Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC grew its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 20.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,630 shares of the company’s stock after acquiring an additional 1,111 shares during the period. Park Avenue Securities LLC’s holdings in Royal Caribbean Cruises were worth $1,530,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sanctuary Advisors LLC raised its position in shares of Royal Caribbean Cruises by 76.1% in the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock worth $5,142,000 after acquiring an additional 12,530 shares during the period. Wedge Capital Management L L P NC raised its position in shares of Royal Caribbean Cruises by 2.6% in the third quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock worth $51,349,000 after acquiring an additional 7,298 shares during the period. Souders Financial Advisors acquired a new position in shares of Royal Caribbean Cruises in the third quarter worth about $800,000. Swiss National Bank raised its position in shares of Royal Caribbean Cruises by 0.5% in the third quarter. Swiss National Bank now owns 725,638 shares of the company’s stock worth $128,699,000 after acquiring an additional 3,800 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Royal Caribbean Cruises during the 2nd quarter worth about $611,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RCL shares. Bank of America upped their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Truist Financial upped their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Barclays upped their price target on shares of Royal Caribbean Cruises from $245.00 to $287.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Citigroup upped their price target on shares of Royal Caribbean Cruises from $257.00 to $283.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Macquarie upped their price objective on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $246.50.

Insider Buying and Selling

In related news, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the transaction, the executive vice president now owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. This trade represents a 12.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the transaction, the director now directly owns 18,556,860 shares of the company’s stock, valued at $4,335,253,633.20. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 404,332 shares of company stock valued at $94,299,521. Company insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Stock Performance

Royal Caribbean Cruises stock opened at $241.79 on Friday. The firm has a 50 day simple moving average of $237.34 and a 200-day simple moving average of $195.67. Royal Caribbean Cruises Ltd. has a 1-year low of $113.10 and a 1-year high of $258.70. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The stock has a market cap of $65.01 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 0.48 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the company posted $3.85 EPS. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were given a dividend of $0.55 per share. The ex-dividend date was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. Royal Caribbean Cruises’s payout ratio is currently 22.61%.

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.