Leeward Investments LLC MA Purchases 9,501 Shares of Royal Caribbean Cruises Ltd. $RCL

Key Points

• Leeward Investments increased its Royal Caribbean position by 49.3% in the third quarter, acquiring 9,501 additional shares for a total holding of 28,786 shares valued at approximately $7.65 million.
• Institutional investors own 87.53% of RCL, while analysts maintain a “Moderate Buy” consensus with an average price target of $350.50.
• Royal Caribbean beat quarterly earnings expectations with $4.21 in EPS and $4.83 billion in revenue, and pays a quarterly dividend of $1.50, equivalent to a 2.1% annual yield.

Leeward Investments LLC MA increased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 49.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,786 shares of the company's stock after acquiring an additional 9,501 shares during the period. Leeward Investments LLC MA's holdings in Royal Caribbean Cruises were worth $7,653,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE acquired a new stake in Royal Caribbean Cruises in the second quarter worth approximately $321,332,000. Envestnet Asset Management Inc. raised its holdings in Royal Caribbean Cruises by 5.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 293,714 shares of the company's stock worth $93,261,000 after buying an additional 14,018 shares during the period. Quantitative Investment Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the second quarter valued at approximately $3,586,000. Proficio Capital Partners LLC purchased a new stake in shares of Royal Caribbean Cruises in the second quarter valued at $650,000. Finally, State of Michigan Retirement System acquired a new stake in Royal Caribbean Cruises during the 1st quarter worth about $18,080,000. 87.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RCL has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on shares of Royal Caribbean Cruises from $388.00 to $358.00 and set an "overweight" rating on the stock in a research note on Monday, October 12th. Truist Financial lifted their price objective on Royal Caribbean Cruises from $297.00 to $298.00 and gave the stock a "hold" rating in a research note on Thursday, September 24th. Stifel Nicolaus upped their target price on shares of Royal Caribbean Cruises from $410.00 to $415.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. TD Cowen upped their price target on Royal Caribbean Cruises from $337.00 to $340.00 and gave the company a "buy" rating in a report on Tuesday, October 20th. Finally, UBS Group reiterated a "buy" rating on shares of Royal Caribbean Cruises in a research report on Wednesday, September 23rd. Twenty research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of "Moderate Buy" and a consensus price target of $350.50.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, CEO Michael Bayley sold 12,811 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $315.99, for a total value of $4,048,147.89. Following the transaction, the chief executive officer owned 45,297 shares of the company's stock, valued at approximately $14,313,399.03. This represents a 22.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.44% of the company's stock.

Royal Caribbean Cruises Stock Performance

Royal Caribbean Cruises stock opened at $281.15 on Tuesday. Royal Caribbean Cruises Ltd. has a 12-month low of $222.22 and a 12-month high of $356.39. The stock has a 50-day simple moving average of $272.01 and a 200 day simple moving average of $286.88. The stock has a market capitalization of $75.19 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 0.97 and a beta of 1.82. The company has a quick ratio of 0.19, a current ratio of 0.21 and a debt-to-equity ratio of 2.03.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $4.21 EPS for the quarter, beating the consensus estimate of $3.98 by $0.23. The business had revenue of $4.83 billion for the quarter, compared to analysts' expectations of $4.82 billion. Royal Caribbean Cruises had a net margin of 23.54% and a return on equity of 43.33%. Royal Caribbean Cruises's revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.38 earnings per share. On average, research analysts anticipate that Royal Caribbean Cruises Ltd. will post 17.78 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were paid a $1.50 dividend. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $6.00 dividend on an annualized basis and a yield of 2.1%. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 37.08%.

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises Ltd., doing business as Royal Caribbean Group NYSE: RCL, is a global cruise company that operates vacation cruises and related travel experiences. Its fleet visits destinations across the Caribbean, Europe, Alaska, Asia, Australia, and other regions, with itineraries that typically include onboard entertainment, dining, accommodations, recreational activities, and shore excursions.

The company's principal brands include Royal Caribbean International, Celebrity Cruises, and Silversea Cruises.

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