Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in Royal Caribbean Cruises by 15.3%, now owning over 120,000 shares valued at approximately $24.7 million.
• Royal Caribbean stock fell by 4.8% during trading, reaching $334.98, amidst changes in institutional investor positions and a recent earnings report showing a higher than expected EPS.
• The company announced a quarterly dividend of $0.75, reflecting an annualized yield of 0.90% and a payout ratio of 24.92%.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 15.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,403 shares of the company's stock after purchasing an additional 15,997 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Royal Caribbean Cruises were worth $24,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of RCL. TD Asset Management Inc increased its position in Royal Caribbean Cruises by 4.5% during the first quarter. TD Asset Management Inc now owns 95,561 shares of the company's stock valued at $19,632,000 after acquiring an additional 4,120 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Royal Caribbean Cruises by 12.0% during the first quarter. HB Wealth Management LLC now owns 8,455 shares of the company's stock worth $1,737,000 after purchasing an additional 903 shares in the last quarter. Mediolanum International Funds Ltd grew its position in shares of Royal Caribbean Cruises by 432.8% during the first quarter. Mediolanum International Funds Ltd now owns 7,220 shares of the company's stock worth $1,499,000 after purchasing an additional 5,865 shares in the last quarter. Longbow Finance SA purchased a new stake in shares of Royal Caribbean Cruises during the first quarter worth about $3,589,000. Finally, Freemont Management S.A. bought a new position in Royal Caribbean Cruises during the first quarter valued at approximately $1,376,000. 87.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Richard D. Fain sold 19,600 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $41,868,055.10. This represents a 10.59% decrease in their position. The transaction 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.

Wall Street Analysts Forecast Growth

RCL has been the subject of a number of research reports. Susquehanna reissued a "positive" rating and set a $385.00 price target (up from $275.00) on shares of Royal Caribbean Cruises in a research note on Wednesday. Loop Capital reissued a "buy" rating and set a $290.00 price target (up from $250.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, June 3rd. Truist Financial set a $337.00 price objective on Royal Caribbean Cruises in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on Royal Caribbean Cruises from $302.00 to $367.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Wall Street Zen cut Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $321.10.

Royal Caribbean Cruises Stock Performance

Royal Caribbean Cruises stock traded down $5.42 during trading hours on Friday, hitting $312.45. 1,580,443 shares of the stock traded hands, compared to its average volume of 2,574,689. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.23 and a quick ratio of 0.15. The firm's 50 day moving average price is $301.16 and its 200-day moving average price is $253.21. The stock has a market capitalization of $84.85 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 0.93 and a beta of 2.17. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $355.91.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.34. The business had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.54 billion. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%. The company's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.21 EPS. As a group, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.0%. Royal Caribbean Cruises's payout ratio is 22.49%.

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.