Ramirez Asset Management Inc. Purchases Shares of 777 Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Ramirez Asset Management Inc. acquired a new stake in Royal Caribbean Cruises Ltd. worth approximately $160,000 by purchasing 777 shares during the first quarter of the year.
• Institutional investors collectively own 87.53% of Royal Caribbean's stock, with significant increases in holdings reported by Capital International Investors and Geode Capital Management.
• Royal Caribbean Cruises recently reported $2.71 earnings per share, exceeding analyst expectations, alongside a quarterly dividend of $0.75 per share, reflecting a 0.85% yield.

Ramirez Asset Management Inc. bought a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 777 shares of the company's stock, valued at approximately $160,000.

A number of other large investors also recently bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in Royal Caribbean Cruises by 3.7% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,468 shares of the company's stock worth $507,000 after buying an additional 89 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its holdings in Royal Caribbean Cruises by 3,706.0% during the 1st quarter. Pin Oak Investment Advisors Inc. now owns 3,806 shares of the company's stock worth $790,000 after buying an additional 3,706 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in Royal Caribbean Cruises by 8.9% during the 1st quarter. Foundations Investment Advisors LLC now owns 2,694 shares of the company's stock worth $553,000 after buying an additional 221 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Royal Caribbean Cruises by 2.3% during the 1st quarter. Mackenzie Financial Corp now owns 131,774 shares of the company's stock worth $27,072,000 after purchasing an additional 2,931 shares during the period. Finally, Second Half Financial Partners LLC raised its position in shares of Royal Caribbean Cruises by 17.8% during the 1st quarter. Second Half Financial Partners LLC now owns 2,060 shares of the company's stock worth $423,000 after purchasing an additional 312 shares during the period. Institutional investors own 87.53% of the company's stock.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of the business's 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 sale, the director directly owned 165,421 shares of the company's stock, valued at $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.95% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RCL shares. Jefferies Financial Group increased 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, July 7th. Truist Financial set a $337.00 price target on Royal Caribbean Cruises in a research report on Wednesday. Sanford C. Bernstein increased their price target on Royal Caribbean Cruises from $290.00 to $360.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. TD Cowen began coverage on Royal Caribbean Cruises in a research report on Tuesday, July 22nd. They issued a "buy" rating and a $405.00 target price on the stock. Finally, Bank of America raised their target price on Royal Caribbean Cruises from $230.00 to $355.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $321.10.

Royal Caribbean Cruises Trading Down 1.3%

Shares of NYSE:RCL traded down $4.07 during mid-day trading on Friday, reaching $313.80. 1,788,099 shares of the company's stock were exchanged, compared to its average volume of 2,575,906. The firm has a market capitalization of $85.22 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 0.93 and a beta of 2.17. The business's fifty day moving average price is $301.16 and its 200-day moving average price is $253.21. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.15 and a current ratio of 0.23. Royal Caribbean Cruises Ltd. has a twelve month low of $130.08 and a twelve month high of $355.91.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.34. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.54 billion. Royal Caribbean Cruises had a net margin of 20.97% and a return on equity of 47.15%. Royal Caribbean Cruises's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.21 earnings per share. On average, research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.0%. Royal Caribbean Cruises's dividend payout ratio is currently 22.49%.

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.