Public Employees Retirement System of Ohio Has $18.91 Million Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Public Employees Retirement System of Ohio lowered its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 18.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 81,965 shares of the company's stock after selling 19,112 shares during the period. Public Employees Retirement System of Ohio's holdings in Royal Caribbean Cruises were worth $18,909,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dorsey & Whitney Trust CO LLC boosted its stake in Royal Caribbean Cruises by 2.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company's stock valued at $470,000 after purchasing an additional 39 shares during the last quarter. Ostrum Asset Management raised its holdings in Royal Caribbean Cruises by 0.3% in the 4th quarter. Ostrum Asset Management now owns 11,610 shares of the company's stock worth $2,678,000 after purchasing an additional 40 shares during the period. Farther Finance Advisors LLC raised its holdings in Royal Caribbean Cruises by 1.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company's stock valued at $630,000 after acquiring an additional 42 shares during the period. Hemington Wealth Management raised its holdings in Royal Caribbean Cruises by 9.0% during the fourth quarter. Hemington Wealth Management now owns 533 shares of the company's stock valued at $123,000 after acquiring an additional 44 shares during the period. Finally, Verdence Capital Advisors LLC increased its holdings in shares of Royal Caribbean Cruises by 3.6% in the fourth quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company's stock worth $313,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company's stock.

Royal Caribbean Cruises Price Performance

Shares of Royal Caribbean Cruises stock traded up $15.53 during trading on Tuesday, hitting $255.65. 2,726,497 shares of the company's stock traded hands, compared to its average volume of 2,273,753. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The firm's fifty day moving average price is $216.74 and its 200 day moving average price is $231.42. Royal Caribbean Cruises Ltd. has a twelve month low of $130.08 and a twelve month high of $277.08. The company has a market cap of $69.42 billion, a PE ratio of 23.91, a PEG ratio of 0.90 and a beta of 2.12.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) 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 firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the firm posted $1.77 EPS. The firm's quarterly revenue was up 7.3% on a year-over-year basis. Analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Royal Caribbean Cruises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.17%. Royal Caribbean Cruises's dividend payout ratio is presently 24.92%.

Insiders Place Their Bets

In other news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction that occurred 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 completion of the sale, the director now owns 165,421 shares in the company, valued at $41,868,055.10. The trade was a 10.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 7.95% of the company's stock.

Analysts Set New Price Targets

RCL has been the subject of several recent research reports. Melius Research upgraded Royal Caribbean Cruises to a "strong-buy" rating in a research report on Monday, April 21st. Northcoast Research initiated coverage on Royal Caribbean Cruises in a report on Friday, April 25th. They issued a "buy" rating and a $279.00 price target for the company. Truist Financial upped their target price on Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Barclays upped their target price on Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Finally, UBS Group set a $311.00 price target on Royal Caribbean Cruises and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of "Moderate Buy" and a consensus 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.