Xponance Inc. Purchases 1,298 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Xponance Inc. grew its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,664 shares of the company's stock after acquiring an additional 1,298 shares during the quarter. Xponance Inc.'s holdings in Royal Caribbean Cruises were worth $8,765,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. bought a new stake in shares of Royal Caribbean Cruises during the first quarter valued at approximately $25,000. Brown Brothers Harriman & Co. increased its holdings in shares of Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after acquiring an additional 99 shares in the last quarter. Optimum Investment Advisors bought a new stake in shares of Royal Caribbean Cruises during the first quarter valued at approximately $31,000. Fourth Dimension Wealth LLC bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $35,000. Finally, Truvestments Capital LLC bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $36,000. Institutional investors own 87.53% of the company's stock.

Royal Caribbean Cruises Trading Down 0.8%

Shares of Royal Caribbean Cruises stock opened at $338.53 on Friday. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $342.56. The firm has a market cap of $91.93 billion, a PE ratio of 28.12, a P/E/G ratio of 1.01 and a beta of 2.17. The stock has a fifty day moving average price of $272.55 and a 200-day moving average price of $242.30. 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 posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.18. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. Royal Caribbean Cruises had a return on equity of 47.89% and a net margin of 19.38%. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.77 EPS. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.89%. Royal Caribbean Cruises's payout ratio is 24.92%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RCL shares. Sanford C. Bernstein boosted their price objective on Royal Caribbean Cruises from $290.00 to $360.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. The Goldman Sachs Group lowered their price target on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Northcoast Research initiated coverage on Royal Caribbean Cruises in a research report on Friday, April 25th. They issued a "buy" rating and a $279.00 price target for the company. Loop Capital reissued a "buy" rating and issued a $290.00 price target (up from $250.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, June 3rd. Finally, Jefferies Financial Group increased their price target on Royal Caribbean Cruises from $235.00 to $315.00 and gave the company a "hold" rating in a research report on Monday, July 7th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $293.90.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of the stock in a transaction 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 in the company, valued at approximately $41,868,055.10. This represents a 10.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.95% of the company's stock.

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.

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.