Nordea Investment Management AB Cuts Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Nordea Investment Management AB trimmed its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 12.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,165 shares of the company's stock after selling 23,824 shares during the quarter. Nordea Investment Management AB owned approximately 0.06% of Royal Caribbean Cruises worth $37,670,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Private Advisor Group LLC raised its position in shares of Royal Caribbean Cruises by 9.8% in the second quarter. Private Advisor Group LLC now owns 9,370 shares of the company's stock worth $1,494,000 after acquiring an additional 834 shares during the period. Cullen Frost Bankers Inc. boosted its position in Royal Caribbean Cruises by 983.8% during the second quarter. Cullen Frost Bankers Inc. now owns 401 shares of the company's stock worth $64,000 after purchasing an additional 364 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Royal Caribbean Cruises by 245.6% in the second quarter. Acadian Asset Management LLC now owns 11,590 shares of the company's stock valued at $1,846,000 after purchasing an additional 8,236 shares during the period. Caprock Group LLC increased its position in shares of Royal Caribbean Cruises by 40.5% in the second quarter. Caprock Group LLC now owns 2,282 shares of the company's stock valued at $364,000 after buying an additional 658 shares in the last quarter. Finally, Ballentine Partners LLC raised its stake in shares of Royal Caribbean Cruises by 4.7% during the 2nd quarter. Ballentine Partners LLC now owns 4,505 shares of the company's stock worth $718,000 after buying an additional 201 shares during the period. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Trading Up 0.7 %

Shares of RCL traded up $1.67 during mid-day trading on Wednesday, reaching $227.00. The stock had a trading volume of 2,140,699 shares, compared to its average volume of 1,927,659. Royal Caribbean Cruises Ltd. has a 52-week low of $113.10 and a 52-week high of $258.70. The firm has a market cap of $61.03 billion, a price-to-earnings ratio of 23.33, a P/E/G ratio of 0.65 and a beta of 2.59. The business's fifty day moving average is $234.91 and its 200 day moving average is $192.39. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) 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. The business had revenue of $4.89 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.85 EPS. On average, sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Friday, December 27th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Friday, December 27th. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 22.61%.

Wall Street Analyst Weigh In

RCL has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lifted their target price on shares of Royal Caribbean Cruises from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Sanford C. Bernstein initiated coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an "outperform" rating and a $290.00 price target for the company. Barclays raised their price target on shares of Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Finally, Tigress Financial boosted their price objective on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and an average price target of $243.25.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the company's stock in a transaction that occurred 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 directly owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. This represents a 0.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard D. Fain sold 25,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the completion of the sale, the director now owns 204,521 shares of the company's stock, valued at $42,953,500.42. This trade represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 404,332 shares of company stock worth $94,299,521. 7.95% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Company 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.