Victory Capital Management Inc. Cuts Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Victory Capital Management Inc. trimmed its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,196 shares of the company's stock after selling 3,488 shares during the period. Victory Capital Management Inc.'s holdings in Royal Caribbean Cruises were worth $16,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Larson Financial Group LLC grew its holdings in Royal Caribbean Cruises by 15.8% during the 1st quarter. Larson Financial Group LLC now owns 2,694 shares of the company's stock worth $553,000 after acquiring an additional 367 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in Royal Caribbean Cruises by 18.9% during the 1st quarter. Wealthfront Advisers LLC now owns 35,911 shares of the company's stock worth $7,378,000 after acquiring an additional 5,697 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in Royal Caribbean Cruises by 22.9% during the 1st quarter. Apollon Wealth Management LLC now owns 5,578 shares of the company's stock worth $1,146,000 after acquiring an additional 1,038 shares in the last quarter. Signaturefd LLC grew its holdings in Royal Caribbean Cruises by 3.8% during the 1st quarter. Signaturefd LLC now owns 5,429 shares of the company's stock worth $1,115,000 after acquiring an additional 197 shares in the last quarter. Finally, Florida Financial Advisors LLC grew its holdings in Royal Caribbean Cruises by 87.6% during the 1st quarter. Florida Financial Advisors LLC now owns 1,957 shares of the company's stock worth $402,000 after acquiring an additional 914 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Stock Performance

NYSE RCL traded up $3.17 on Friday, hitting $352.53. 1,652,227 shares of the company's stock traded hands, compared to its average volume of 2,516,955. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21. Royal Caribbean Cruises Ltd. has a 1-year low of $130.08 and a 1-year high of $355.91. The firm's 50-day moving average price is $294.04 and its two-hundred day moving average price is $250.43. The firm has a market capitalization of $95.73 billion, a PE ratio of 29.28, a P/E/G ratio of 0.99 and a beta of 2.17.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The business had revenue of $4 billion during the quarter, compared to analysts' expectations of $4.02 billion. During the same period in the previous year, the business posted $1.77 EPS. The business's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, 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. Investors of record on Wednesday, June 4th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 0.85%. Royal Caribbean Cruises's dividend payout ratio is currently 24.92%.

Insider Activity

In related news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of the transaction, the director directly owned 165,421 shares in the company, valued at $41,868,055.10. The trade was a 10.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.95% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a report on Monday, April 21st. TD Cowen initiated coverage on shares of Royal Caribbean Cruises in a report on Tuesday. They issued a "buy" rating and a $405.00 price target on the stock. The Goldman Sachs Group lowered their price target on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group raised their price target on shares of Royal Caribbean Cruises from $235.00 to $315.00 and gave the company a "hold" rating in a report on Monday, July 7th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $311.05.

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.