Longbow Finance SA Invests $3.59 Million in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Longbow Finance SA has invested approximately $3.59 million in Royal Caribbean Cruises Ltd. by acquiring 17,472 shares in the first quarter of the year.
• Multiple hedge funds have also adjusted their positions, with significant investments including Freemont Management S.A. at about $1.38 million and Cetera Investment Advisers increasing its stake by 18.8%.
• Royal Caribbean has announced a quarterly dividend of $0.75 per share, resulting in an annualized dividend payout of $3.00, representing a yield of 0.86%.

Longbow Finance SA acquired a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,472 shares of the company's stock, valued at approximately $3,589,000.

Several other hedge funds have also recently made changes to their positions in the business. Freemont Management S.A. acquired a new stake in shares of Royal Caribbean Cruises in the 1st quarter valued at about $1,376,000. Trilogy Capital Inc. acquired a new stake in shares of Royal Caribbean Cruises in the 1st quarter valued at about $349,000. Assetmark Inc. grew its stake in shares of Royal Caribbean Cruises by 6.9% in the 1st quarter. Assetmark Inc. now owns 117,468 shares of the company's stock valued at $24,133,000 after buying an additional 7,542 shares during the period. Cetera Investment Advisers grew its stake in shares of Royal Caribbean Cruises by 18.8% in the 1st quarter. Cetera Investment Advisers now owns 73,566 shares of the company's stock valued at $15,113,000 after buying an additional 11,629 shares during the period. Finally, Avantax Advisory Services Inc. grew its stake in shares of Royal Caribbean Cruises by 6.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 14,184 shares of the company's stock valued at $2,914,000 after buying an additional 822 shares during the period. 87.53% of the stock is owned by institutional investors.

Insider Activity at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of the company'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 completion of the transaction, the director directly owned 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.95% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on RCL shares. The Goldman Sachs Group reduced their target price on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Susquehanna reduced their target price 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. Sanford C. Bernstein raised their target price on Royal Caribbean Cruises from $290.00 to $360.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Jefferies Financial Group lifted their price target on Royal Caribbean Cruises from $235.00 to $315.00 and gave the company a "hold" rating in a research note on Monday, July 7th. Finally, Wall Street Zen downgraded Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Five 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 company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $311.05.

Royal Caribbean Cruises Trading Down 0.9%

NYSE:RCL opened at $349.55 on Friday. The firm's 50 day moving average is $292.10 and its 200 day moving average is $249.39. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21. Royal Caribbean Cruises Ltd. has a 12 month low of $130.08 and a 12 month high of $355.91. The stock has a market capitalization of $94.92 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 1.04 and a beta of 2.17.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The business had revenue of $4 billion for the quarter, compared to analysts' expectations of $4.02 billion. During the same quarter in the previous year, the firm posted $1.77 EPS. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.86%. Royal Caribbean Cruises's dividend payout ratio (DPR) is currently 24.92%.

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.

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