Brookstone Capital Management reduced its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 36.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,506 shares of the company's stock after selling 2,548 shares during the quarter. Brookstone Capital Management's holdings in Royal Caribbean Cruises were worth $1,039,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in RCL. D1 Capital Partners L.P. raised its stake in shares of Royal Caribbean Cruises by 105.7% in the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company's stock worth $241,075,000 after purchasing an additional 777,103 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Royal Caribbean Cruises by 10,599.0% during the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company's stock worth $72,696,000 after buying an additional 406,048 shares in the last quarter. Forest Avenue Capital Management LP purchased a new stake in Royal Caribbean Cruises in the 2nd quarter valued at $35,038,000. Teachers Retirement System of The State of Kentucky boosted its holdings in Royal Caribbean Cruises by 809.6% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company's stock worth $27,601,000 after acquiring an additional 154,090 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Royal Caribbean Cruises by 138.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company's stock valued at $28,703,000 after purchasing an additional 93,899 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company's stock.
Royal Caribbean Cruises Stock Performance
Shares of NYSE RCL traded up $8.51 during midday trading on Friday, hitting $241.79. The company's stock had a trading volume of 2,933,698 shares, compared to its average volume of 2,040,097. The firm has a market capitalization of $65.01 billion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 0.48 and a beta of 2.59. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The stock has a fifty day moving average price of $237.01 and a 200 day moving average price of $195.08. Royal Caribbean Cruises Ltd. has a one year low of $113.10 and a one year high of $258.70.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.05 by $0.15. The business had revenue of $4.89 billion for the quarter, compared to analysts' expectations of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The business's revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.85 EPS. On average, research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.
Royal Caribbean Cruises Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.20 annualized dividend and a yield of 0.91%. Royal Caribbean Cruises's dividend payout ratio is currently 22.61%.
Analyst Upgrades and Downgrades
RCL has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an "overweight" rating in a report on Friday. Truist Financial boosted their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. Morgan Stanley increased their price target on Royal Caribbean Cruises from $190.00 to $210.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 8th. Tigress Financial lifted their price target on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus upped their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $246.50.
Read Our Latest Research Report on RCL
Insider Buying and Selling at Royal Caribbean Cruises
In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $237.89, for a total value of $33,150,685.17. Following the transaction, the director now owns 18,167,507 shares of the company's stock, valued at approximately $4,321,868,240.23. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the sale, the executive vice president now directly owns 22,348 shares of the company's stock, valued at $5,243,287.76. This represents a 12.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 404,332 shares of company stock valued at $94,299,521 in the last quarter. 7.95% of the stock is currently owned by corporate insiders.
About Royal Caribbean Cruises
(
Free Report)
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.
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