Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 4.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 595,895 shares of the company's stock after acquiring an additional 26,005 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Royal Caribbean Cruises worth $122,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its holdings in shares of Royal Caribbean Cruises by 618.8% during the 4th 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 purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $35,000. Truvestments Capital LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $36,000. Capital A Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $40,000. Finally, Spurstone Advisory Services LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $46,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Insider Buying and Selling

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 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. This trade represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Susquehanna decreased their target price on Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating for the company in a report on Wednesday, April 30th. BNP Paribas assumed coverage on Royal Caribbean Cruises in a report on Thursday, March 27th. They set an "outperform" rating and a $262.00 target price for the company. Loop Capital reiterated a "buy" rating and set a $290.00 target price (up previously from $250.00) on shares of Royal Caribbean Cruises in a report on Tuesday, June 3rd. Citigroup upped their price target on Royal Caribbean Cruises from $268.00 to $318.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Finally, Jefferies Financial Group assumed coverage on Royal Caribbean Cruises in a report on Monday, March 31st. They issued a "hold" rating and a $230.00 price target for the company. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $276.90.

Royal Caribbean Cruises Stock Performance

Royal Caribbean Cruises stock opened at $310.69 on Monday. The stock has a market cap of $84.37 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 0.92 and a beta of 2.14. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21. The stock has a 50 day moving average of $249.05 and a 200-day moving average of $235.99. Royal Caribbean Cruises Ltd. has a 52 week low of $130.08 and a 52 week high of $310.88.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.53 by $0.18. The company 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 47.89% and a net margin of 19.38%. The business's revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.77 EPS. On average, analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 0.97%. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 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.

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