Royal Caribbean Cruises Ltd. $RCL Stock Position Raised by Shellback Capital LP

Key Points

• Shellback Capital LP increased its holdings in Royal Caribbean Cruises Ltd. by 53.8%, acquiring an additional 70,000 shares, making it the company's 2nd largest position.
• Several institutional investors have newly invested in RCL, contributing to their overall ownership which stands at 87.53% of the company’s stock.
• Jefferies Financial Group raised its target price on Royal Caribbean from $235.00 to $315.00, indicating significant analyst interest in the stock with an average target of $327.14.

Shellback Capital LP increased its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 53.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,000 shares of the company's stock after buying an additional 70,000 shares during the period. Royal Caribbean Cruises accounts for 4.0% of Shellback Capital LP's portfolio, making the stock its 2nd largest position. Shellback Capital LP owned approximately 0.07% of Royal Caribbean Cruises worth $41,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Revisor Wealth Management LLC bought a new position in Royal Caribbean Cruises in the first quarter worth about $1,525,000. Brown Miller Wealth Management LLC bought a new position in Royal Caribbean Cruises in the first quarter worth about $266,000. Florida Financial Advisors LLC raised its stake in Royal Caribbean Cruises by 87.6% in the first quarter. Florida Financial Advisors LLC now owns 1,957 shares of the company's stock worth $402,000 after buying an additional 914 shares in the last quarter. Roberts Capital Advisors LLC bought a new position in Royal Caribbean Cruises in the first quarter worth about $572,000. Finally, Vanguard Group Inc. raised its stake in Royal Caribbean Cruises by 2.1% in the first quarter. Vanguard Group Inc. now owns 28,674,763 shares of the company's stock worth $5,890,943,000 after buying an additional 602,447 shares in the last quarter. 87.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Vagn O. Sorensen sold 10,300 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $330.04, for a total value of $3,399,412.00. Following the sale, the director owned 16,407 shares in the company, valued at approximately $5,414,966.28. This trade represents a 38.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard D. Fain sold 16,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $311.02, for a total transaction of $4,976,320.00. Following the completion of the sale, the director owned 150,291 shares in the company, valued at $46,743,506.82. This represents a 9.62% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,507 shares of company stock worth $10,091,282. 6.95% of the stock is owned by insiders.

Royal Caribbean Cruises Stock Up 2.5%

Shares of NYSE:RCL traded up $8.67 during trading on Thursday, reaching $350.17. 1,924,360 shares of the stock traded hands, compared to its average volume of 2,464,018. The stock has a 50-day moving average of $336.68 and a two-hundred day moving average of $269.46. Royal Caribbean Cruises Ltd. has a 52-week low of $162.49 and a 52-week high of $366.50. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.21 and a current ratio of 0.23. The stock has a market cap of $95.12 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 0.97 and a beta of 2.12.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $4.38 EPS for the quarter, beating analysts' consensus estimates of $4.04 by $0.34. Royal Caribbean Cruises had a net margin of 20.97% and a return on equity of 47.15%. The firm had revenue of $4.54 billion for the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter in the prior year, the company posted $3.21 earnings per share. The business's revenue for the quarter was up 10.4% on a year-over-year basis. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. As a group, sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 13th. Stockholders of record on Thursday, September 25th will be issued a dividend of $1.00 per share. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.75. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. Royal Caribbean Cruises's dividend payout ratio is presently 22.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of Royal Caribbean Cruises from $235.00 to $315.00 and gave the stock a "hold" rating in a research note on Monday, July 7th. JPMorgan Chase & Co. upped their price objective on shares of Royal Caribbean Cruises from $302.00 to $367.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. TD Cowen assumed coverage on shares of Royal Caribbean Cruises in a report on Tuesday, July 22nd. They issued a "buy" rating and a $405.00 price objective on the stock. Susquehanna restated a "positive" rating and issued a $385.00 price objective (up previously from $275.00) on shares of Royal Caribbean Cruises in a report on Wednesday, July 30th. Finally, William Blair restated an "outperform" rating on shares of Royal Caribbean Cruises in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $327.14.

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.