Ridgecrest Wealth Partners LLC Buys Shares of 1,100 Royal Caribbean Cruises Ltd. (NYSE:RCL)

Ridgecrest Wealth Partners LLC bought a new stake 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 Securities & Exchange Commission. The institutional investor bought 1,100 shares of the company's stock, valued at approximately $226,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RCL. Capital International Investors grew its position in Royal Caribbean Cruises by 0.9% in the 4th quarter. Capital International Investors now owns 29,712,610 shares of the company's stock valued at $6,854,905,000 after acquiring an additional 278,860 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Royal Caribbean Cruises by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company's stock worth $6,476,003,000 after purchasing an additional 2,068,114 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Royal Caribbean Cruises by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock valued at $1,373,856,000 after purchasing an additional 353,893 shares during the period. Norges Bank bought a new position in shares of Royal Caribbean Cruises in the fourth quarter worth about $707,833,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Royal Caribbean Cruises by 24.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,653,258 shares of the company's stock worth $612,080,000 after buying an additional 513,702 shares during the period. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Price Performance

RCL opened at $272.84 on Monday. The firm has a market capitalization of $74.09 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 0.81 and a beta of 2.14. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.18 and a quick ratio of 0.15. The business's 50-day moving average is $239.38 and its two-hundred day moving average is $234.55. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $279.89.

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

Royal Caribbean Cruises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders 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 dividend yield of 1.10%. Royal Caribbean Cruises's payout ratio is presently 24.92%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RCL. Stifel Nicolaus boosted their price objective on shares of Royal Caribbean Cruises from $275.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Citigroup lifted their price target on shares of Royal Caribbean Cruises from $268.00 to $318.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Loop Capital reissued a "buy" rating and issued a $290.00 price objective (up previously from $250.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, June 3rd. Macquarie reduced their price objective 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. Finally, Barclays lifted their target price on Royal Caribbean Cruises from $249.00 to $263.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Four equities 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $276.90.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction 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 transaction, the director now directly owns 165,421 shares in the company, valued at $41,868,055.10. The trade was a 10.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.95% of the company's stock.

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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