Great Lakes Retirement Inc. Makes New Investment in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Great Lakes Retirement Inc. acquired a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,020 shares of the company's stock, valued at approximately $1,035,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in RCL. Brown Brothers Harriman & Co. lifted its holdings 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 purchasing an additional 99 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at $35,000. Truvestments Capital LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at about $36,000. Capital A Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $40,000. Finally, Spurstone Advisory Services LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $46,000. 87.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Northcoast Research assumed coverage on shares of Royal Caribbean Cruises in a report on Friday, April 25th. They issued a "buy" rating and a $279.00 price target on the stock. Macquarie decreased their target price on Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Melius Research upgraded Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday, April 21st. Stifel Nicolaus lifted their price target on Royal Caribbean Cruises from $275.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Citigroup upped their price objective on Royal Caribbean Cruises from $268.00 to $318.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Four equities research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $276.90.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL opened at $264.56 on Tuesday. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $279.89. The stock has a market capitalization of $71.84 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 0.90 and a beta of 2.14. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The company's 50 day simple moving average is $234.03 and its 200 day simple moving average is $234.01.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings results 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 48.97% and a net margin of 17.46%. The company had revenue of $4 billion during the quarter, compared to analysts' expectations of $4.02 billion. During the same quarter in the previous year, the firm earned $1.77 EPS. Royal Caribbean Cruises's revenue was up 7.3% on a year-over-year basis. As a group, research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.13%. Royal Caribbean Cruises's dividend payout ratio (DPR) is currently 24.92%.

Insider Activity

In related news, Director Richard D. Fain sold 19,600 shares of the firm'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 sale, the director now owns 165,421 shares of the company's stock, valued at $41,868,055.10. This trade represents a 10.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.95% of the stock is currently owned by corporate insiders.

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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