Edgestream Partners L.P. Sells 29,823 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Edgestream Partners L.P. trimmed its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 96.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,110 shares of the company's stock after selling 29,823 shares during the period. Edgestream Partners L.P.'s holdings in Royal Caribbean Cruises were worth $228,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RCL. Financial Gravity Asset Management Inc. bought a new position in shares of Royal Caribbean Cruises during the first quarter worth $25,000. Hughes Financial Services LLC acquired a new stake in Royal Caribbean Cruises during the 1st quarter worth $26,000. Brown Brothers Harriman & Co. lifted its holdings in Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after acquiring an additional 99 shares in the last quarter. Optimum Investment Advisors acquired a new position in Royal Caribbean Cruises in the first quarter valued at about $31,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Royal Caribbean Cruises in the fourth quarter worth about $35,000. Institutional investors own 87.53% of the company's stock.

Royal Caribbean Cruises Stock Performance

NYSE RCL opened at $350.45 on Monday. The stock has a market cap of $95.17 billion, a PE ratio of 29.11, a P/E/G ratio of 1.04 and a beta of 2.17. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.15 and a current ratio of 0.18. The firm has a 50-day moving average of $284.00 and a 200-day moving average of $246.31. Royal Caribbean Cruises Ltd. has a 52-week low of $130.08 and a 52-week high of $352.68.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 47.89% and a net margin of 19.38%. The firm had revenue of $4 billion for the quarter, compared to analysts' expectations of $4.02 billion. During the same quarter last year, the business earned $1.77 EPS. The company's quarterly revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 0.86%. Royal Caribbean Cruises's dividend payout ratio is presently 24.92%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen lowered Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Melius Research raised shares of Royal Caribbean Cruises to a "strong-buy" rating in a research report on Monday, April 21st. Barclays boosted their price objective on shares of Royal Caribbean Cruises from $263.00 to $358.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Northcoast Research started coverage on shares of Royal Caribbean Cruises in a research note on Friday, April 25th. They issued a "buy" rating and a $279.00 target price for the company. Finally, UBS Group set a $311.00 price target on Royal Caribbean Cruises and gave the company a "buy" rating in a research note on Tuesday, May 20th. 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. According to data from MarketBeat, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and an average price target of $297.50.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the 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 sale, the director directly owned 165,421 shares in the company, valued at $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 SEC, which is available at the SEC website. Insiders own 6.95% of the company's stock.

Royal Caribbean Cruises Company 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.

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