Mackenzie Financial Corp Increases Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Mackenzie Financial Corp increased its stake in Royal Caribbean Cruises Ltd. by 2.3% in Q1, bringing its total holdings to approximately $27.07 million based on 131,774 shares.
• In the latest analyst updates, Susquehanna reduced their price target on RCL shares from $295.00 to $275.00, while Stifel Nicolaus raised theirs significantly from $310.00 to $400.00, maintaining a "buy" rating.
• The company recently reported a quarterly earnings per share of $4.38, exceeding expectations and indicating a revenue growth of 10.4% compared to the previous year.

Mackenzie Financial Corp boosted its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,774 shares of the company's stock after buying an additional 2,931 shares during the quarter. Mackenzie Financial Corp's holdings in Royal Caribbean Cruises were worth $27,072,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Royal Caribbean Cruises by 12.2% during the fourth quarter. Brighton Jones LLC now owns 1,312 shares of the company's stock worth $303,000 after buying an additional 143 shares during the period. Teacher Retirement System of Texas lifted its position in Royal Caribbean Cruises by 39.8% during the fourth quarter. Teacher Retirement System of Texas now owns 2,288 shares of the company's stock valued at $528,000 after purchasing an additional 651 shares during the period. Orion Portfolio Solutions LLC lifted its position in Royal Caribbean Cruises by 30.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 12,474 shares of the company's stock valued at $2,878,000 after purchasing an additional 2,893 shares during the period. Brown Brothers Harriman & Co. lifted its position in Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after purchasing an additional 99 shares during the period. Finally, Schroder Investment Management Group lifted its position in Royal Caribbean Cruises by 50.5% during the fourth quarter. Schroder Investment Management Group now owns 53,628 shares of the company's stock valued at $12,482,000 after purchasing an additional 17,994 shares during the period. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the transaction, the director directly owned 165,421 shares in the company, valued at $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 SEC, which is available through this link. Also, CAO Henry L. Pujol sold 5,207 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $329.47, for a total transaction of $1,715,550.29. Following the transaction, the chief accounting officer owned 7,826 shares in the company, valued at approximately $2,578,432.22. This trade represents a 39.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.95% of the company's stock.

Royal Caribbean Cruises Stock Down 1.2%

Shares of Royal Caribbean Cruises stock traded down $3.75 during trading on Friday, hitting $314.12. 2,827,375 shares of the stock were exchanged, compared to its average volume of 2,306,951. The stock has a market cap of $85.32 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 0.88 and a beta of 2.22. The firm's 50-day moving average price is $302.63 and its 200 day moving average price is $253.95. Royal Caribbean Cruises Ltd. has a 12-month low of $130.08 and a 12-month high of $355.91. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.23 and a quick ratio of 0.21.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share for the quarter, beating analysts' consensus estimates of $4.04 by $0.34. Royal Caribbean Cruises had a net margin of 20.97% and a return on equity of 47.15%. The firm had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.54 billion. During the same period in the previous year, the company earned $3.21 earnings per share. Royal Caribbean Cruises's quarterly revenue was up 10.4% compared to the same quarter last year. As a group, analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.0%. Royal Caribbean Cruises's dividend payout ratio is presently 22.49%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RCL shares. Stifel Nicolaus increased their target price on shares of Royal Caribbean Cruises from $400.00 to $420.00 and gave the stock a "buy" rating in a research note on Wednesday. Citigroup increased their target price on shares of Royal Caribbean Cruises from $390.00 to $399.00 and gave the stock a "buy" rating in a research note on Wednesday. Truist Financial set a $337.00 target price on shares of Royal Caribbean Cruises in a research note on Wednesday. William Blair reissued an "outperform" rating on shares of Royal Caribbean Cruises in a research note on Wednesday, July 23rd. Finally, Melius Research raised shares of Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday, April 21st. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Royal Caribbean Cruises has an average rating of "Moderate Buy" and an average target price of $321.10.

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.