Freemont Management S.A. Takes Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Freemont Management S.A. has acquired a new stake in Royal Caribbean Cruises Ltd., purchasing 6,700 shares valued at approximately $1,376,000.
• Royal Caribbean Cruises reported earnings of $2.71 EPS, exceeding analysts' expectations, and its revenue was up 7.3% year-over-year.
• The company declared a quarterly dividend of $0.75 per share, resulting in an annualized dividend yield of 0.86%.

Freemont Management S.A. acquired a new stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,700 shares of the company's stock, valued at approximately $1,376,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Ostrum Asset Management boosted its holdings in Royal Caribbean Cruises by 0.3% during the fourth quarter. Ostrum Asset Management now owns 11,610 shares of the company's stock worth $2,678,000 after buying an additional 40 shares in the last quarter. CWM LLC boosted its holdings 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 buying an additional 45 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in Royal Caribbean Cruises by 3.4% during the first quarter. Proficio Capital Partners LLC now owns 1,352 shares of the company's stock worth $278,000 after buying an additional 45 shares in the last quarter. Forum Financial Management LP boosted its holdings in Royal Caribbean Cruises by 1.5% during the first quarter. Forum Financial Management LP now owns 3,055 shares of the company's stock worth $628,000 after buying an additional 46 shares in the last quarter. Finally, Accredited Investors Inc. boosted its holdings in Royal Caribbean Cruises by 2.1% during the first quarter. Accredited Investors Inc. now owns 2,229 shares of the company's stock worth $458,000 after buying an additional 46 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock opened at $349.55 on Friday. 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 market cap of $94.92 billion, a P/E ratio of 29.03, a P/E/G ratio of 1.04 and a beta of 2.17. The business's fifty day moving average is $292.10 and its two-hundred day moving average is $249.39. Royal Caribbean Cruises Ltd. has a 52 week low of $130.08 and a 52 week high of $355.91.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the firm earned $1.77 earnings per share. The business's revenue was up 7.3% on a year-over-year basis. Equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.86%. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 24.92%.

Insider Activity

In other news, Director Richard D. Fain sold 19,600 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the transaction, the director owned 165,421 shares of the company's stock, valued at $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.95% of the stock is owned by company insiders.

Analysts Set New Price Targets

RCL has been the subject of a number of research analyst reports. The Goldman Sachs Group reduced their price objective on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a research report on Monday, April 21st. William Blair restated an "outperform" rating on shares of Royal Caribbean Cruises in a research report on Wednesday. TD Cowen assumed coverage on shares of Royal Caribbean Cruises in a research report on Tuesday. They issued a "buy" rating and a $405.00 target price for the company. Finally, Jefferies Financial Group increased their target price on shares of Royal Caribbean Cruises from $235.00 to $315.00 and gave the company a "hold" rating in a research report on Monday, July 7th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $311.05.

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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