ProShare Advisors LLC Purchases 3,366 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

ProShare Advisors LLC lifted its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,273 shares of the company's stock after purchasing an additional 3,366 shares during the quarter. ProShare Advisors LLC's holdings in Royal Caribbean Cruises were worth $9,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Brown Brothers Harriman & Co. lifted its stake in shares of Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after buying an additional 99 shares in the last quarter. Bay Harbor Wealth Management LLC bought a new position in Royal Caribbean Cruises in the 4th quarter valued at approximately $36,000. Truvestments Capital LLC bought a new position in Royal Caribbean Cruises in the 4th quarter valued at approximately $36,000. Atlantic Edge Private Wealth Management LLC boosted its stake in Royal Caribbean Cruises by 100.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company's stock valued at $46,000 after purchasing an additional 100 shares during the last quarter. Finally, Quent Capital LLC increased its holdings in shares of Royal Caribbean Cruises by 40.2% in the 4th quarter. Quent Capital LLC now owns 237 shares of the company's stock worth $55,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 87.53% of the company's stock.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of the firm's 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.95% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Truist Financial upped their price target on Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a report on Monday. Citigroup raised their price target on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Barclays lifted their price target on shares of Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Argus increased their price objective on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus cut their target price on shares of Royal Caribbean Cruises from $310.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $271.95.

Royal Caribbean Cruises Price Performance

NYSE:RCL traded down $11.44 on Wednesday, reaching $237.77. 2,012,826 shares of the company's stock traded hands, compared to its average volume of 2,280,318. The stock has a 50-day simple moving average of $213.80 and a 200-day simple moving average of $230.55. Royal Caribbean Cruises Ltd. has a 12 month low of $130.08 and a 12 month high of $277.08. The firm has a market cap of $64.57 billion, a PE ratio of 22.24, a P/E/G ratio of 0.90 and a beta of 2.12. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the company earned $1.77 EPS. The firm's quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 1.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Royal Caribbean Cruises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.26%. Royal Caribbean Cruises's payout ratio is currently 24.92%.

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.