Sumitomo Mitsui DS Asset Management Company Ltd Decreases Stock Holdings in Royal Caribbean Cruises Ltd. $RCL

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd has decreased its holdings in Royal Caribbean Cruises by 2.5%, reducing its shares to 35,035, valued at approximately $10.97 million.
• Royal Caribbean Cruises recently announced a quarterly dividend increase from $0.75 to $1.00 per share, with a 1.2% yield.
• Analysts have mixed sentiments on Royal Caribbean's stock, with Barclays raising its target price to $358.00 while Wall Street Zen downgraded it from "buy" to "hold."

Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,035 shares of the company's stock after selling 916 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Royal Caribbean Cruises were worth $10,971,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Gravity Asset Management Inc. purchased a new position in shares of Royal Caribbean Cruises during the 1st quarter worth $25,000. Hughes Financial Services LLC purchased a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at about $26,000. Fourth Dimension Wealth LLC purchased a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at about $35,000. Optimum Investment Advisors purchased a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at about $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $40,000. 87.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Vagn O. Sorensen sold 10,300 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $330.04, for a total value of $3,399,412.00. Following the transaction, the director directly owned 16,407 shares in the company, valued at approximately $5,414,966.28. The trade was a 38.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Henry L. Pujol sold 5,207 shares of Royal Caribbean Cruises stock in a transaction dated 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 completion of the transaction, the chief accounting officer owned 7,826 shares in the company, valued at $2,578,432.22. The trade was a 39.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,507 shares of company stock worth $10,091,282. Company insiders own 6.95% of the company's stock.

Royal Caribbean Cruises Stock Performance

RCL opened at $325.86 on Friday. The firm has a market cap of $88.51 billion, a PE ratio of 24.43, a P/E/G ratio of 0.91 and a beta of 2.12. The business has a fifty day simple moving average of $336.38 and a 200-day simple moving average of $273.21. The company has a quick ratio of 0.21, a current ratio of 0.23 and a debt-to-equity ratio of 1.88. Royal Caribbean Cruises Ltd. has a fifty-two week low of $164.01 and a fifty-two week high of $366.50.

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, beating analysts' consensus estimates of $4.04 by $0.34. The firm had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.54 billion. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%.The business's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.21 earnings per share. 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, equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 13th. Shareholders of record on Thursday, September 25th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.2%. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.75. The ex-dividend date is Thursday, September 25th. Royal Caribbean Cruises's dividend payout ratio is 22.49%.

Wall Street Analyst Weigh In

Several research analysts have commented on RCL shares. Barclays lifted their price target on Royal Caribbean Cruises from $263.00 to $358.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. 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 research note on Tuesday, June 3rd. William Blair reiterated an "outperform" rating on shares of Royal Caribbean Cruises in a research note on Wednesday, July 23rd. Stifel Nicolaus upped their price target on Royal Caribbean Cruises from $400.00 to $420.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen lowered Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $327.14.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.