Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 2.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,532 shares of the company's stock after selling 3,589 shares during the period. Handelsbanken Fonder AB's holdings in Royal Caribbean Cruises were worth $24,557,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC lifted its stake in Royal Caribbean Cruises by 511.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company's stock worth $498,000 after purchasing an additional 1,804 shares in the last quarter. Lorne Steinberg Wealth Management Inc. purchased a new position in Royal Caribbean Cruises in the 4th quarter worth approximately $231,000. Geode Capital Management LLC lifted its stake in Royal Caribbean Cruises by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock worth $1,373,856,000 after purchasing an additional 353,893 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Royal Caribbean Cruises by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 291,027 shares of the company's stock worth $67,137,000 after purchasing an additional 7,740 shares in the last quarter. Finally, Dorsey Wright & Associates purchased a new position in Royal Caribbean Cruises in the 4th quarter worth approximately $4,221,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Trading Down 0.9%

Shares of RCL traded down $2.43 during trading on Thursday, reaching $265.53. 1,511,961 shares of the company traded hands, compared to its average volume of 2,287,472. Royal Caribbean Cruises Ltd. has a twelve month low of $130.08 and a twelve month high of $279.89. The stock has a market cap of $72.11 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 0.90 and a beta of 2.14. The stock has a 50-day simple moving average of $230.76 and a 200-day simple moving average of $233.88. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. The business had revenue of $4 billion during the quarter, compared to analysts' expectations of $4.02 billion. During the same period last year, the business earned $1.77 earnings per share. The business's revenue for the quarter was up 7.3% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors 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%.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on RCL shares. Morgan Stanley raised their target price on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. UBS Group set a $311.00 target price on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a research report on Monday, April 21st. 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. Finally, Citigroup raised their price objective on shares of Royal Caribbean Cruises from $268.00 to $318.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $276.90.

Insider Activity at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction that occurred on Monday, May 19th. The shares were 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 owns 165,421 shares in the company, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.95% of the company's stock.

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.