Pacer Advisors Inc. Decreases Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Pacer Advisors Inc. reduced its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 22.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,705 shares of the company’s stock after selling 5,848 shares during the period. Pacer Advisors Inc.’s holdings in Royal Caribbean Cruises were worth $3,142,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. AE Wealth Management LLC grew its stake in shares of Royal Caribbean Cruises by 50.0% in the second quarter. AE Wealth Management LLC now owns 7,834 shares of the company’s stock valued at $1,249,000 after buying an additional 2,611 shares in the last quarter. ASB Consultores LLC acquired a new stake in Royal Caribbean Cruises in the second quarter valued at approximately $266,000. Bridges Investment Management Inc. purchased a new stake in shares of Royal Caribbean Cruises during the second quarter valued at approximately $300,000. Benjamin Edwards Inc. lifted its position in shares of Royal Caribbean Cruises by 99.0% during the second quarter. Benjamin Edwards Inc. now owns 2,639 shares of the company’s stock worth $421,000 after purchasing an additional 1,313 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Royal Caribbean Cruises by 104.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,571 shares of the company’s stock valued at $251,000 after purchasing an additional 803 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Royal Caribbean Cruises

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

Wall Street Analyst Weigh In

Several research firms recently commented on RCL. Argus boosted their price target on Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. The Goldman Sachs Group upped their target price on Royal Caribbean Cruises from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Stifel Nicolaus raised their price target 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. UBS Group lifted their price target on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Susquehanna increased their price objective on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $182.31.

Royal Caribbean Cruises Price Performance

Shares of RCL opened at $179.65 on Wednesday. Royal Caribbean Cruises Ltd. has a 12 month low of $78.35 and a 12 month high of $179.75. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. The stock has a fifty day moving average price of $160.78 and a 200 day moving average price of $150.27. The company has a market cap of $46.23 billion, a P/E ratio of 23.15, a PEG ratio of 0.49 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 (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the company posted $1.82 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

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