Public Employees Retirement System of Ohio Sells 6,492 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Public Employees Retirement System of Ohio cut its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,077 shares of the company's stock after selling 6,492 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Royal Caribbean Cruises were worth $17,927,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. boosted its stake in Royal Caribbean Cruises by 20.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 8,215 shares of the company's stock valued at $1,310,000 after acquiring an additional 1,381 shares during the last quarter. SteelPeak Wealth LLC lifted its holdings in Royal Caribbean Cruises by 3.0% during the 2nd quarter. SteelPeak Wealth LLC now owns 5,193 shares of the company's stock worth $828,000 after purchasing an additional 150 shares in the last quarter. AlphaMark Advisors LLC grew its holdings in Royal Caribbean Cruises by 233.3% during the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company's stock valued at $32,000 after buying an additional 140 shares in the last quarter. Swedbank AB bought a new stake in Royal Caribbean Cruises during the 2nd quarter worth approximately $402,000. Finally, Assenagon Asset Management S.A. lifted its stake in Royal Caribbean Cruises by 17.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 5,201 shares of the company's stock worth $829,000 after purchasing an additional 789 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Trading Down 0.1 %

Shares of NYSE RCL traded down $0.14 during midday trading on Wednesday, reaching $245.52. The company had a trading volume of 1,976,118 shares, compared to its average volume of 2,330,434. The stock has a market cap of $66.01 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 0.68 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a one year low of $113.10 and a one year high of $258.70. The firm's fifty day moving average price is $218.22 and its 200-day moving average price is $180.34. 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 (NYSE:RCL - Get Free Report) last released its quarterly earnings data 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 firm 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 company'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 company earned $3.85 earnings per share. On average, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Friday, December 27th will be issued a $0.55 dividend. 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%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial boosted their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. Barclays boosted their target price on Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They issued an "outperform" rating and a $290.00 price target on the stock. StockNews.com raised Royal Caribbean Cruises from a "sell" rating to a "hold" rating in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group raised 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 note on Tuesday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and a consensus price target of $237.13.

Insider Transactions at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises 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 sale, the executive vice president now owns 22,348 shares of the company's stock, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their position. The sale 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 business's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the transaction, the director now owns 18,556,860 shares in the company, valued at $4,335,253,633.20. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 404,332 shares of company stock worth $94,299,521. 7.95% of the stock is currently owned by insiders.

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.