Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 19.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,781 shares of the company's stock after purchasing an additional 4,879 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Royal Caribbean Cruises were worth $6,182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its position in shares of Royal Caribbean Cruises by 618.8% in the 4th 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 last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth about $35,000. Truvestments Capital LLC purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $36,000. Capital A Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at about $40,000. Finally, Spurstone Advisory Services LLC purchased a new position in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $46,000. Institutional investors own 87.53% of the company's stock.

Royal Caribbean Cruises Trading Up 3.5%

Shares of NYSE RCL traded up $11.07 during trading on Wednesday, hitting $326.17. 2,938,413 shares of the company were exchanged, compared to its average volume of 2,349,990. The company has a fifty day moving average price of $253.82 and a 200-day moving average price of $237.01. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.15 and a current ratio of 0.18. The firm has a market capitalization of $88.57 billion, a PE ratio of 27.09, a P/E/G ratio of 0.93 and a beta of 2.17. Royal Caribbean Cruises Ltd. has a 12-month low of $130.08 and a 12-month high of $327.45.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The company had revenue of $4 billion for the quarter, compared to analysts' expectations of $4.02 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. Royal Caribbean Cruises's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.92%. Royal Caribbean Cruises's dividend payout ratio (DPR) is 24.92%.

Insiders Place Their Bets

In other Royal Caribbean Cruises 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 sale, the director directly owned 165,421 shares in the company, valued at $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.95% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RCL. Citigroup boosted their price target on shares of Royal Caribbean Cruises from $268.00 to $318.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Melius Research raised Royal Caribbean Cruises to a "strong-buy" rating in a research report on Monday, April 21st. Wall Street Zen lowered shares of Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a report on Saturday. UBS Group set a $311.00 target price on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, Jefferies Financial Group began coverage on shares of Royal Caribbean Cruises in a research report on Monday, March 31st. They issued a "hold" rating and a $230.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $280.40.

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.