Advisor Resource Council Buys New Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Advisor Resource Council bought a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the first quarter, HoldingsChannel.com reports. The fund bought 4,321 shares of the company’s stock, valued at approximately $879,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Systems of Alabama raised its position in Royal Caribbean Cruises by 19.1% in the 1st quarter. Retirement Systems of Alabama now owns 224,931 shares of the company’s stock valued at $46,210,000 after buying an additional 36,118 shares during the last quarter. Premier Path Wealth Partners LLC increased its position in shares of Royal Caribbean Cruises by 6.2% during the 1st quarter. Premier Path Wealth Partners LLC now owns 2,410 shares of the company’s stock worth $495,000 after purchasing an additional 140 shares during the last quarter. Friedenthal Financial increased its position in shares of Royal Caribbean Cruises by 20.7% during the 1st quarter. Friedenthal Financial now owns 4,030 shares of the company’s stock worth $828,000 after purchasing an additional 692 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Royal Caribbean Cruises by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 28,990 shares of the company’s stock worth $5,955,000 after purchasing an additional 785 shares during the last quarter. Finally, CWA Asset Management Group LLC increased its position in shares of Royal Caribbean Cruises by 6.8% during the 1st quarter. CWA Asset Management Group LLC now owns 3,521 shares of the company’s stock worth $723,000 after purchasing an additional 225 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Wall Street Analyst Weigh In

RCL has been the topic of several recent analyst reports. Northcoast Research initiated coverage on Royal Caribbean Cruises in a research report on Friday, April 25th. They set a “buy” rating and a $279.00 price target on the stock. Loop Capital reaffirmed a “buy” rating and set a $290.00 price target (up previously from $250.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, June 3rd. Melius Research raised Royal Caribbean Cruises to a “strong-buy” rating in a research report on Monday, April 21st. Truist Financial boosted their price target on Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Finally, UBS Group set a $311.00 price target on Royal Caribbean Cruises and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and a consensus target price of $276.90.

Royal Caribbean Cruises Stock Performance

RCL opened at $272.84 on Friday. The business has a fifty day simple moving average of $239.38 and a 200 day simple moving average of $234.67. The company has a market capitalization of $74.09 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 0.81 and a beta of 2.14. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $279.89. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.18 and a quick ratio of 0.15.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.18. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. Royal Caribbean Cruises had a return on equity of 47.89% and a net margin of 19.38%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.77 EPS. Research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.10%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 24.92%.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of the company’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the completion of the sale, the director now directly owns 165,421 shares in the company, valued at approximately $41,868,055.10. This represents a 10.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises 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.