Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. lessened its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,056 shares of the company's stock after selling 2,240 shares during the period. Royal Caribbean Cruises accounts for 1.7% of Navellier & Associates Inc.'s investment portfolio, making the stock its 9th biggest position. Navellier & Associates Inc.'s holdings in Royal Caribbean Cruises were worth $12,132,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of RCL. Financial Gravity Asset Management Inc. bought a new stake in shares of Royal Caribbean Cruises in the first quarter worth approximately $25,000. Hughes Financial Services LLC bought a new position in shares of Royal Caribbean Cruises in the first quarter worth approximately $26,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after buying an additional 99 shares in the last quarter. Optimum Investment Advisors purchased a new position in shares of Royal Caribbean Cruises in the first quarter worth $31,000. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $35,000. Institutional investors own 87.53% of the company's stock.

Insider Buying and Selling

In other news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises 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 of the company's stock, valued at $41,868,055.10. The trade was a 10.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 6.95% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on RCL. Citigroup reaffirmed a "buy" rating and set a $390.00 price target (up previously from $318.00) on shares of Royal Caribbean Cruises in a research note on Wednesday, July 16th. TD Cowen began coverage on shares of Royal Caribbean Cruises in a report on Tuesday. They set a "buy" rating and a $405.00 target price on the stock. Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a report on Monday, April 21st. Jefferies Financial Group raised their price target on shares of Royal Caribbean Cruises from $235.00 to $315.00 and gave the company a "hold" rating in a report on Monday, July 7th. Finally, Macquarie lowered their target price on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. 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 stock. According to MarketBeat.com, Royal Caribbean Cruises presently has an average rating of "Moderate Buy" and a consensus price target of $311.05.

Royal Caribbean Cruises Stock Up 0.9%

RCL stock traded up $3.17 during midday trading on Friday, hitting $352.53. The company's stock had a trading volume of 1,652,227 shares, compared to its average volume of 2,516,955. The firm has a 50-day simple moving average of $294.04 and a 200-day simple moving average of $250.27. The firm has a market capitalization of $95.73 billion, a P/E ratio of 29.28, a PEG ratio of 0.98 and a beta of 2.17. Royal Caribbean Cruises Ltd. has a 52-week low of $130.08 and a 52-week high of $355.91. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 2.21.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.53 by $0.18. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The firm's revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.77 earnings per share. As a group, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current 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 issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.85%. Royal Caribbean Cruises's dividend payout ratio is presently 24.92%.

About Royal Caribbean Cruises

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.