Envestnet Asset Management Inc. Buys 18,644 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Envestnet Asset Management Inc. lifted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 6.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 316,508 shares of the company's stock after acquiring an additional 18,644 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.12% of Royal Caribbean Cruises worth $65,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Ostrum Asset Management increased its position in Royal Caribbean Cruises by 0.3% during 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 period. Farther Finance Advisors LLC increased its position in shares of Royal Caribbean Cruises by 1.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company's stock worth $630,000 after buying an additional 42 shares during the period. UMB Bank n.a. raised 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 buying an additional 52 shares during the last quarter. Legacy Advisors LLC lifted its holdings in Royal Caribbean Cruises by 5.4% in the first quarter. Legacy Advisors LLC now owns 1,027 shares of the company's stock valued at $212,000 after buying an additional 53 shares during the period. Finally, OneDigital Investment Advisors LLC lifted its holdings in Royal Caribbean Cruises by 1.1% in the first quarter. OneDigital Investment Advisors LLC now owns 5,015 shares of the company's stock valued at $1,030,000 after buying an additional 53 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Trading Down 0.8%

Shares of RCL stock opened at $338.53 on Friday. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 2.21. The firm has a market cap of $91.93 billion, a P/E ratio of 28.12, a PEG ratio of 1.01 and a beta of 2.17. The company has a 50 day moving average of $272.55 and a 200-day moving average of $242.30. Royal Caribbean Cruises Ltd. has a 12-month low of $130.08 and a 12-month high of $342.56.

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

Royal Caribbean Cruises Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.89%. Royal Caribbean Cruises's dividend payout ratio is presently 24.92%.

Insider Buying and Selling at Royal Caribbean Cruises

In related 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 sale, the director directly owned 165,421 shares in the company, valued at approximately $41,868,055.10. This represents a 10.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.95% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on RCL shares. Northcoast Research began coverage on Royal Caribbean Cruises in a research report on Friday, April 25th. They issued a "buy" rating and a $279.00 price objective for the company. Barclays boosted their price target on Royal Caribbean Cruises from $263.00 to $358.00 and gave the company an "overweight" rating in a research note on Wednesday. Truist Financial raised their price objective on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Sanford C. Bernstein lifted their price objective on shares of Royal Caribbean Cruises from $290.00 to $360.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. 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 equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $293.90.

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.

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