Strategic Investment Advisors MI Grows Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Strategic Investment Advisors MI grew its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 50.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,935 shares of the company's stock after acquiring an additional 1,647 shares during the quarter. Strategic Investment Advisors MI's holdings in Royal Caribbean Cruises were worth $1,014,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RCL. Moran Wealth Management LLC bought a new stake in shares of Royal Caribbean Cruises during the first quarter worth about $202,000. Legacy Advisors LLC grew its holdings in shares of Royal Caribbean Cruises by 5.4% during the first quarter. Legacy Advisors LLC now owns 1,027 shares of the company's stock worth $212,000 after purchasing an additional 53 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Royal Caribbean Cruises by 12.3% during the first quarter. Asset Management One Co. Ltd. now owns 168,081 shares of the company's stock worth $34,531,000 after purchasing an additional 18,352 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Royal Caribbean Cruises by 152.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 9,241 shares of the company's stock worth $1,898,000 after purchasing an additional 5,575 shares during the last quarter. Finally, CV Advisors LLC bought a new stake in shares of Royal Caribbean Cruises during the first quarter worth about $1,027,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RCL shares. The Goldman Sachs Group reduced their price target on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Loop Capital reiterated a "buy" rating and issued a $290.00 target price (up from $250.00) on shares of Royal Caribbean Cruises in a report on Tuesday, June 3rd. BNP Paribas assumed coverage on Royal Caribbean Cruises in a report on Thursday, March 27th. They issued an "outperform" rating and a $262.00 target price on the stock. Truist Financial upped their target price on Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, Morgan Stanley upped their target price on Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Four investment 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $276.90.

Insider Transactions 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 value of $4,960,760.00. Following the completion of the sale, the director now directly owns 165,421 shares of the company's stock, valued at approximately $41,868,055.10. This represents a 10.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.95% of the stock is owned by insiders.

Royal Caribbean Cruises Stock Up 5.0%

Shares of NYSE:RCL traded up $14.80 during trading on Friday, reaching $310.69. 12,059,439 shares of the stock were exchanged, compared to its average volume of 2,342,163. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.18 and a quick ratio of 0.15. Royal Caribbean Cruises Ltd. has a 1-year low of $130.08 and a 1-year high of $310.69. The stock has a fifty day moving average of $249.05 and a two-hundred day moving average of $236.11. The firm has a market cap of $84.37 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 0.88 and a beta of 2.14.

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 return on equity of 47.89% and a net margin of 19.38%. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the firm earned $1.77 earnings per share. Royal Caribbean Cruises's revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.97%. Royal Caribbean Cruises's payout ratio is 24.92%.

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.