KLP Kapitalforvaltning AS Grows Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

KLP Kapitalforvaltning AS increased its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,483 shares of the company's stock after buying an additional 4,200 shares during the period. KLP Kapitalforvaltning AS's holdings in Royal Caribbean Cruises were worth $17,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital International Investors lifted its position in shares of Royal Caribbean Cruises by 0.9% during the 4th quarter. Capital International Investors now owns 29,712,610 shares of the company's stock valued at $6,854,905,000 after buying an additional 278,860 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Royal Caribbean Cruises by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock valued at $1,373,856,000 after buying an additional 353,893 shares in the last quarter. Norges Bank purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $707,833,000. Bank of New York Mellon Corp lifted its position in shares of Royal Caribbean Cruises by 21.8% during the 1st quarter. Bank of New York Mellon Corp now owns 2,991,079 shares of the company's stock valued at $614,487,000 after buying an additional 535,043 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Royal Caribbean Cruises by 24.0% during 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 buying an additional 513,702 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company's stock.

Royal Caribbean Cruises Trading Up 0.9%

Shares of NYSE:RCL traded up $3.17 during midday trading on Friday, reaching $352.53. 1,652,227 shares of the company's stock were exchanged, compared to its average volume of 2,556,794. The firm's 50 day simple moving average is $292.10 and its two-hundred day simple moving average is $249.39. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.18 and a quick ratio of 0.15. The stock has a market cap of $95.73 billion, a price-to-earnings ratio of 29.28, a P/E/G ratio of 1.04 and a beta of 2.17. Royal Caribbean Cruises Ltd. has a fifty-two week low of $130.08 and a fifty-two week high of $355.91.

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. 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 during the quarter, compared to analysts' expectations of $4.02 billion. During the same period last year, the business posted $1.77 EPS. Royal Caribbean Cruises's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.85%. Royal Caribbean Cruises's dividend payout ratio (DPR) is 24.92%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. BNP Paribas assumed coverage on Royal Caribbean Cruises in a research note on Thursday, March 27th. They issued an "outperform" rating and a $262.00 price objective for the company. Truist Financial reissued a "hold" rating and issued a $337.00 price objective (up from $275.00) on shares of Royal Caribbean Cruises in a research note on Monday. Susquehanna reduced their price objective on Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating for the company in a research note on Wednesday, April 30th. Bank of America increased their price objective on Royal Caribbean Cruises from $230.00 to $355.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Morgan Stanley increased their price objective on Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises has an average rating of "Moderate Buy" and an average target price of $311.05.

Insider Buying and Selling

In related news, Director Richard D. Fain sold 19,600 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director directly owned 165,421 shares in the company, valued at $41,868,055.10. This trade represents a 10.59% decrease in their position. 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.

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.