Forest Avenue Capital Management LP Takes $35.04 Million Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Forest Avenue Capital Management LP acquired a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 219,771 shares of the company’s stock, valued at approximately $35,038,000. Royal Caribbean Cruises accounts for approximately 4.9% of Forest Avenue Capital Management LP’s investment portfolio, making the stock its 10th largest position. Forest Avenue Capital Management LP owned 0.09% of Royal Caribbean Cruises as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Capital International Investors increased its position in Royal Caribbean Cruises by 1.0% in the 1st quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock worth $4,114,203,000 after buying an additional 286,868 shares during the period. Vanguard Group Inc. raised its stake in Royal Caribbean Cruises by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 25,409,272 shares of the company’s stock valued at $3,532,143,000 after purchasing an additional 132,079 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Royal Caribbean Cruises by 24.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock valued at $326,616,000 after purchasing an additional 400,565 shares during the period. Eagle Asset Management Inc. bought a new stake in Royal Caribbean Cruises in the 4th quarter valued at $79,392,000. Finally, Capital International Inc. CA grew its position in Royal Caribbean Cruises by 3.3% in the 1st quarter. Capital International Inc. CA now owns 601,917 shares of the company’s stock worth $83,672,000 after purchasing an additional 19,065 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CFO Naftali Holtz acquired 5,350 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $140.00 per share, with a total value of $749,000.00. Following the purchase, the chief financial officer now owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Naftali Holtz purchased 5,350 shares of Royal Caribbean Cruises stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $140.00 per share, with a total value of $749,000.00. Following the transaction, the chief financial officer now owns 48,256 shares in the company, valued at $6,755,840. The disclosure for this purchase can be found here. Corporate insiders own 7.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on RCL shares. Bank of America upped their price objective on shares of Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Morgan Stanley lifted their price objective on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Truist Financial upped their target price on Royal Caribbean Cruises from $151.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. JPMorgan Chase & Co. lifted their price target on shares of Royal Caribbean Cruises from $210.00 to $213.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, UBS Group boosted their price target on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $182.31.

Royal Caribbean Cruises Stock Performance

RCL stock opened at $173.99 on Friday. The stock has a market capitalization of $44.78 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 0.49 and a beta of 2.61. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. The company has a 50 day moving average price of $160.46 and a 200 day moving average price of $149.22. Royal Caribbean Cruises Ltd. has a fifty-two week low of $78.35 and a fifty-two week high of $174.48.

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

Royal Caribbean Cruises Dividend Announcement

The business also recently declared a — dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a $0.40 dividend. The ex-dividend date is Friday, September 20th.

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.