Central Bank & Trust Co. increased its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 93.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,496 shares of the company's stock after acquiring an additional 2,173 shares during the period. Central Bank & Trust Co.'s holdings in Royal Caribbean Cruises were worth $1,408,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. purchased a new position in Royal Caribbean Cruises in the first quarter worth $25,000. Hughes Financial Services LLC purchased a new stake in Royal Caribbean Cruises during the first quarter valued at about $26,000. Optimum Investment Advisors purchased a new stake in Royal Caribbean Cruises during the first quarter valued at about $31,000. Fourth Dimension Wealth LLC purchased a new stake in Royal Caribbean Cruises during the fourth quarter valued at about $35,000. Finally, SouthState Corp purchased a new stake in Royal Caribbean Cruises during the first quarter valued at about $39,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Royal Caribbean Cruises
In related news, CAO Henry L. Pujol sold 5,207 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $329.47, for a total transaction of $1,715,550.29. Following the completion of the sale, the chief accounting officer owned 7,826 shares of the company's stock, valued at $2,578,432.22. This trade represents a 39.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard D. Fain sold 16,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $311.02, for a total transaction of $4,976,320.00. Following the completion of the sale, the director owned 150,291 shares in the company, valued at $46,743,506.82. This represents a 9.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,507 shares of company stock valued at $10,091,282 over the last 90 days. Corporate insiders own 6.95% of the company's stock.
Royal Caribbean Cruises Price Performance
Shares of NYSE RCL opened at $330.01 on Tuesday. Royal Caribbean Cruises Ltd. has a fifty-two week low of $164.01 and a fifty-two week high of $366.50. The company has a 50 day simple moving average of $337.09 and a two-hundred day simple moving average of $271.93. The company has a market capitalization of $89.64 billion, a price-to-earnings ratio of 24.74, a P/E/G ratio of 0.95 and a beta of 2.12. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.21 and a current ratio of 0.23.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share for the quarter, beating analysts' consensus estimates of $4.04 by $0.34. Royal Caribbean Cruises had a net margin of 20.97% and a return on equity of 47.15%. The business had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter last year, the firm earned $3.21 earnings per share. The business's revenue for the quarter was up 10.4% on a year-over-year basis. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. Analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.
Royal Caribbean Cruises Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 13th. Investors of record on Thursday, September 25th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.2%. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, September 25th. Royal Caribbean Cruises's payout ratio is 29.99%.
Wall Street Analyst Weigh In
Several analysts have issued reports on RCL shares. Truist Financial set a $337.00 price target on shares of Royal Caribbean Cruises in a research report on Wednesday, July 30th. Loop Capital restated a "buy" rating and set a $290.00 price target (up from $250.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, June 3rd. Stifel Nicolaus upped their price target on shares of Royal Caribbean Cruises from $400.00 to $420.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Wall Street Zen lowered shares of Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Finally, Citigroup upped their price target on shares of Royal Caribbean Cruises from $390.00 to $399.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $327.14.
Check Out Our Latest Report on RCL
About Royal Caribbean Cruises
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding RCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report).
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