Lansforsakringar Fondforvaltning AB publ Purchases New Shares in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 79,576 shares of the company's stock, valued at approximately $18,357,000.

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

Analyst Upgrades and Downgrades

RCL has been the subject of a number of research analyst reports. UBS Group set a $311.00 price target on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Tigress Financial lifted their price target on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. 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 for the company. BNP Paribas initiated coverage on shares of Royal Caribbean Cruises in a research note on Thursday, March 27th. They issued an "outperform" rating and a $262.00 price target for the company. Finally, Barclays lifted their price target on shares of Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an "overweight" rating in a research note 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $271.95.

Royal Caribbean Cruises Price Performance

Shares of RCL traded up $2.35 during mid-day trading on Friday, reaching $256.79. The stock had a trading volume of 3,481,638 shares, compared to its average volume of 2,278,265. The firm has a market cap of $69.73 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 0.90 and a beta of 2.12. Royal Caribbean Cruises Ltd. has a 12 month low of $130.08 and a 12 month high of $277.08. The business has a fifty day moving average of $218.65 and a 200 day moving average of $231.80. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17.

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

Royal Caribbean Cruises Announces Dividend

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 annualized dividend and a dividend yield of 1.17%. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 24.92%.

Royal Caribbean Cruises announced that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction 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 transaction, the director now owns 165,421 shares of the company's stock, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.95% of the company's stock.

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.