Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 0.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,615,639 shares of the company’s stock after purchasing an additional 7,820 shares during the quarter. Geode Capital Management LLC’s holdings in Royal Caribbean Cruises were worth $993,611,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Plato Investment Management Ltd acquired a new position in Royal Caribbean Cruises in the third quarter valued at approximately $26,000. Unique Wealth Strategies LLC purchased a new stake in Royal Caribbean Cruises in the second quarter valued at $27,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth $31,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RCL has been the topic of a number of recent analyst reports. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein began coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price target on the stock. Bank of America increased their price objective on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Barclays lifted their target price on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Tigress Financial upped their price target 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 given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $237.13.

Royal Caribbean Cruises Stock Down 0.1 %

Shares of NYSE:RCL opened at $245.52 on Thursday. 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 Ltd. has a fifty-two week low of $113.10 and a fifty-two week high of $258.70. The stock has a market cap of $66.01 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 0.68 and a beta of 2.59. The firm’s 50 day moving average price is $218.22 and its 200 day moving average price is $180.34.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping 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 company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.85 EPS. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Friday, December 27th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. Royal Caribbean Cruises’s payout ratio is currently 16.44%.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the transaction, the executive vice president now owns 22,348 shares in the company, valued at $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Henry L. Pujol sold 6,723 shares of Royal Caribbean Cruises stock in a transaction dated 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 sale, the chief accounting officer now owns 9,964 shares in the company, valued at $2,077,593.64. This trade represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 404,332 shares of company stock valued at $94,299,521. Corporate insiders own 7.95% of the company’s stock.

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.