Sumitomo Mitsui Trust Holdings Inc. Increases Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Sumitomo Mitsui Trust Holdings Inc. raised its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 0.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 570,587 shares of the company’s stock after acquiring an additional 1,865 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Royal Caribbean Cruises were worth $90,969,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Capital International Investors grew its position in shares of Royal Caribbean Cruises by 1.0% during the first quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock worth $4,114,203,000 after acquiring an additional 286,868 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Royal Caribbean Cruises by 0.5% during the first quarter. Vanguard Group Inc. now owns 25,409,272 shares of the company’s stock worth $3,532,143,000 after acquiring an additional 132,079 shares during the last quarter. Norges Bank purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter worth approximately $323,251,000. Swiss National Bank grew its position in shares of Royal Caribbean Cruises by 2.8% during the fourth quarter. Swiss National Bank now owns 760,938 shares of the company’s stock worth $98,534,000 after acquiring an additional 20,600 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Royal Caribbean Cruises by 15.4% during the fourth quarter. Federated Hermes Inc. now owns 639,348 shares of the company’s stock worth $82,789,000 after acquiring an additional 85,545 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RCL. Argus raised their target price on shares of Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Citigroup raised their target price on shares of Royal Caribbean Cruises from $165.00 to $204.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Stifel Nicolaus raised their target price on shares of Royal Caribbean Cruises from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. lifted their price objective on shares of Royal Caribbean Cruises from $175.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Tigress Financial lifted their price objective on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and an average target price of $182.13.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock opened at $157.80 on Monday. Royal Caribbean Cruises Ltd. has a one year low of $78.35 and a one year high of $173.37. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19. The business has a fifty day moving average of $156.93 and a two-hundred day moving average of $141.95. The company has a market cap of $40.61 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 0.42 and a beta of 2.62.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, July 25th. The company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter last year, the company earned $1.82 earnings per share. Royal Caribbean Cruises’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, analysts predict that Royal Caribbean Cruises Ltd. will post 11.63 earnings per share for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be issued a $0.40 dividend. The ex-dividend date is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 20.62%.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CFO Naftali Holtz purchased 5,350 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $140.00 per share, with a total value of $749,000.00. Following the purchase, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Naftali Holtz purchased 5,350 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $140.00 per share, with a total value of $749,000.00. Following the purchase, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard D. Fain sold 19,584 shares of Royal Caribbean Cruises stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total value of $3,015,152.64. Following the transaction, the director now directly owns 179,117 shares of the company’s stock, valued at approximately $27,576,853.32. The disclosure for this sale can be found here. 7.95% of the stock is owned by corporate 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.