Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Forsta AP Fonden

Forsta AP Fonden reduced its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 9.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,800 shares of the company’s stock after selling 6,100 shares during the quarter. Forsta AP Fonden’s holdings in Royal Caribbean Cruises were worth $9,534,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $323,251,000. Eagle Asset Management Inc. acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $79,392,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Royal Caribbean Cruises during the 1st quarter worth approximately $66,279,000. Junto Capital Management LP acquired a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $47,950,000. Finally, Vanguard Group Inc. increased its stake in Royal Caribbean Cruises by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 25,277,193 shares of the company’s stock valued at $3,273,144,000 after purchasing an additional 359,770 shares in the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RCL shares. Barclays upped their target price on Royal Caribbean Cruises from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Susquehanna lifted their target price on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Tuesday, July 30th. Bank of America increased their price target on shares of Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Tigress Financial lifted their price objective on Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley upped their target price on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $182.13.

Insider Activity

In related news, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Naftali Holtz acquired 5,350 shares of Royal Caribbean Cruises stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the completion of the purchase, the chief financial officer now directly owns 48,256 shares in the company, valued at approximately $6,755,840. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The disclosure for this sale can be found here. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Price Performance

RCL opened at $167.92 on Friday. Royal Caribbean Cruises Ltd. has a 1 year low of $78.35 and a 1 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 company’s 50 day simple moving average is $159.74 and its 200 day simple moving average is $147.59. The stock has a market capitalization of $43.21 billion, a PE ratio of 21.64, a P/E/G ratio of 0.46 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. Royal Caribbean Cruises’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the business earned $1.82 EPS. As a group, sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

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

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.