Mackenzie Financial Corp Has $29.72 Million Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Mackenzie Financial Corp lowered its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 6.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 128,843 shares of the company's stock after selling 8,927 shares during the period. Mackenzie Financial Corp's holdings in Royal Caribbean Cruises were worth $29,723,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital International Investors grew its holdings in Royal Caribbean Cruises by 0.9% during the fourth quarter. Capital International Investors now owns 29,712,610 shares of the company's stock worth $6,854,905,000 after purchasing an additional 278,860 shares during the period. Vanguard Group Inc. grew its holdings in Royal Caribbean Cruises by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company's stock worth $6,476,003,000 after purchasing an additional 2,068,114 shares during the period. Geode Capital Management LLC grew its holdings in Royal Caribbean Cruises by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock worth $1,373,856,000 after purchasing an additional 353,893 shares during the period. Norges Bank bought a new position in Royal Caribbean Cruises during the fourth quarter worth about $707,833,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Royal Caribbean Cruises by 24.0% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,653,258 shares of the company's stock worth $612,080,000 after acquiring an additional 513,702 shares during the last quarter. Institutional investors own 87.53% of the company's stock.

Wall Street Analyst Weigh In

RCL has been the subject of several research reports. Susquehanna cut their price objective on shares of Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating for the company in a research report on Wednesday, April 30th. Stifel Nicolaus dropped their price target on shares of Royal Caribbean Cruises from $310.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Citigroup lifted their price target on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Barclays lifted their price target on shares of Royal Caribbean Cruises from $249.00 to $263.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, Macquarie dropped their price target on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $271.95.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL traded up $15.53 during midday trading on Tuesday, reaching $255.65. 2,726,497 shares of the company were exchanged, compared to its average volume of 2,273,753. The stock's 50-day moving average price is $216.74 and its 200-day moving average price is $231.42. The stock has a market cap of $69.42 billion, a P/E ratio of 23.91, a PEG ratio of 0.90 and a beta of 2.12. Royal Caribbean Cruises Ltd. has a one year low of $130.08 and a one year high of $277.08. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its 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 firm 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 earnings per share. The company's revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate 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 will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be paid 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 is 24.92%.

Royal Caribbean Cruises declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related 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 in the company, valued at $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 is available at this hyperlink. 7.95% of the stock is currently owned by insiders.

Royal Caribbean Cruises Company 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.