Geode Capital Management LLC Grows Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Geode Capital Management LLC lifted its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 0.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,615,639 shares of the company's stock after purchasing an additional 7,820 shares during the quarter. Geode Capital Management LLC owned 2.09% of Royal Caribbean Cruises worth $993,611,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RCL. Plato Investment Management Ltd bought a new position in Royal Caribbean Cruises in the 3rd quarter valued at $26,000. Unique Wealth Strategies LLC acquired a new stake in shares of Royal Caribbean Cruises during the second quarter worth about $27,000. Safe Harbor Fiduciary LLC bought a new position in Royal Caribbean Cruises in the third quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. increased its holdings in Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company's stock worth $30,000 after purchasing an additional 121 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Royal Caribbean Cruises in the 3rd quarter valued at approximately $31,000. 87.53% of the stock is owned by institutional investors.

Royal Caribbean Cruises Trading Down 0.6 %

Royal Caribbean Cruises stock traded down $1.36 during trading hours on Thursday, hitting $244.16. The stock had a trading volume of 1,725,684 shares, compared to its average volume of 2,327,918. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises Ltd. has a one year low of $113.10 and a one year high of $258.70. The business's 50 day simple moving average is $219.63 and its 200-day simple moving average is $180.79. The stock has a market cap of $65.65 billion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 0.68 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.05 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company's revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.85 EPS. On average, equities analysts predict that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Friday, December 27th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. Royal Caribbean Cruises's dividend payout ratio is currently 16.44%.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction dated 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 in the company, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Henry L. Pujol sold 6,723 shares of the business's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total value of $1,401,812.73. Following the sale, the chief accounting officer now owns 9,964 shares in the company, valued at approximately $2,077,593.64. The trade was a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 404,332 shares of company stock valued at $94,299,521. Insiders own 7.95% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Bank of America lifted their target price on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. The Goldman Sachs Group boosted their target price on Royal Caribbean Cruises from $245.00 to $275.00 and gave the stock a "buy" rating in a report on Tuesday. StockNews.com raised shares of Royal Caribbean Cruises from a "sell" rating to a "hold" rating in a research report on Tuesday, November 26th. Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, November 26th. They issued an "outperform" rating and a $290.00 price objective on the stock. Finally, Macquarie lifted their target price on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Royal Caribbean Cruises presently has an average rating of "Moderate Buy" and a consensus price target of $237.13.

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.