Central Bank & Trust Co. Invests $477,000 in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Central Bank & Trust Co. acquired a new stake in 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 institutional investor acquired 2,323 shares of the company's stock, valued at approximately $477,000.

Other hedge funds also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC increased its position in Royal Caribbean Cruises by 2.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company's stock worth $470,000 after purchasing an additional 39 shares during the last quarter. Ostrum Asset Management increased its position in Royal Caribbean Cruises by 0.3% during the fourth quarter. Ostrum Asset Management now owns 11,610 shares of the company's stock worth $2,678,000 after purchasing an additional 40 shares during the last quarter. Farther Finance Advisors LLC increased its position in Royal Caribbean Cruises by 1.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company's stock worth $630,000 after purchasing an additional 42 shares during the last quarter. Hemington Wealth Management increased its holdings in shares of Royal Caribbean Cruises by 9.0% during the 4th quarter. Hemington Wealth Management now owns 533 shares of the company's stock worth $123,000 after buying an additional 44 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its holdings in shares of Royal Caribbean Cruises by 3.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company's stock worth $313,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company's stock.

Insider Buying and Selling

In related news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction that occurred on 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 transaction, the director now owns 165,421 shares in the company, valued at $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.95% of the stock is owned by insiders.

Royal Caribbean Cruises Stock Down 1.5%

RCL stock traded down $3.99 during midday trading on Tuesday, hitting $270.00. The company's stock had a trading volume of 2,021,035 shares, compared to its average volume of 2,283,860. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a 52-week low of $130.08 and a 52-week high of $279.89. The firm has a market capitalization of $73.32 billion, a P/E ratio of 25.26, a PEG ratio of 0.90 and a beta of 2.14. The firm has a 50-day simple moving average of $225.58 and a 200-day simple moving average of $233.22.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly 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. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. The company had revenue of $4 billion during the quarter, compared to analysts' expectations of $4.02 billion. During the same quarter last year, the company posted $1.77 EPS. The firm's revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Royal Caribbean Cruises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.11%. Royal Caribbean Cruises's dividend payout ratio is currently 24.92%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RCL. Barclays raised their price target on shares of Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Stifel Nicolaus raised their price target on shares of Royal Caribbean Cruises from $275.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Jefferies Financial Group began coverage on shares of Royal Caribbean Cruises in a report on Monday, March 31st. They set a "hold" rating and a $230.00 price target for the company. The Goldman Sachs Group cut their price target on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Citigroup lifted their price target on shares of Royal Caribbean Cruises from $268.00 to $318.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of "Moderate Buy" and a consensus price target of $276.90.

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.