Generate Investment Management Ltd Purchases 38,230 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Generate Investment Management Ltd raised its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 45.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122,761 shares of the company's stock after purchasing an additional 38,230 shares during the period. Royal Caribbean Cruises accounts for 1.8% of Generate Investment Management Ltd's portfolio, making the stock its 13th largest holding. Generate Investment Management Ltd's holdings in Royal Caribbean Cruises were worth $25,220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its position 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 valued at $27,000 after purchasing an additional 99 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in Royal Caribbean Cruises during the 4th quarter valued at $35,000. Truvestments Capital LLC bought a new stake in Royal Caribbean Cruises in the 4th quarter valued at $36,000. Capital A Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter worth about $40,000. Finally, Spurstone Advisory Services LLC bought a new position in Royal Caribbean Cruises during the fourth quarter valued at about $46,000. Institutional investors own 87.53% of the company's stock.

Insider Buying and Selling

In other news, Director Richard D. Fain sold 19,600 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of the transaction, the director now owns 165,421 shares in the company, valued at $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.95% of the stock is owned by company insiders.

Royal Caribbean Cruises Trading Up 1.4%

NYSE:RCL traded up $3.90 during mid-day trading on Wednesday, hitting $284.37. The company had a trading volume of 2,784,628 shares, compared to its average volume of 2,299,638. The firm has a market cap of $77.22 billion, a P/E ratio of 23.62, a P/E/G ratio of 0.81 and a beta of 2.14. The business's fifty day moving average is $242.76 and its two-hundred day moving average is $234.99. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.15 and a current ratio of 0.18. Royal Caribbean Cruises Ltd. has a fifty-two week low of $130.08 and a fifty-two week high of $285.75.

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

Royal Caribbean Cruises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.05%. Royal Caribbean Cruises's dividend payout ratio is presently 24.92%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RCL. Truist Financial lifted their price target on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. UBS Group set a $311.00 price objective on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a report on Tuesday, May 20th. Melius Research raised Royal Caribbean Cruises to a "strong-buy" rating in a report on Monday, April 21st. BNP Paribas initiated coverage on Royal Caribbean Cruises in a research note on Thursday, March 27th. They issued an "outperform" rating and a $262.00 price objective on the stock. Finally, Loop Capital restated a "buy" rating and issued a $290.00 target price (up from $250.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, June 3rd. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and an average price target of $276.90.

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.