Royal Caribbean Cruises Ltd. (NYSE:RCL) Stake Increased by Czech National Bank

Czech National Bank grew its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,869 shares of the company's stock after buying an additional 3,235 shares during the period. Czech National Bank's holdings in Royal Caribbean Cruises were worth $11,683,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brown Brothers Harriman & Co. boosted its holdings in shares of Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after buying an additional 99 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $35,000. Bay Harbor Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $36,000. Truvestments Capital LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $36,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Royal Caribbean Cruises Price Performance

NYSE:RCL traded up $5.75 during mid-day trading on Thursday, hitting $271.39. 2,206,926 shares of the company's stock traded hands, compared to its average volume of 2,273,862. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The firm's 50 day simple moving average is $222.98 and its 200 day simple moving average is $232.76. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $277.08. The company has a market cap of $73.70 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 0.90 and a beta of 2.14.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $4.02 billion. During the same period last year, the company earned $1.77 EPS. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

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

Royal Caribbean Cruises announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group decreased 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 research note on Wednesday, April 23rd. BNP Paribas assumed coverage on shares of Royal Caribbean Cruises in a research note on Thursday, March 27th. They set an "outperform" rating and a $262.00 price target for the company. Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday, April 21st. Macquarie decreased their price target on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, Morgan Stanley increased their price target on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Four equities 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 company's stock. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and a consensus price target of $276.90.

Insider Buying and Selling

In other Royal Caribbean Cruises 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 transaction of $4,960,760.00. Following the transaction, the director now directly owns 165,421 shares of the company's stock, 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 filing with the SEC, which is accessible through this hyperlink. Corporate 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.