Raleigh Capital Management Inc. Acquires 860 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Raleigh Capital Management Inc. grew its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 80.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,934 shares of the company's stock after buying an additional 860 shares during the period. Raleigh Capital Management Inc.'s holdings in Royal Caribbean Cruises were worth $397,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Royal Caribbean Cruises by 12.2% in the fourth quarter. Brighton Jones LLC now owns 1,312 shares of the company's stock valued at $303,000 after purchasing an additional 143 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Royal Caribbean Cruises by 8.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,924 shares of the company's stock valued at $905,000 after purchasing an additional 299 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Royal Caribbean Cruises by 5.3% during the fourth quarter. Victory Capital Management Inc. now owns 85,684 shares of the company's stock worth $19,766,000 after acquiring an additional 4,300 shares in the last quarter. Atria Investments Inc raised its holdings in Royal Caribbean Cruises by 8.7% during the fourth quarter. Atria Investments Inc now owns 13,146 shares of the company's stock worth $3,033,000 after acquiring an additional 1,054 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in Royal Caribbean Cruises by 10.5% during the fourth quarter. M&T Bank Corp now owns 14,037 shares of the company's stock worth $3,238,000 after acquiring an additional 1,334 shares in the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RCL shares. Macquarie dropped their target price on Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Truist Financial upped their target price on Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Loop Capital reiterated a "buy" rating and set a $290.00 target price (up previously from $250.00) on shares of Royal Caribbean Cruises in a report on Tuesday, June 3rd. Wall Street Zen lowered Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Finally, Jefferies Financial Group boosted their price target on Royal Caribbean Cruises from $235.00 to $315.00 and gave the stock a "hold" rating in a research report on Monday. Four 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 company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $284.65.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was 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. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.95% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock traded up $1.60 on Tuesday, hitting $330.45. The stock had a trading volume of 2,328,401 shares, compared to its average volume of 2,362,943. Royal Caribbean Cruises Ltd. has a twelve month low of $130.08 and a twelve month high of $336.63. The business's 50 day moving average is $263.32 and its two-hundred day moving average is $239.64. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 2.21. The stock has a market cap of $89.74 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 0.98 and a beta of 2.17.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.18. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.02 billion. Royal Caribbean Cruises had a return on equity of 47.89% and a net margin of 19.38%. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.77 earnings per share. Analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.91%. Royal Caribbean Cruises's dividend payout ratio is currently 24.92%.

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.