Oppenheimer Asset Management Inc. Has $1.90 Million Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Oppenheimer Asset Management Inc. grew its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 152.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,241 shares of the company's stock after purchasing an additional 5,575 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Royal Caribbean Cruises were worth $1,898,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Royal Caribbean Cruises by 2.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company's stock valued at $470,000 after purchasing an additional 39 shares in the last quarter. Ostrum Asset Management increased its position in shares of Royal Caribbean Cruises by 0.3% in the fourth quarter. Ostrum Asset Management now owns 11,610 shares of the company's stock valued at $2,678,000 after acquiring an additional 40 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Royal Caribbean Cruises by 1.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company's stock worth $630,000 after acquiring an additional 42 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in Royal Caribbean Cruises by 3.6% during the fourth quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company's stock valued at $313,000 after purchasing an additional 47 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Royal Caribbean Cruises by 2.5% during the first quarter. UMB Bank n.a. now owns 2,131 shares of the company's stock valued at $438,000 after purchasing an additional 52 shares during the last quarter. 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 dated 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 sale, the director now directly owns 165,421 shares of the company's stock, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Price Performance

Shares of RCL traded up $14.80 during mid-day trading on Friday, reaching $310.69. The company had a trading volume of 12,059,439 shares, compared to its average volume of 2,338,475. The company has a market capitalization of $84.37 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 0.85 and a beta of 2.14. 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 company's 50 day simple moving average is $246.69 and its 200 day simple moving average is $235.66. Royal Caribbean Cruises Ltd. has a 1-year low of $130.08 and a 1-year high of $310.69.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the firm earned $1.77 EPS. The firm's revenue was up 7.3% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.97%. Royal Caribbean Cruises's dividend payout ratio is currently 24.92%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RCL. 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 research note on Wednesday, April 23rd. Loop Capital reaffirmed a "buy" rating and set a $290.00 price target (up from $250.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, June 3rd. Northcoast Research began coverage on shares of Royal Caribbean Cruises in a research report on Friday, April 25th. They issued a "buy" rating and a $279.00 price objective for the company. Jefferies Financial Group started coverage on shares of Royal Caribbean Cruises in a report on Monday, March 31st. They issued a "hold" rating and a $230.00 price objective on the stock. Finally, Citigroup raised their target price on shares of Royal Caribbean Cruises from $268.00 to $318.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises has an average rating of "Moderate Buy" and an average price target of $276.90.

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.