Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Purchased by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management Inc. significantly increased its stake in Royal Caribbean Cruises Ltd. by purchasing 10,066 shares, bringing its total holdings to 10,212 shares, valued at approximately $2.1 million.
• Director Richard D. Fain sold 19,600 shares at an average price of $253.10, decreasing his total ownership by 10.59% to 165,421 shares.
• Royal Caribbean Cruises reported a quarterly EPS of $2.71, surpassing estimates, with a net margin of 19.38% and projected earnings of 14.9 EPS for the current year.

Meeder Asset Management Inc. lifted its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 6,894.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,212 shares of the company's stock after purchasing an additional 10,066 shares during the quarter. Meeder Asset Management Inc.'s holdings in Royal Caribbean Cruises were worth $2,098,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RCL. Geode Capital Management LLC raised its holdings in shares of Royal Caribbean Cruises by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock worth $1,373,856,000 after acquiring an additional 353,893 shares during the last quarter. Revisor Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises in the first quarter worth approximately $1,525,000. Groupama Asset Managment bought a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $1,122,000. Brown Miller Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises during the first quarter valued at approximately $266,000. Finally, Florida Financial Advisors LLC raised its position in Royal Caribbean Cruises by 87.6% in the 1st quarter. Florida Financial Advisors LLC now owns 1,957 shares of the company's stock valued at $402,000 after buying an additional 914 shares during the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Richard D. Fain sold 19,600 shares of the firm's stock in a transaction that occurred 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 owned 165,421 shares in the company, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.95% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on RCL shares. JPMorgan Chase & Co. lifted their price objective on shares of Royal Caribbean Cruises from $302.00 to $367.00 and gave the stock an "overweight" rating in a report on Wednesday. Wall Street Zen downgraded Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Bank of America lifted their price target on Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Truist Financial set a $337.00 price target on shares of Royal Caribbean Cruises in a report on Wednesday. Finally, Stifel Nicolaus raised their price objective on shares of Royal Caribbean Cruises from $400.00 to $420.00 and gave the stock a "buy" rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $321.10.

Royal Caribbean Cruises Trading Down 1.3%

RCL traded down $4.27 during mid-day trading on Friday, hitting $313.60. 1,832,646 shares of the stock were exchanged, compared to its average volume of 2,576,531. Royal Caribbean Cruises Ltd. has a 1-year low of $130.08 and a 1-year high of $355.91. The firm's fifty day moving average is $301.16 and its two-hundred day moving average is $253.21. The company has a market cap of $85.16 billion, a PE ratio of 23.52, a PEG ratio of 0.93 and a beta of 2.17. The company has a current ratio of 0.23, a quick ratio of 0.15 and a debt-to-equity ratio of 1.88.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $4.38 EPS 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 analyst estimates 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 was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.21 earnings per share. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The firm also recently announced 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 (DPR) is presently 22.49%.

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.