hands, compared to its average volume of 2,358,346. Royal Caribbean Cruises Ltd. has a 52-week low of $130.08 and a 52-week high of $334.48. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.15 and a current ratio of 0.18. The business has a 50 day moving average of $261.08 and a 200-day moving average of $238.95. The firm has a market capitalization of $90.73 billion, a price-to-earnings ratio of 27.75, a P/E/G ratio of 0.99 and a beta of 2.17.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 47.89% and a net margin of 19.38%. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the business posted $1.77 earnings per share. The company's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, sell-side 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 was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 0.90%. Royal Caribbean Cruises's payout ratio is 24.92%.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $253.10, for a total value of $4,960,760.00. Following the sale, the director directly owned 165,421 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Insiders own 6.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. UBS Group set a $311.00 price objective on Royal Caribbean Cruises and gave the stock a "buy" rating in a report on Tuesday, May 20th. Macquarie cut their price target on Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Northcoast Research began coverage on Royal Caribbean Cruises in a report on Friday, April 25th. They set a "buy" rating and a $279.00 price target for the company. Loop Capital reissued a "buy" rating and set a $290.00 price target (up previously from $250.00) on shares of Royal Caribbean Cruises in a report on Tuesday, June 3rd. Finally, Truist Financial boosted their price target on Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a report on Monday, May 19th. Four investment 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. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and an average target price of $280.40.

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.