Mirae Asset Global Investments Co. Ltd. Buys 5,989 Shares of Royal Caribbean Cruises Ltd. $RCL

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Royal Caribbean Cruises Ltd. by 20.1%, acquiring an additional 5,989 shares, bringing its total holdings to 35,770 shares worth approximately $11.2 million.
• Royal Caribbean Cruises recently reported earnings of $4.38 per share, exceeding analyst expectations, and announced a dividend increase from $0.75 to $1.00 per share.
• Several analysts have revised their price targets for Royal Caribbean Cruises, with Stifel Nicolaus setting a new target of $420.00 while maintaining a "buy" rating.

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 20.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 35,770 shares of the company's stock after acquiring an additional 5,989 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Royal Caribbean Cruises were worth $11,201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of RCL. Brighton Jones LLC lifted its stake in Royal Caribbean Cruises by 12.2% during the 4th quarter. Brighton Jones LLC now owns 1,312 shares of the company's stock valued at $303,000 after acquiring an additional 143 shares during the period. Annex Advisory Services LLC lifted its stake in shares of Royal Caribbean Cruises by 8.2% in the 1st quarter. Annex Advisory Services LLC now owns 1,018 shares of the company's stock worth $209,000 after purchasing an additional 77 shares during the period. Piscataqua Savings Bank lifted its stake in shares of Royal Caribbean Cruises by 2.2% in the 1st quarter. Piscataqua Savings Bank now owns 6,625 shares of the company's stock worth $1,361,000 after purchasing an additional 140 shares during the period. Wedmont Private Capital lifted its stake in shares of Royal Caribbean Cruises by 6.3% in the 1st quarter. Wedmont Private Capital now owns 7,438 shares of the company's stock worth $1,428,000 after purchasing an additional 440 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of Royal Caribbean Cruises by 2.5% in the 1st quarter. UMB Bank n.a. now owns 2,131 shares of the company's stock worth $438,000 after purchasing an additional 52 shares during the period. Institutional investors own 87.53% of the company's stock.

Royal Caribbean Cruises Trading Down 1.8%

Royal Caribbean Cruises stock opened at $314.39 on Friday. The firm has a 50 day moving average of $331.57 and a 200 day moving average of $282.06. The firm has a market capitalization of $85.40 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 0.88 and a beta of 2.08. Royal Caribbean Cruises Ltd. has a 12-month low of $164.01 and a 12-month high of $366.50. The company has a current ratio of 0.23, a quick ratio of 0.21 and a debt-to-equity ratio of 1.88.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.34. The company had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.54 billion. Royal Caribbean Cruises had a net margin of 20.97% and a return on equity of 47.15%. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.21 EPS. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. As a group, research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 13th. Shareholders of record on Thursday, September 25th will be issued a dividend of $1.00 per share. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. Royal Caribbean Cruises's payout ratio is 29.99%.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 16,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $311.02, for a total transaction of $4,976,320.00. Following the completion of the sale, the director directly owned 150,291 shares of the company's stock, valued at $46,743,506.82. This trade represents a 9.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Vagn O. Sorensen sold 10,300 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $330.04, for a total transaction of $3,399,412.00. Following the sale, the director directly owned 16,407 shares of the company's stock, valued at approximately $5,414,966.28. This trade represents a 38.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,507 shares of company stock valued at $10,091,282 in the last three months. 6.95% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RCL. Stifel Nicolaus increased their price objective 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, July 30th. Truist Financial lowered their price objective on shares of Royal Caribbean Cruises from $337.00 to $333.00 and set a "hold" rating on the stock in a research note on Friday, September 19th. Citigroup increased 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 note on Wednesday, July 30th. Susquehanna reiterated a "positive" rating and issued a $385.00 price objective (up previously from $275.00) on shares of Royal Caribbean Cruises in a research note on Wednesday, July 30th. Finally, Barclays increased their price objective on shares of Royal Caribbean Cruises from $263.00 to $358.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $326.95.

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.

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