QRG Capital Management Inc. Purchases 42,443 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

QRG Capital Management Inc. raised its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 94.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,511 shares of the company's stock after buying an additional 42,443 shares during the period. QRG Capital Management Inc.'s holdings in Royal Caribbean Cruises were worth $17,978,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Precision Wealth Strategies LLC increased its holdings in shares of Royal Caribbean Cruises by 17.1% in the 1st quarter. Precision Wealth Strategies LLC now owns 2,534 shares of the company's stock worth $521,000 after buying an additional 370 shares during the last quarter. Sagespring Wealth Partners LLC increased its holdings in shares of Royal Caribbean Cruises by 5.1% in the 1st quarter. Sagespring Wealth Partners LLC now owns 7,679 shares of the company's stock worth $1,578,000 after buying an additional 371 shares during the last quarter. Great Lakes Retirement Inc. bought a new position in shares of Royal Caribbean Cruises in the 1st quarter worth $1,035,000. Sowell Financial Services LLC increased its holdings in shares of Royal Caribbean Cruises by 1.3% in the 1st quarter. Sowell Financial Services LLC now owns 15,683 shares of the company's stock worth $3,222,000 after buying an additional 202 shares during the last quarter. Finally, Brown Miller Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises in the 1st quarter worth $266,000. Institutional investors own 87.53% of the company's stock.

Insider Activity at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction dated 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 $41,868,055.10. This trade represents a 10.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.95% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RCL shares. Morgan Stanley upped their price objective on shares of 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. Citigroup increased their target price on shares of Royal Caribbean Cruises from $268.00 to $318.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Northcoast Research began coverage on shares of Royal Caribbean Cruises in a report on Friday, April 25th. They set a "buy" rating and a $279.00 target price on the stock. BNP Paribas began coverage on shares of Royal Caribbean Cruises in a report on Thursday, March 27th. They set an "outperform" rating and a $262.00 target price on the stock. Finally, Barclays increased their target price on shares of Royal Caribbean Cruises from $249.00 to $263.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and a consensus price target of $276.90.

Royal Caribbean Cruises Trading Down 3.0%

NYSE:RCL opened at $257.77 on Monday. The company has a 50-day moving average price of $232.33 and a 200-day moving average price of $233.87. Royal Caribbean Cruises Ltd. has a 12 month low of $130.08 and a 12 month high of $279.89. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The stock has a market cap of $70.00 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 0.90 and a beta of 2.14.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its 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 net margin of 17.46% and a return on equity of 48.97%. The firm had revenue of $4 billion during the quarter, compared to analysts' expectations of $4.02 billion. During the same period last year, the company posted $1.77 EPS. The company's quarterly revenue was up 7.3% compared to the same quarter last year. Equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.16%. Royal Caribbean Cruises's dividend payout ratio (DPR) is currently 24.92%.

Royal Caribbean Cruises Company 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.

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