Penserra Capital Management LLC reduced its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 30.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,317 shares of the company's stock after selling 4,051 shares during the quarter. Penserra Capital Management LLC's holdings in Royal Caribbean Cruises were worth $1,913,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of RCL. 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 valued at $27,000 after buying an additional 99 shares during the period. Fourth Dimension Wealth LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter worth about $35,000. Truvestments Capital LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter worth about $36,000. Capital A Wealth Management LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter worth about $40,000. Finally, Spurstone Advisory Services LLC acquired a new stake in Royal Caribbean Cruises in the 4th quarter valued at about $46,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.
Royal Caribbean Cruises Stock Up 0.9%
NYSE RCL traded up $2.81 during trading on Wednesday, reaching $333.01. 365,970 shares of the company's stock were exchanged, compared to its average volume of 2,355,237. 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 Ltd. has a fifty-two week low of $130.08 and a fifty-two week high of $336.63. The company's fifty day simple moving average is $265.60 and its 200-day simple moving average is $240.27. The firm has a market capitalization of $90.43 billion, a PE ratio of 27.58, a P/E/G ratio of 0.98 and a beta of 2.17.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 EPS 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 business had revenue of $4 billion during the quarter, compared to analysts' expectations of $4.02 billion. During the same period last year, the company posted $1.77 earnings per share. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. Sell-side 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 declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.90%. Royal Caribbean Cruises's dividend payout ratio is currently 24.92%.
Insider Buying and Selling at Royal Caribbean Cruises
In related news, Director Richard D. Fain sold 19,600 shares of the 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.95% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on RCL shares. Truist Financial lifted their price objective 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. Sanford C. Bernstein raised their target price 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. UBS Group set a $311.00 price target on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Melius Research upgraded Royal Caribbean Cruises to a "strong-buy" rating in a research report on Monday, April 21st. Finally, BNP Paribas started coverage on Royal Caribbean Cruises in a research note on Thursday, March 27th. They set an "outperform" rating and a $262.00 price objective for the company. Four 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. According to MarketBeat, Royal Caribbean Cruises presently has an average rating of "Moderate Buy" and an average target price of $289.15.
View Our Latest Stock Report on Royal Caribbean Cruises
About Royal Caribbean Cruises
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Free Report)
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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