M&T Bank Corp Increases Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

M&T Bank Corp lifted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,932 shares of the company's stock after buying an additional 895 shares during the quarter. M&T Bank Corp's holdings in Royal Caribbean Cruises were worth $3,068,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Royal Caribbean Cruises by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock valued at $1,373,856,000 after buying an additional 353,893 shares during the period. Dorsey Wright & Associates purchased a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $4,221,000. Revisor Wealth Management LLC purchased a new stake in Royal Caribbean Cruises during the 1st quarter worth approximately $1,525,000. Groupama Asset Managment purchased a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $1,122,000. Finally, Brown Miller Wealth Management LLC purchased a new stake in Royal Caribbean Cruises during the 1st quarter worth approximately $266,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Trading Down 0.8%

NYSE:RCL opened at $338.53 on Friday. Royal Caribbean Cruises Ltd. has a 12-month low of $130.08 and a 12-month high of $342.56. The firm has a market capitalization of $91.93 billion, a P/E ratio of 28.12, a P/E/G ratio of 1.01 and a beta of 2.17. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.18 and a quick ratio of 0.15. The business has a 50 day simple moving average of $272.55 and a 200 day simple moving average of $242.30.

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

Royal Caribbean Cruises Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.89%. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 24.92%.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the completion of the transaction, the director owned 165,421 shares in the company, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.95% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Sanford C. Bernstein lifted their price objective on Royal Caribbean Cruises from $290.00 to $360.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. The Goldman Sachs Group dropped their price objective on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. BNP Paribas assumed coverage on Royal Caribbean Cruises in a report on Thursday, March 27th. They set an "outperform" rating and a $262.00 price objective on the stock. Northcoast Research initiated coverage on Royal Caribbean Cruises in a report on Friday, April 25th. They set a "buy" rating and a $279.00 price objective on the stock. Finally, Stifel Nicolaus lifted their target price on Royal Caribbean Cruises from $310.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday. Four equities research 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $293.90.

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.

Want to see what other hedge funds are holding RCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.