Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. decreased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 6.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 233,968 shares of the company's stock after selling 14,985 shares during the quarter. Royal Caribbean Cruises comprises about 0.7% of Pinnacle Associates Ltd.'s holdings, making the stock its 25th largest position. Pinnacle Associates Ltd. owned 0.09% of Royal Caribbean Cruises worth $48,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors raised its position in shares of Royal Caribbean Cruises by 0.9% in the fourth quarter. Capital International Investors now owns 29,712,610 shares of the company's stock valued at $6,854,905,000 after buying an additional 278,860 shares during the last quarter. Geode Capital Management LLC grew its stake in Royal Caribbean Cruises by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock worth $1,373,856,000 after acquiring an additional 353,893 shares during the period. Norges Bank acquired a new position in Royal Caribbean Cruises in the 4th quarter valued at $707,833,000. Bank of New York Mellon Corp lifted its stake in shares of Royal Caribbean Cruises by 21.8% during the 1st quarter. Bank of New York Mellon Corp now owns 2,991,079 shares of the company's stock worth $614,487,000 after purchasing an additional 535,043 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Royal Caribbean Cruises by 24.0% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,653,258 shares of the company's stock worth $612,080,000 after purchasing an additional 513,702 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Up 0.9%

Shares of NYSE RCL traded up $3.17 on Friday, hitting $352.53. The company had a trading volume of 1,652,227 shares, compared to its average volume of 2,516,955. 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 Ltd. has a 12-month low of $130.08 and a 12-month high of $355.91. 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. The business has a 50 day moving average of $292.10 and a two-hundred day moving average of $249.39.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, topping 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 firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the company posted $1.77 EPS. Royal Caribbean Cruises's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 0.85%. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 24.92%.

Analyst Upgrades and Downgrades

Several research firms recently commented on RCL. Morgan Stanley upped their target price on Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Sanford C. Bernstein increased their price objective on shares of Royal Caribbean Cruises from $290.00 to $360.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. William Blair reissued an "outperform" rating on shares of Royal Caribbean Cruises in a research report on Wednesday. Jefferies Financial Group upped their price target on shares of Royal Caribbean Cruises from $235.00 to $315.00 and gave the stock a "hold" rating in a research report on Monday, July 7th. Finally, Truist Financial reaffirmed a "hold" rating and set a $337.00 price target (up previously from $275.00) on shares of Royal Caribbean Cruises in a research note on Monday. Five 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $311.05.

Insiders Place Their Bets

In related news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction 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 sale, 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 accessible through the SEC website. Insiders own 6.95% of the company's stock.

Royal Caribbean Cruises 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.