Contravisory Investment Management Inc. Sells 1,290 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Contravisory Investment Management Inc. lessened its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 23.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,291 shares of the company's stock after selling 1,290 shares during the period. Contravisory Investment Management Inc.'s holdings in Royal Caribbean Cruises were worth $882,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of RCL. Dorsey & Whitney Trust CO LLC increased its stake in shares of 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 valued at $470,000 after buying an additional 39 shares during the period. Ostrum Asset Management boosted its position in shares of Royal Caribbean Cruises by 0.3% during the fourth quarter. Ostrum Asset Management now owns 11,610 shares of the company's stock valued at $2,678,000 after purchasing an additional 40 shares in the last quarter. Farther Finance Advisors LLC lifted 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 valued at $630,000 after buying an additional 42 shares during the period. Hemington Wealth Management boosted 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 valued at $123,000 after buying an additional 44 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its position in shares of Royal Caribbean Cruises by 3.6% in 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 period. Hedge funds and other institutional investors own 87.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RCL shares. UBS Group set a $311.00 price target on shares of Royal Caribbean Cruises and gave the company a "buy" rating in a research report on Tuesday, May 20th. Loop Capital boosted their price target on Royal Caribbean Cruises from $250.00 to $290.00 and gave the stock a "buy" rating in a research report on Tuesday. Jefferies Financial Group began coverage on Royal Caribbean Cruises in a research note on Monday, March 31st. They issued a "hold" rating and a $230.00 price target on the stock. Morgan Stanley lifted their price objective on Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Susquehanna dropped their target price on Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating on the stock in a report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $276.90.

Royal Caribbean Cruises Stock Performance

NYSE:RCL traded up $5.75 during trading hours on Thursday, reaching $271.39. The company had a trading volume of 2,206,926 shares, compared to its average volume of 2,271,564. The firm has a market cap of $73.70 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 0.90 and a beta of 2.14. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The firm's 50 day moving average price is $221.66 and its 200-day moving average price is $232.49. Royal Caribbean Cruises Ltd. has a 52 week low of $130.08 and a 52 week high of $277.08.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.53 by $0.18. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $4.02 billion. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. Royal Caribbean Cruises's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.77 earnings per share. On average, analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

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

Royal Caribbean Cruises declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the completion of the sale, the director now directly owns 165,421 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.95% of the company's stock.

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.