Fulton Bank N.A. Sells 1,679 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Fulton Bank N.A. decreased its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 25.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,982 shares of the company's stock after selling 1,679 shares during the quarter. Fulton Bank N.A.'s holdings in Royal Caribbean Cruises were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Brown Brothers Harriman & Co. grew its stake in Royal Caribbean Cruises by 618.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after acquiring an additional 99 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in Royal Caribbean Cruises during the fourth quarter valued at approximately $35,000. Bay Harbor Wealth Management LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter valued at approximately $36,000. Truvestments Capital LLC purchased a new stake in Royal Caribbean Cruises in the 4th quarter worth approximately $36,000. Finally, Capital A Wealth Management LLC purchased a new stake in Royal Caribbean Cruises in the 4th quarter worth approximately $40,000. 87.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of the business's 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 transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.95% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on RCL. Jefferies Financial Group initiated coverage on shares of Royal Caribbean Cruises in a research note on Monday, March 31st. They issued a "hold" rating and a $230.00 price target on the stock. Melius Research raised Royal Caribbean Cruises to a "strong-buy" rating in a research report on Monday, April 21st. UBS Group set a $311.00 price target on Royal Caribbean Cruises and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Stifel Nicolaus boosted their price target on Royal Caribbean Cruises from $275.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Barclays increased their price objective on Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Royal Caribbean Cruises has an average rating of "Moderate Buy" and an average target price of $276.90.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock traded up $5.75 during trading on Thursday, reaching $271.39. The company's stock had a trading volume of 2,206,926 shares, compared to its average volume of 2,271,564. Royal Caribbean Cruises Ltd. has a one year low of $130.08 and a one year high of $277.08. 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 has a market cap of $73.70 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 0.90 and a beta of 2.14. The business's fifty day moving average price is $221.66 and its 200-day moving average price is $232.49.

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, beating analysts' consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the firm posted $1.77 EPS. The company's revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

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

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 paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.11%. Royal Caribbean Cruises's payout ratio is currently 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.