Tabor Asset Management LP Purchases New Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Tabor Asset Management LP acquired a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,187 shares of the company's stock, valued at approximately $2,093,000.

Several other large investors also recently bought and sold shares of RCL. Norges Bank acquired a new stake in Royal Caribbean Cruises in the fourth quarter valued at approximately $707,833,000. Vanguard Group Inc. grew its position in Royal Caribbean Cruises by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company's stock valued at $6,476,003,000 after acquiring an additional 2,068,114 shares in the last quarter. GAMMA Investing LLC grew its position in Royal Caribbean Cruises by 22,154.9% in the first quarter. GAMMA Investing LLC now owns 1,410,962 shares of the company's stock valued at $289,868,000 after acquiring an additional 1,404,622 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Royal Caribbean Cruises by 3,544.4% during the fourth quarter. Janus Henderson Group PLC now owns 963,034 shares of the company's stock worth $222,166,000 after buying an additional 936,609 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Royal Caribbean Cruises by 21.8% during the first quarter. Bank of New York Mellon Corp now owns 2,991,079 shares of the company's stock worth $614,487,000 after buying an additional 535,043 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial reissued a "hold" rating and set a $337.00 price target (up previously from $275.00) on shares of Royal Caribbean Cruises in a research report on Monday. BNP Paribas began coverage on Royal Caribbean Cruises in a research note on Thursday, March 27th. They set an "outperform" rating and a $262.00 price objective on the stock. Wall Street Zen cut Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Northcoast Research started coverage on Royal Caribbean Cruises in a research note on Friday, April 25th. They issued a "buy" rating and a $279.00 target price on the stock. Finally, Morgan Stanley lifted their price objective on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $300.60.

Insider Buying and Selling

In related news, Director Richard D. Fain sold 19,600 shares of the 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 owned 165,421 shares of the company's stock, valued at $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.95% of the stock is owned by insiders.

Royal Caribbean Cruises Trading Down 0.1%

NYSE:RCL traded down $0.37 during mid-day trading on Monday, reaching $349.73. 165,836 shares of the company's stock traded hands, compared to its average volume of 2,350,962. Royal Caribbean Cruises Ltd. has a 12-month low of $130.08 and a 12-month high of $354.00. The firm has a market capitalization of $94.97 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 1.04 and a beta of 2.17. The company has a 50 day moving average price of $284.00 and a 200-day moving average price of $246.31. 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 (NYSE:RCL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the company posted $1.77 earnings per share. Royal Caribbean Cruises's revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.86%. Royal Caribbean Cruises's dividend payout ratio is currently 24.92%.

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.