Oppenheimer & Co. Inc. Has $2.03 Million Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Oppenheimer & Co. Inc. lessened its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 59.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,889 shares of the company's stock after selling 14,232 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Royal Caribbean Cruises were worth $2,032,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RCL. Brown Brothers Harriman & Co. boosted its holdings in Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after acquiring an additional 99 shares during the period. Fourth Dimension Wealth LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at approximately $35,000. Truvestments Capital LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at approximately $36,000. Capital A Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at approximately $40,000. Finally, Spurstone Advisory Services LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 87.53% of the company's stock.

Royal Caribbean Cruises Price Performance

RCL stock traded up $14.80 during trading hours on Friday, hitting $310.69. 12,059,439 shares of the stock traded hands, compared to its average volume of 2,338,475. The stock has a 50-day simple moving average of $246.69 and a 200 day simple moving average of $235.66. Royal Caribbean Cruises Ltd. has a one year low of $130.08 and a one year high of $310.69. The company has a market cap of $84.37 billion, a P/E ratio of 25.80, a P/E/G ratio of 0.85 and a beta of 2.14. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $4.02 billion. During the same quarter last year, the business posted $1.77 earnings per share. The company's quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.97%. Royal Caribbean Cruises's dividend payout ratio is 24.92%.

Insider Activity

In related news, Director Richard D. Fain sold 19,600 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of the transaction, the director now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.95% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on RCL. Truist Financial upped their target price on Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Northcoast Research assumed coverage on Royal Caribbean Cruises in a research report on Friday, April 25th. They issued a "buy" rating and a $279.00 target price on the stock. Morgan Stanley increased their target price on Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Jefferies Financial Group initiated coverage on Royal Caribbean Cruises in a research note on Monday, March 31st. They issued a "hold" rating and a $230.00 price target for the company. Finally, Macquarie decreased their price target on 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. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.