Trek Financial LLC purchased a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 1,769 shares of the company's stock, valued at approximately $363,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brown Brothers Harriman & Co. grew its stake in Royal Caribbean Cruises by 618.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after buying an additional 99 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in Royal Caribbean Cruises during the 4th quarter worth $35,000. Truvestments Capital LLC purchased a new position in Royal Caribbean Cruises during the 4th quarter worth $36,000. Capital A Wealth Management LLC purchased a new position in Royal Caribbean Cruises during the 4th quarter worth $40,000. Finally, Spurstone Advisory Services LLC purchased a new position in Royal Caribbean Cruises during the 4th quarter worth $46,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Royal Caribbean Cruises
In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.95% of the stock is owned by insiders.
Analyst Ratings Changes
RCL has been the topic of several research analyst reports. BNP Paribas initiated coverage on Royal Caribbean Cruises in a research note on Thursday, March 27th. They set an "outperform" rating and a $262.00 target price on the stock. The Goldman Sachs Group dropped their price target on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Susquehanna dropped their price target on Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating on the stock in a research note on Wednesday, April 30th. Sanford C. Bernstein boosted their price target on Royal Caribbean Cruises from $290.00 to $360.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Truist Financial boosted their price target on Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $293.90.
Read Our Latest Report on RCL
Royal Caribbean Cruises Price Performance
Shares of Royal Caribbean Cruises stock traded down $2.83 on Friday, reaching $338.53. The company's stock had a trading volume of 2,285,700 shares, compared to its average volume of 2,360,656. The company has a market capitalization of $91.93 billion, a P/E ratio of 28.12, a PEG ratio of 1.01 and a beta of 2.17. Royal Caribbean Cruises Ltd. has a 52-week low of $130.08 and a 52-week high of $342.56. The stock has a 50-day moving average price of $272.55 and a 200-day moving average price of $242.30. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 2.21.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.18. The business had revenue of $4 billion during the quarter, compared to analysts' expectations of $4.02 billion. Royal Caribbean Cruises had a return on equity of 47.89% and a net margin of 19.38%. The business's revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.77 earnings per share. Analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.
Royal Caribbean Cruises Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.89%. Royal Caribbean Cruises's payout ratio is currently 24.92%.
About Royal Caribbean Cruises
(
Free Report)
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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