Truist Financial Corp Purchases 3,369 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Truist Financial Corp increased its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 19.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,958 shares of the company’s stock after acquiring an additional 3,369 shares during the quarter. Truist Financial Corp’s holdings in Royal Caribbean Cruises were worth $3,341,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Capital International Investors increased its position in Royal Caribbean Cruises by 1.0% during the 1st quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock valued at $4,114,203,000 after buying an additional 286,868 shares in the last quarter. Vanguard Group Inc. increased 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Royal Caribbean Cruises by 24.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after buying an additional 400,565 shares during the period. D1 Capital Partners L.P. grew its holdings in shares of Royal Caribbean Cruises by 105.7% during the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock valued at $241,075,000 after buying an additional 777,103 shares during the last quarter. Finally, Capital International Inc. CA increased its position in shares of Royal Caribbean Cruises by 3.3% in the 1st quarter. Capital International Inc. CA now owns 601,917 shares of the company’s stock valued at $83,672,000 after acquiring an additional 19,065 shares during the period. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CFO Naftali Holtz purchased 5,350 shares of the stock in a transaction dated 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 completion of the purchase, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Laura H. Bethge sold 3,073 shares of the business’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 transaction of $518,445.83. Following the transaction, the insider now directly owns 27,388 shares in the company, valued at $4,620,629.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Naftali Holtz purchased 5,350 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $140.00 per share, with a total value of $749,000.00. Following the acquisition, the chief financial officer now owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 7.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RCL. The Goldman Sachs Group increased their price objective on Royal Caribbean Cruises from $170.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Mizuho upped their price objective on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Susquehanna upped their price target on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a report on Tuesday, July 30th. Tigress Financial lifted their price objective on Royal Caribbean Cruises from $155.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus raised their target price on Royal Caribbean Cruises from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $184.13.

Royal Caribbean Cruises Trading Up 2.0 %

Shares of NYSE:RCL opened at $183.45 on Wednesday. The business’s 50 day moving average price is $163.47 and its 200-day moving average price is $153.22. Royal Caribbean Cruises Ltd. has a 1 year low of $78.35 and a 1 year high of $184.88. The firm has a market capitalization of $47.21 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 0.50 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.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data 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 the consensus estimate of $4.05 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm posted $1.82 earnings per share. On average, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.63 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid 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 (DPR) is currently 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.