CENTRAL TRUST Co Lowers Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

CENTRAL TRUST Co reduced its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 32.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,914 shares of the company's stock after selling 1,369 shares during the quarter. CENTRAL TRUST Co's holdings in Royal Caribbean Cruises were worth $599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RCL. Brown Brothers Harriman & Co. increased its holdings in shares of Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after purchasing an additional 99 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in Royal Caribbean Cruises in the 4th quarter valued at $35,000. Truvestments Capital LLC acquired a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth $36,000. Capital A Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth $40,000. Finally, Spurstone Advisory Services LLC purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter worth $46,000. Hedge funds and other institutional investors own 87.53% of the company's stock.

Wall Street Analyst Weigh In

RCL has been the subject of a number of analyst reports. The Goldman Sachs Group dropped their price objective 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. Susquehanna dropped their price target on shares of Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating for the company in a research note on Wednesday, April 30th. BNP Paribas assumed coverage on shares of Royal Caribbean Cruises in a report on Thursday, March 27th. They set an "outperform" rating and a $262.00 price target for the company. 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. Finally, Barclays upped their price objective on Royal Caribbean Cruises from $249.00 to $263.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and a consensus price target of $276.90.

Royal Caribbean Cruises Stock Up 1.7%

Shares of RCL traded up $4.54 during mid-day trading on Friday, reaching $272.32. The company's stock had a trading volume of 690,238 shares, compared to its average volume of 2,278,139. The company's 50 day moving average is $237.76 and its 200 day moving average is $234.59. The stock has a market cap of $73.95 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 0.80 and a beta of 2.14. Royal Caribbean Cruises Ltd. has a 12-month low of $130.08 and a 12-month high of $279.89. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.18 and a quick ratio of 0.15.

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

Royal Caribbean Cruises Announces Dividend

The business 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 dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.10%. Royal Caribbean Cruises's dividend payout ratio is currently 24.92%.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction dated 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 now owns 165,421 shares in the company, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.95% of the stock is owned by corporate insiders.

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.