Pin Oak Investment Advisors Inc. Has $790,000 Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Pin Oak Investment Advisors Inc. significantly increased its stake in Royal Caribbean Cruises Ltd. by 3,706%, bringing their total holdings to 3,806 shares valued at approximately $790,000.
• Royal Caribbean reported a quarterly earnings per share (EPS) of $2.71, exceeding analysts' estimates of $2.53, and indicated a revenue increase of 7.3% from the previous year.
• The company declared a quarterly dividend of $0.75, translating to an annualized dividend yield of 0.85%, with a payout ratio of 24.92%.

Pin Oak Investment Advisors Inc. grew its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 3,706.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,806 shares of the company's stock after buying an additional 3,706 shares during the period. Pin Oak Investment Advisors Inc.'s holdings in Royal Caribbean Cruises were worth $790,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Foundations Investment Advisors LLC grew its holdings in shares of Royal Caribbean Cruises by 8.9% in the 1st quarter. Foundations Investment Advisors LLC now owns 2,694 shares of the company's stock valued at $553,000 after buying an additional 221 shares during the period. Mackenzie Financial Corp boosted its stake in Royal Caribbean Cruises by 2.3% in the 1st quarter. Mackenzie Financial Corp now owns 131,774 shares of the company's stock worth $27,072,000 after purchasing an additional 2,931 shares during the period. Second Half Financial Partners LLC boosted its stake in Royal Caribbean Cruises by 17.8% in the 1st quarter. Second Half Financial Partners LLC now owns 2,060 shares of the company's stock worth $423,000 after purchasing an additional 312 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Royal Caribbean Cruises by 15.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 120,403 shares of the company's stock worth $24,736,000 after purchasing an additional 15,997 shares during the period. Finally, TD Asset Management Inc boosted its stake in Royal Caribbean Cruises by 4.5% in the 1st quarter. TD Asset Management Inc now owns 95,561 shares of the company's stock worth $19,632,000 after purchasing an additional 4,120 shares during the period. Institutional investors and hedge funds own 87.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RCL. Northcoast Research began coverage on shares of Royal Caribbean Cruises in a research note on Friday, April 25th. They issued a "buy" rating and a $279.00 target price for the company. The Goldman Sachs Group reduced their target price on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Melius Research raised shares of Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday, April 21st. Loop Capital reaffirmed a "buy" rating and issued a $290.00 target price (up from $250.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Royal Caribbean Cruises from $302.00 to $367.00 and gave the stock an "overweight" rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $321.10.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock traded down $11.88 on Thursday, reaching $319.27. The stock had a trading volume of 1,736,035 shares, compared to its average volume of 2,569,367. The company has a quick ratio of 0.15, a current ratio of 0.23 and a debt-to-equity ratio of 1.88. The firm's 50-day moving average is $299.59 and its two-hundred day moving average is $252.59. The firm has a market capitalization of $86.70 billion, a price-to-earnings ratio of 23.98, a P/E/G ratio of 0.94 and a beta of 2.17. Royal Caribbean Cruises Ltd. has a 12 month low of $130.08 and a 12 month high of $355.91.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.34. The firm 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 revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $3.21 earnings per share. On average, research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders 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 0.94%. Royal Caribbean Cruises's dividend payout ratio is presently 24.92%.

Insider Activity at Royal Caribbean Cruises

In other 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 transaction of $4,960,760.00. Following the transaction, the director directly owned 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.95% of the company's stock.

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.