Rhumbline Advisers Increases Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Rhumbline Advisers lifted its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 472,714 shares of the company's stock after purchasing an additional 21,311 shares during the quarter. Rhumbline Advisers owned about 0.17% of Royal Caribbean Cruises worth $97,114,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RCL. Brown Brothers Harriman & Co. increased its holdings 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 purchasing an additional 99 shares during the period. Fourth Dimension Wealth LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $35,000. Bay Harbor Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $36,000. Truvestments Capital LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $36,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $40,000. Institutional investors own 87.53% of the company's stock.

Insider Buying and Selling

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction dated 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 completion of the sale, the director now owns 165,421 shares of the company's stock, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.95% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RCL has been the topic of several research analyst reports. Macquarie decreased their price target on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Jefferies Financial Group began coverage on Royal Caribbean Cruises in a research report on Monday, March 31st. They set a "hold" rating and a $230.00 price target on the stock. Loop Capital raised their price target on Royal Caribbean Cruises from $250.00 to $290.00 and gave the company a "buy" rating in a research report on Tuesday. Truist Financial raised their price target on Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Finally, Melius Research upgraded Royal Caribbean Cruises to a "strong-buy" rating in a research report on Monday, April 21st. 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. According to data from MarketBeat.com, Royal Caribbean Cruises has an average rating of "Moderate Buy" and a consensus price target of $276.90.

Royal Caribbean Cruises Stock Up 2.2%

NYSE:RCL traded up $5.75 during trading hours on Thursday, reaching $271.39. 2,206,926 shares of the company traded hands, compared to its average volume of 2,273,862. The business's 50-day moving average price is $222.98 and its two-hundred day moving average price is $232.76. The stock has a market capitalization of $73.70 billion, a P/E ratio of 25.39, a P/E/G ratio of 0.90 and a beta of 2.14. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $277.08. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.18. The business had revenue of $4 billion during the quarter, compared to analysts' expectations of $4.02 billion. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.77 earnings per share. Analysts predict 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 stock buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Royal Caribbean Cruises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.11%. Royal Caribbean Cruises's payout ratio is 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.