Oppenheimer & Co. Inc. Grows Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Oppenheimer & Co. Inc. increased its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 19.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,633 shares of the company’s stock after buying an additional 3,023 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Royal Caribbean Cruises were worth $2,971,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in RCL. Scarborough Advisors LLC purchased a new position in Royal Caribbean Cruises during the fourth quarter worth about $26,000. Unique Wealth Strategies LLC acquired a new stake in Royal Caribbean Cruises during the second quarter worth about $27,000. Creekmur Asset Management LLC acquired a new stake in Royal Caribbean Cruises during the fourth quarter worth about $30,000. Versant Capital Management Inc increased its stake in Royal Caribbean Cruises by 905.3% during the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after acquiring an additional 172 shares during the last quarter. Finally, AlphaMark Advisors LLC increased its stake in Royal Caribbean Cruises by 233.3% during the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock worth $32,000 after acquiring an additional 140 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Mizuho upped their price target on Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Argus upped their price target on Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Truist Financial upped their price target on Royal Caribbean Cruises from $151.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. The Goldman Sachs Group upped their price target on Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley increased their target price on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $182.13.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the transaction, the insider now owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the sale, the director now owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the sale, the insider now directly owns 27,388 shares in the company, valued at approximately $4,620,629.48. The disclosure for this sale can be found here. 7.95% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL opened at $167.96 on Monday. Royal Caribbean Cruises Ltd. has a fifty-two week low of $78.35 and a fifty-two week high of $173.37. The business has a 50 day moving average price of $159.74 and a two-hundred day moving average price of $147.94. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20. The firm has a market cap of $43.22 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 0.46 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, July 25th. The company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter last year, the business posted $1.82 EPS. Royal Caribbean Cruises’s quarterly revenue was up 16.4% compared to the same quarter last year. Sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The company also recently announced a — dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio is presently 20.62%.

About Royal Caribbean Cruises

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.