1,100 Shares in Royal Caribbean Cruises Ltd. (NYSE:RCL) Acquired by Formidable Asset Management LLC

Formidable Asset Management LLC acquired a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,100 shares of the company's stock, valued at approximately $254,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at $707,833,000. Vanguard Group Inc. boosted its position in shares of Royal Caribbean Cruises by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company's stock worth $6,476,003,000 after acquiring an additional 2,068,114 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Royal Caribbean Cruises by 3,544.4% in the 4th quarter. Janus Henderson Group PLC now owns 963,034 shares of the company's stock valued at $222,166,000 after acquiring an additional 936,609 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Royal Caribbean Cruises by 24.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,653,258 shares of the company's stock valued at $612,080,000 after acquiring an additional 513,702 shares during the last quarter. Finally, National Pension Service raised its position in shares of Royal Caribbean Cruises by 138.9% during the 4th quarter. National Pension Service now owns 864,049 shares of the company's stock worth $199,327,000 after acquiring an additional 502,349 shares in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of the transaction, the director now directly owns 165,421 shares in the company, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 7.95% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on RCL. 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 report on Monday, May 19th. Jefferies Financial Group assumed coverage on shares of Royal Caribbean Cruises in a research report on Monday, March 31st. They issued a "hold" rating and a $230.00 price target for the company. Citigroup upped their price objective on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Tigress Financial raised their price objective on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Stifel Nicolaus decreased their target price on Royal Caribbean Cruises from $310.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Four 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 company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $271.95.

Royal Caribbean Cruises Price Performance

Shares of RCL stock traded up $15.53 during trading hours on Tuesday, hitting $255.65. The company's stock had a trading volume of 2,726,497 shares, compared to its average volume of 2,273,753. 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 business has a fifty day moving average of $216.74 and a 200-day moving average of $231.42. Royal Caribbean Cruises Ltd. has a twelve month low of $130.08 and a twelve month high of $277.08. The stock has a market cap of $69.42 billion, a price-to-earnings ratio of 23.91, a P/E/G ratio of 0.90 and a beta of 2.12.

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 analysts' consensus estimates of $2.53 by $0.18. The firm had revenue of $4 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.77 EPS. As a group, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises declared that its board has approved a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

Royal Caribbean Cruises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.17%. Royal Caribbean Cruises's payout ratio is 24.92%.

About Royal Caribbean Cruises

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.