Cullen Frost Bankers Inc. Boosts Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Cullen Frost Bankers Inc. grew its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 7,890.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,675 shares of the company's stock after purchasing an additional 36,216 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Royal Caribbean Cruises were worth $7,535,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Ostrum Asset Management boosted its stake in shares of Royal Caribbean Cruises by 0.3% in the 4th 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 during the last quarter. CWM LLC boosted its stake in Royal Caribbean Cruises by 0.4% during the first quarter. CWM LLC now owns 12,816 shares of the company's stock worth $2,633,000 after acquiring an additional 45 shares in the last quarter. UMB Bank n.a. boosted its stake in Royal Caribbean Cruises by 2.5% during 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 in the last quarter. Legacy Advisors LLC boosted its stake in Royal Caribbean Cruises by 5.4% during the first quarter. Legacy Advisors LLC now owns 1,027 shares of the company's stock worth $212,000 after acquiring an additional 53 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in Royal Caribbean Cruises by 1.1% during the first quarter. OneDigital Investment Advisors LLC now owns 5,015 shares of the company's stock worth $1,030,000 after acquiring an additional 53 shares in the last quarter. 87.53% of the stock is owned by institutional investors.

Insider Activity at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of the firm's stock in a transaction dated 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 owned 165,421 shares in the company, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 6.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Stock Up 0.6%

Shares of RCL stock traded up $1.94 on Friday, hitting $350.45. The stock had a trading volume of 1,464,567 shares, compared to its average volume of 2,353,257. The business has a 50 day moving average of $281.66 and a 200 day moving average of $245.25. The stock has a market cap of $95.17 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 1.01 and a beta of 2.17. 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 Ltd. has a 12-month low of $130.08 and a 12-month high of $352.45.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate 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 for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.77 earnings per share. As a group, analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The company also recently announced 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 0.86%. Royal Caribbean Cruises's dividend payout ratio is currently 24.92%.

Analysts Set New Price Targets

Several research analysts recently issued reports on RCL shares. Susquehanna cut their target price on shares of Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating on the stock in a research note on Wednesday, April 30th. UBS Group set a $311.00 target price on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Citigroup reissued a "buy" rating and set a $390.00 target price (up from $318.00) on shares of Royal Caribbean Cruises in a research note on Wednesday. Stifel Nicolaus increased their target price on shares of Royal Caribbean Cruises from $310.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Jefferies Financial Group increased their target price on shares of Royal Caribbean Cruises from $235.00 to $315.00 and gave the stock a "hold" rating in a research note on Monday, July 7th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $297.50.

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.