Public Employees Retirement System of Ohio Has $24.63 Million Stock Position in Royal Caribbean Cruises Ltd. $RCL

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Royal Caribbean Cruises Ltd. by 7.7%, bringing its total holdings to approximately $24.63 million in stock.
• Royal Caribbean Cruises recently beat earnings estimates with a reported EPS of $4.38 and projected strong guidance for FY 2025 of $15.410-15.550 EPS.
• The company announced a quarterly dividend increase, boosting it from $0.75 to $1.00 per share, representing an annualized yield of 1.2%.

Public Employees Retirement System of Ohio increased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 7.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,664 shares of the company's stock after purchasing an additional 5,653 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Royal Caribbean Cruises were worth $24,633,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Royal Caribbean Cruises by 2.1% in the first quarter. Vanguard Group Inc. now owns 28,674,763 shares of the company's stock worth $5,890,943,000 after purchasing an additional 602,447 shares during the period. Bank of New York Mellon Corp increased its position in Royal Caribbean Cruises by 21.8% in the first 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. Nuveen LLC acquired a new stake in Royal Caribbean Cruises in the first quarter worth about $358,614,000. GAMMA Investing LLC increased its position in Royal Caribbean Cruises by 22,154.9% in the first quarter. GAMMA Investing LLC now owns 1,410,962 shares of the company's stock worth $289,868,000 after purchasing an additional 1,404,622 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Royal Caribbean Cruises by 4.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,332,682 shares of the company's stock worth $273,786,000 after purchasing an additional 59,743 shares during the period. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Royal Caribbean Cruises

In related news, CAO Henry L. Pujol sold 5,207 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $329.47, for a total value of $1,715,550.29. Following the sale, the chief accounting officer owned 7,826 shares of the company's stock, valued at approximately $2,578,432.22. This trade represents a 39.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vagn O. Sorensen sold 10,300 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $330.04, for a total value of $3,399,412.00. Following the completion of the sale, the director directly owned 16,407 shares in the company, valued at approximately $5,414,966.28. This represents a 38.57% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,507 shares of company stock valued at $10,091,282. 6.95% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Truist Financial reduced their target price on Royal Caribbean Cruises from $337.00 to $333.00 and set a "hold" rating on the stock in a report on Friday, September 19th. Barclays raised their target price on Royal Caribbean Cruises from $263.00 to $358.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Wall Street Zen cut Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Bank of America raised their target price on Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. raised their target price on Royal Caribbean Cruises from $302.00 to $367.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $326.95.

Royal Caribbean Cruises Stock Down 0.6%

Shares of Royal Caribbean Cruises stock opened at $324.92 on Friday. The business's 50 day simple moving average is $335.02 and its 200 day simple moving average is $276.99. Royal Caribbean Cruises Ltd. has a 52-week low of $164.01 and a 52-week high of $366.50. The firm has a market cap of $88.26 billion, a PE ratio of 24.36, a P/E/G ratio of 0.92 and a beta of 2.12. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.21 and a current ratio of 0.23.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.04 by $0.34. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%.The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the firm earned $3.21 EPS. Royal Caribbean Cruises's revenue for the quarter was up 10.4% compared to the same quarter last year. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. On average, analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 13th. Investors of record on Thursday, September 25th will be given a $1.00 dividend. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $4.00 dividend on an annualized basis and a yield of 1.2%. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.75. Royal Caribbean Cruises's payout ratio is 22.49%.

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.

Want to see what other hedge funds are holding RCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.