Mediolanum International Funds Ltd Grows Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Mediolanum International Funds Ltd increased its stake in Royal Caribbean Cruises Ltd. by 432.8%, owning 7,220 shares valued at approximately $1.5 million.
• Royal Caribbean Cruises has received various price target adjustments from analysts, with Citigroup raising its target to $390.00, signaling a positive outlook for the stock.
• The company's recent quarterly earnings surpassed expectations, reporting $4.38 earnings per share, up from $3.21 the previous year, and showing a revenue increase of 10.4% year-over-year.

Mediolanum International Funds Ltd increased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 432.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,220 shares of the company's stock after purchasing an additional 5,865 shares during the quarter. Mediolanum International Funds Ltd's holdings in Royal Caribbean Cruises were worth $1,499,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. bought a new stake in shares of Royal Caribbean Cruises in the 1st quarter valued at about $25,000. Hughes Financial Services LLC purchased a new position in Royal Caribbean Cruises during the first quarter valued at approximately $26,000. Brown Brothers Harriman & Co. increased its holdings 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 buying an additional 99 shares during the period. Optimum Investment Advisors bought a new position in Royal Caribbean Cruises in the first quarter worth approximately $31,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in Royal Caribbean Cruises during the fourth quarter worth $35,000. Institutional investors own 87.53% of the company's stock.

Royal Caribbean Cruises Stock Performance

RCL traded down $4.65 during trading on Friday, reaching $313.22. 1,486,497 shares of the company's stock were exchanged, compared to its average volume of 2,573,981. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.23 and a quick ratio of 0.15. The company's fifty day simple moving average is $301.16 and its 200-day simple moving average is $253.21. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $355.91. The stock has a market capitalization of $85.06 billion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 0.93 and a beta of 2.17.

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, topping the consensus estimate of $4.04 by $0.34. The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.54 billion. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the firm earned $3.21 EPS. As a group, research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.0%. Royal Caribbean Cruises's dividend payout ratio is currently 22.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RCL. Sanford C. Bernstein lifted their price target on Royal Caribbean Cruises from $290.00 to $360.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. The Goldman Sachs Group reduced their target price on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. UBS Group set a $311.00 price target on shares of Royal Caribbean Cruises and gave the company a "buy" rating in a research report on Tuesday, May 20th. Citigroup lifted their price objective on shares of Royal Caribbean Cruises from $390.00 to $399.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Northcoast Research initiated coverage on shares of Royal Caribbean Cruises in a research report on Friday, April 25th. They set a "buy" rating and a $279.00 target price for the company. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $321.10.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $253.10, for a total value of $4,960,760.00. Following the sale, the director owned 165,421 shares in the company, valued at approximately $41,868,055.10. This represents a 10.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 6.95% of the company's stock.

Royal Caribbean Cruises 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.