Earnest Partners LLC Sells 4,061 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Earnest Partners LLC lowered its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 210,764 shares of the company’s stock after selling 4,061 shares during the quarter. Earnest Partners LLC owned 0.08% of Royal Caribbean Cruises worth $33,602,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Blair William & Co. IL lifted its position in shares of Royal Caribbean Cruises by 37.4% during the 1st quarter. Blair William & Co. IL now owns 102,133 shares of the company’s stock worth $14,197,000 after buying an additional 27,819 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Royal Caribbean Cruises by 17.2% during the 2nd quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock worth $6,156,000 after buying an additional 5,655 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $765,000. Cibc World Markets Corp raised its holdings in shares of Royal Caribbean Cruises by 40.9% in the 4th quarter. Cibc World Markets Corp now owns 59,677 shares of the company’s stock worth $7,728,000 after purchasing an additional 17,316 shares during the period. Finally, Focus Financial Network Inc. ADV bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $327,000. Institutional investors own 87.53% of the company’s stock.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the company’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 sale, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the company’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 sale, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Vagn O. Sorensen sold 5,800 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Price Performance

RCL stock opened at $182.81 on Friday. Royal Caribbean Cruises Ltd. has a 1 year low of $78.35 and a 1 year high of $184.41. The company has a market cap of $47.05 billion, a P/E ratio of 23.56, a PEG ratio of 0.50 and a beta of 2.61. The firm has a 50-day moving average of $161.04 and a 200 day moving average of $150.46. 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 (NYSE:RCL) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm earned $1.82 earnings per share. Royal Caribbean Cruises’s revenue was up 16.4% on a year-over-year basis. On average, sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 11.66 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently disclosed 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 presently 20.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RCL shares. 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 report on Wednesday, July 31st. Susquehanna lifted their price target on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday. Barclays lifted their price target on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Royal Caribbean Cruises from $210.00 to $213.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.13.

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.