K2 Principal Fund L.P. Sells 4,270 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

K2 Principal Fund L.P. lessened its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 56.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,300 shares of the company’s stock after selling 4,270 shares during the period. K2 Principal Fund L.P.’s holdings in Royal Caribbean Cruises were worth $526,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. D1 Capital Partners L.P. boosted its holdings in shares of Royal Caribbean Cruises by 105.7% during the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock worth $241,075,000 after purchasing an additional 777,103 shares during the period. Eagle Asset Management Inc. bought a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $79,392,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Royal Caribbean Cruises in the first quarter worth $66,279,000. Dimensional Fund Advisors LP lifted its stake in Royal Caribbean Cruises by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after acquiring an additional 400,565 shares during the period. Finally, Junto Capital Management LP purchased a new position in Royal Caribbean Cruises during the 4th quarter valued at $47,950,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on RCL shares. Mizuho raised their price objective on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. upped their price target on Royal Caribbean Cruises from $210.00 to $213.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Macquarie raised their price objective on Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Tigress Financial increased their target price on Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley lifted their price target on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average target price of $182.31.

Royal Caribbean Cruises Stock Performance

RCL stock opened at $175.96 on Tuesday. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. Royal Caribbean Cruises Ltd. has a 1 year low of $78.35 and a 1 year high of $176.13. The company has a market cap of $45.28 billion, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 0.49 and a beta of 2.61. The stock’s fifty day moving average price is $160.63 and its 200-day moving average price is $149.90.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the firm posted $1.82 earnings per share. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The firm also recently declared a — dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio is presently 20.62%.

Insider Activity

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was 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 $4,620,629.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the completion of the sale, the director now owns 25,837 shares in the company, valued at approximately $4,095,164.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. The disclosure for this sale can be found here. 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.