Wealthfront Advisers LLC Purchases 5,697 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Wealthfront Advisers LLC raised its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 18.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,911 shares of the company's stock after purchasing an additional 5,697 shares during the period. Wealthfront Advisers LLC's holdings in Royal Caribbean Cruises were worth $7,378,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Royal Caribbean Cruises by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock valued at $1,373,856,000 after acquiring an additional 353,893 shares in the last quarter. Revisor Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at approximately $1,525,000. Dorsey Wright & Associates bought a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at approximately $4,221,000. Groupama Asset Managment bought a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at approximately $1,122,000. Finally, Brown Miller Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at approximately $266,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Price Performance

RCL stock traded up $1.94 during trading on Friday, hitting $350.45. The company had a trading volume of 1,464,544 shares, compared to its average volume of 2,587,613. The company has a fifty day moving average price of $281.66 and a two-hundred day moving average price of $245.25. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21. The company has a market cap of $95.17 billion, a P/E ratio of 29.11, a P/E/G ratio of 1.01 and a beta of 2.17. Royal Caribbean Cruises Ltd. has a fifty-two week low of $130.08 and a fifty-two week high of $352.68.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the company posted $1.77 EPS. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

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

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises 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 transaction, the director owned 165,421 shares in the company, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.95% of the company's stock.

Analyst Ratings Changes

RCL has been the topic of a number of research analyst reports. UBS Group set a $311.00 target price on Royal Caribbean Cruises and gave the company a "buy" rating in a report on Tuesday, May 20th. The Goldman Sachs Group lowered their target price 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. Truist Financial raised 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. Barclays raised their target price on Royal Caribbean Cruises from $263.00 to $358.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Finally, Stifel Nicolaus raised their target price on Royal Caribbean Cruises from $310.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Four 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's stock. Based on data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of "Moderate Buy" and an average price target of $297.50.

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.