Harvest Fund Management Co. Ltd Lowers Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Harvest Fund Management Co. Ltd has reduced its holdings in Royal Caribbean Cruises Ltd. by 62.5%, now owning 2,266 shares worth approximately $466,000.
• Royal Caribbean Cruises reported a strong quarterly earnings of $4.38 EPS, surpassing estimates and showing a 10.4% increase in revenue year-on-year.
• The company recently declared a quarterly dividend of $0.75 per share, resulting in an annualized dividend yield of 0.91%.

Harvest Fund Management Co. Ltd cut its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 62.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,266 shares of the company's stock after selling 3,776 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Royal Caribbean Cruises were worth $466,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in RCL. Financial Gravity Asset Management Inc. purchased a new stake in shares of Royal Caribbean Cruises in the first quarter worth about $25,000. Hughes Financial Services LLC purchased a new stake in shares of Royal Caribbean Cruises in the first quarter worth about $26,000. Brown Brothers Harriman & Co. lifted 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 buying an additional 99 shares in the last quarter. Optimum Investment Advisors purchased a new stake in shares of Royal Caribbean Cruises in the first quarter worth about $31,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Royal Caribbean Cruises in the fourth quarter worth about $35,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of the sale, the director owned 165,421 shares of the company's stock, valued at $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Henry L. Pujol sold 5,207 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $329.47, for a total value of $1,715,550.29. Following the completion of the sale, the chief accounting officer directly owned 7,826 shares of the company's stock, valued at $2,578,432.22. The trade was a 39.95% decrease in their position. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on RCL shares. Bank of America upped their price objective on shares of Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. TD Cowen started coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, July 22nd. They issued a "buy" rating and a $405.00 price objective on the stock. Northcoast Research started coverage on shares of Royal Caribbean Cruises in a research report on Friday, April 25th. They issued a "buy" rating and a $279.00 price objective on the stock. Truist Financial set a $337.00 price objective on shares of Royal Caribbean Cruises in a research report on Wednesday. Finally, The Goldman Sachs Group decreased their price objective on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of "Moderate Buy" and an average target price of $321.10.

Royal Caribbean Cruises Trading Down 1.2%

Shares of Royal Caribbean Cruises stock traded down $3.75 on Friday, hitting $314.12. The stock had a trading volume of 2,827,375 shares, compared to its average volume of 2,165,557. The company has a quick ratio of 0.15, a current ratio of 0.23 and a debt-to-equity ratio of 1.88. Royal Caribbean Cruises Ltd. has a one year low of $130.08 and a one year high of $355.91. The stock has a market cap of $85.32 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 0.88 and a beta of 2.22. The stock's 50-day simple moving average is $302.63 and its two-hundred day simple moving average is $253.80.

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

Royal Caribbean Cruises Dividend Announcement

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

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.