Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. cut its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 99.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 460 shares of the company's stock after selling 45,013 shares during the quarter. iA Global Asset Management Inc.'s holdings in Royal Caribbean Cruises were worth $82,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. D1 Capital Partners L.P. boosted its position in shares of Royal Caribbean Cruises by 105.7% in the 2nd 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 in the last quarter. International Assets Investment Management LLC boosted its position in shares of Royal Caribbean Cruises by 10,599.0% in the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company's stock worth $72,696,000 after purchasing an additional 406,048 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of 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 worth $326,616,000 after purchasing an additional 400,565 shares in the last quarter. Forest Avenue Capital Management LP acquired a new stake in shares of Royal Caribbean Cruises in the 2nd quarter worth $35,038,000. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of Royal Caribbean Cruises by 809.6% in 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 purchasing an additional 154,090 shares in the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on RCL shares. The Goldman Sachs Group lifted their price target on Royal Caribbean Cruises from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Tuesday. Wells Fargo & Company lifted their price target on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 29th. Stifel Nicolaus lifted their price target on Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Finally, Citigroup lifted their price target on Royal Caribbean Cruises from $257.00 to $283.00 and gave the stock a "buy" rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $237.13.

Insiders Place Their Bets

In other news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business's 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 in the company, valued at $4,335,253,633.20. The trade was a 1.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Henry L. Pujol sold 6,723 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the transaction, the chief accounting officer now owns 9,964 shares in the company, valued at approximately $2,077,593.64. This represents a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 404,332 shares of company stock worth $94,299,521. Corporate insiders own 7.95% of the company's stock.

Royal Caribbean Cruises Price Performance

Shares of Royal Caribbean Cruises stock traded down $0.14 on Wednesday, hitting $245.52. The company's stock had a trading volume of 1,976,118 shares, compared to its average volume of 2,330,434. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. Royal Caribbean Cruises Ltd. has a 1 year low of $113.10 and a 1 year high of $258.70. The firm has a fifty day moving average price of $218.22 and a 200-day moving average price of $180.34. The company has a market capitalization of $66.01 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 0.68 and a beta of 2.59.

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

Royal Caribbean Cruises Cuts Dividend

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

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.