Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 89.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,781 shares of the company's stock after purchasing an additional 3,679 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Royal Caribbean Cruises were worth $1,599,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. grew its stake in Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in Royal Caribbean Cruises during the fourth quarter worth about $35,000. Truvestments Capital LLC purchased a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $36,000. Capital A Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $40,000. Finally, Spurstone Advisory Services LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RCL shares. Citigroup raised their price target on Royal Caribbean Cruises from $268.00 to $318.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th. Wall Street Zen downgraded shares of Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. 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 for the company. Jefferies Financial Group raised their price objective on Royal Caribbean Cruises from $235.00 to $315.00 and gave the stock a "hold" rating in a report on Monday. Finally, Sanford C. Bernstein increased their price objective on shares of Royal Caribbean Cruises from $290.00 to $360.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of "Moderate Buy" and a consensus target price of $284.65.

Insiders Place Their Bets

In other Royal Caribbean Cruises 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 sale, the director directly owned 165,421 shares in the company, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 6.95% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Stock Performance

RCL stock opened at $328.55 on Tuesday. The stock's 50 day simple moving average is $263.32 and its 200 day simple moving average is $239.64. Royal Caribbean Cruises Ltd. has a 12-month low of $130.08 and a 12-month high of $336.63. The firm has a market cap of $89.22 billion, a P/E ratio of 27.29, a P/E/G ratio of 0.99 and a beta of 2.17. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21.

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, topping analysts' consensus estimates 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 analysts' expectations of $4.02 billion. During the same period in the prior year, the company earned $1.77 earnings per share. The firm's revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.91%. Royal Caribbean Cruises's payout ratio is currently 24.92%.

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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