45,038 Shares of Royal Caribbean Cruises Ltd. $RCL Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. bought a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 45,038 shares of the company’s stock, valued at approximately $11,740,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Bell Investment Advisors Inc bought a new stake in shares of Royal Caribbean Cruises during the second quarter worth $29,000. NBH Bank purchased a new stake in shares of Royal Caribbean Cruises in the 2nd quarter worth approximately $29,000. Cape Investment Advisory Inc. purchased a new stake in shares of Royal Caribbean Cruises in the 2nd quarter worth approximately $30,000. Ancora Advisors LLC purchased a new stake in shares of Royal Caribbean Cruises in the 2nd quarter worth approximately $31,000. Finally, IMG Wealth Management Inc. bought a new position in shares of Royal Caribbean Cruises during the first quarter valued at approximately $27,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Trading Up 6.6%

Shares of NYSE:RCL opened at $333.93 on Thursday. The company has a quick ratio of 0.19, a current ratio of 0.22 and a debt-to-equity ratio of 1.69. Royal Caribbean Cruises Ltd. has a 52-week low of $222.22 and a 52-week high of $356.39. The stock has a market cap of $89.32 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.09 and a beta of 1.88. The business has a 50-day moving average price of $273.74 and a 200-day moving average price of $287.36.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, October 27th. The company reported $6.57 EPS for the quarter, beating analysts’ consensus estimates of $6.38 by $0.19. Royal Caribbean Cruises had a return on equity of 43.40% and a net margin of 23.78%. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.61 billion. During the same quarter in the prior year, the firm earned $5.75 earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities analysts predict that Royal Caribbean Cruises Ltd. will post 17.94 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date was Thursday, September 17th. Royal Caribbean Cruises’s payout ratio is presently 35.52%.

Insider Buying and Selling

In other news, Director Maritza Montiel sold 400 shares of the company’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $307.21, for a total value of $122,884.00. Following the sale, the director directly owned 13,202 shares of the company’s stock, valued at $4,055,786.42. This represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.44% of the company’s stock.

Analyst Upgrades and Downgrades

RCL has been the topic of several research reports. Bank of America raised shares of Royal Caribbean Cruises from a “neutral” rating to a “buy” rating and set a $330.00 price objective on the stock in a report on Monday, September 28th. Truist Financial upped their target price on Royal Caribbean Cruises from $297.00 to $298.00 and gave the stock a “hold” rating in a report on Thursday, September 24th. Citigroup lifted their target price on Royal Caribbean Cruises from $362.00 to $364.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Wells Fargo & Company boosted their target price on shares of Royal Caribbean Cruises from $358.00 to $361.00 and gave the stock an “overweight” rating in a report on Wednesday, October 28th. Finally, Argus increased their price target on shares of Royal Caribbean Cruises from $330.00 to $375.00 in a research report on Tuesday, July 28th. Twenty-one research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $355.62.

Royal Caribbean Cruises Profile

Royal Caribbean Cruises Ltd., doing business as Royal Caribbean Group (NYSE: RCL), is a global cruise company that operates vacation cruises and related travel experiences. Its fleet visits destinations across the Caribbean, Europe, Alaska, Asia, Australia, and other regions, with itineraries that typically include onboard entertainment, dining, accommodations, recreational activities, and shore excursions.

The company’s principal brands include Royal Caribbean International, Celebrity Cruises, and Silversea Cruises.