MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,750 shares of the company's stock after purchasing an additional 3,610 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Royal Caribbean Cruises were worth $5,940,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its stake in shares of Royal Caribbean Cruises by 618.8% during 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 in the last quarter. Bay Harbor Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter worth about $36,000. Truvestments Capital LLC purchased a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at about $36,000. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of Royal Caribbean Cruises by 100.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company's stock valued at $46,000 after acquiring an additional 100 shares during the last quarter. Finally, Quent Capital LLC raised its position in shares of Royal Caribbean Cruises by 40.2% during the 4th quarter. Quent Capital LLC now owns 237 shares of the company's stock worth $55,000 after acquiring an additional 68 shares in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Performance

NYSE:RCL traded up $0.55 during midday trading on Thursday, reaching $238.30. The stock had a trading volume of 1,141,367 shares, compared to its average volume of 2,275,038. The stock has a market cap of $64.71 billion, a P/E ratio of 22.29, a P/E/G ratio of 0.90 and a beta of 2.12. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a 12-month low of $130.08 and a 12-month high of $277.08. The firm has a fifty day simple moving average of $214.31 and a two-hundred day simple moving average of $230.60.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the firm earned $1.77 earnings per share. The business's quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire 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 Dividend Announcement

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 given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.26%. Royal Caribbean Cruises's payout ratio is 24.92%.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction on 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 sale, the director now directly owns 165,421 shares in the company, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.95% of the company's stock.

Wall Street Analysts Forecast Growth

RCL has been the topic of several recent analyst reports. Truist Financial increased their price target on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a research note on Monday. Northcoast Research initiated coverage on shares of Royal Caribbean Cruises in a research report on Friday, April 25th. They issued a "buy" rating and a $279.00 target price on the stock. Macquarie cut 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 research note on Friday, May 9th. Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday, April 21st. Finally, Susquehanna dropped their price objective on Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating on the stock in a report on Wednesday, April 30th. Four 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $271.95.

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.