OLD National Bancorp IN Purchases New Stake in Royal Caribbean Cruises Ltd. $RCL

OLD National Bancorp IN purchased a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,486 shares of the company's stock, valued at approximately $465,000.

Other hedge funds have also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of Royal Caribbean Cruises during the first quarter valued at approximately $358,614,000. Vanguard Group Inc. raised its stake in shares of Royal Caribbean Cruises by 2.1% during the first quarter. Vanguard Group Inc. now owns 28,674,763 shares of the company's stock valued at $5,890,943,000 after purchasing an additional 602,447 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Royal Caribbean Cruises by 21.8% during the first quarter. Bank of New York Mellon Corp now owns 2,991,079 shares of the company's stock valued at $614,487,000 after purchasing an additional 535,043 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of Royal Caribbean Cruises by 179.2% during the first quarter. Adage Capital Partners GP L.L.C. now owns 645,200 shares of the company's stock valued at $132,550,000 after purchasing an additional 414,100 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Royal Caribbean Cruises by 112.9% during the first quarter. Ameriprise Financial Inc. now owns 566,273 shares of the company's stock valued at $116,396,000 after purchasing an additional 300,232 shares during the period. Hedge funds and other institutional investors own 87.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RCL shares. UBS Group lifted their price objective on shares of Royal Caribbean Cruises from $311.00 to $353.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Tigress Financial lifted their price objective on shares of Royal Caribbean Cruises from $330.00 to $415.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. lifted their price objective on shares of Royal Caribbean Cruises from $302.00 to $367.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Susquehanna reissued a "positive" rating and set a $385.00 price target (up previously from $275.00) on shares of Royal Caribbean Cruises in a research report on Wednesday, July 30th. Finally, Truist Financial decreased their price target on shares of Royal Caribbean Cruises from $337.00 to $333.00 and set a "hold" rating for the company in a research report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $326.95.

Royal Caribbean Cruises Stock Down 0.9%

RCL stock opened at $314.56 on Wednesday. Royal Caribbean Cruises Ltd. has a twelve month low of $164.01 and a twelve 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. The company has a market capitalization of $85.44 billion, a P/E ratio of 23.58, a PEG ratio of 0.89 and a beta of 2.08. The firm has a 50 day simple moving average of $330.46 and a 200-day simple moving average of $283.46.

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

Royal Caribbean Cruises Increases Dividend

The firm 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 $1.00 dividend. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.75. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 25th. Royal Caribbean Cruises's dividend payout ratio is presently 29.99%.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 10,300 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $330.04, for a total value of $3,399,412.00. Following the completion of the transaction, the director owned 16,407 shares of the company's stock, valued at $5,414,966.28. The trade was a 38.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Henry L. Pujol sold 5,207 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $329.47, for a total transaction of $1,715,550.29. Following the completion of the transaction, the chief accounting officer directly owned 7,826 shares of the company's stock, valued at approximately $2,578,432.22. This represents a 39.95% decrease in their position. 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 over the last 90 days. 6.95% of the stock is owned by company insiders.

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.

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