State of Alaska Department of Revenue Trims Holdings in Royal Caribbean Cruises Ltd. $RCL

Key Points

• The State of Alaska Department of Revenue reduced its stake in Royal Caribbean Cruises Ltd. by 3.4%, now holding 28,015 shares valued at approximately $8.77 million.
• Several institutional investors, including Nuveen LLC and GAMMA Investing LLC, have significantly increased their holdings in Royal Caribbean, contributing to a total of 87.53% ownership by hedge funds and institutions.
• Royal Caribbean Cruises announced a quarterly dividend increase from $0.75 to $1.00, which will be paid on October 13th to shareholders of record as of September 25th.

State of Alaska Department of Revenue trimmed its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 3.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 28,015 shares of the company's stock after selling 975 shares during the period. State of Alaska Department of Revenue's holdings in Royal Caribbean Cruises were worth $8,772,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new stake in Royal Caribbean Cruises during the 1st quarter worth approximately $358,614,000. GAMMA Investing LLC raised its position in Royal Caribbean Cruises by 22,154.9% during the 1st quarter. GAMMA Investing LLC now owns 1,410,962 shares of the company's stock worth $289,868,000 after buying an additional 1,404,622 shares during the last quarter. Vanguard Group Inc. raised its position in Royal Caribbean Cruises by 2.1% during the 1st 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 during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Royal Caribbean Cruises by 21.8% in the first quarter. Bank of New York Mellon Corp now owns 2,991,079 shares of the company's stock valued at $614,487,000 after purchasing an additional 535,043 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Royal Caribbean Cruises by 179.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 645,200 shares of the company's stock valued at $132,550,000 after purchasing an additional 414,100 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 16,000 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $311.02, for a total value of $4,976,320.00. Following the transaction, the director directly owned 150,291 shares of the company's stock, valued at $46,743,506.82. This represents a 9.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Henry L. Pujol sold 5,207 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $329.47, for a total value of $1,715,550.29. Following the sale, the chief accounting officer directly owned 7,826 shares in the company, valued at approximately $2,578,432.22. This trade represents a 39.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,507 shares of company stock worth $10,091,282. Corporate insiders own 6.95% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RCL. JPMorgan Chase & Co. lifted their price target 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. Jefferies Financial Group upped 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 report on Monday, July 7th. UBS Group increased their target price on shares of Royal Caribbean Cruises from $311.00 to $353.00 and gave the company a "buy" rating in a research report on Friday, August 8th. TD Cowen initiated coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, July 22nd. They set a "buy" rating and a $405.00 price objective for the company. Finally, Loop Capital reiterated a "buy" rating and issued a $290.00 target price (up previously from $250.00) on shares of Royal Caribbean Cruises in a report on Tuesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $326.95.

Royal Caribbean Cruises Stock Up 0.6%

RCL opened at $326.50 on Friday. The stock has a market capitalization of $88.69 billion, a price-to-earnings ratio of 24.48, a P/E/G ratio of 0.92 and a beta of 2.12. Royal Caribbean Cruises Ltd. has a 1-year low of $164.01 and a 1-year high of $366.50. The business has a 50 day moving average of $334.54 and a 200-day moving average of $278.30. The company has a current ratio of 0.23, a quick ratio of 0.21 and a debt-to-equity ratio of 1.88.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.34. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%.The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the company posted $3.21 earnings per share. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. 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 anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 13th. Shareholders of record on Thursday, September 25th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, September 25th. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.75. This represents a $4.00 dividend on an annualized basis and a yield of 1.2%. Royal Caribbean Cruises's payout ratio is presently 29.99%.

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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