Mackenzie Financial Corp Decreases Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Mackenzie Financial Corp cut its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 17.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 145,546 shares of the company’s stock after selling 29,883 shares during the period. Mackenzie Financial Corp’s holdings in Royal Caribbean Cruises were worth $23,204,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RCL. Scarborough Advisors LLC purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter worth about $26,000. Unique Wealth Strategies LLC purchased a new stake in Royal Caribbean Cruises during the 2nd quarter valued at $27,000. Creekmur Asset Management LLC bought a new stake in Royal Caribbean Cruises in the 4th quarter worth $30,000. Versant Capital Management Inc increased its position in shares of Royal Caribbean Cruises by 905.3% in the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after acquiring an additional 172 shares during the period. Finally, AlphaMark Advisors LLC increased its position in shares of Royal Caribbean Cruises by 233.3% in the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the period. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Royal Caribbean Cruises

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stifel Nicolaus raised their target price on Royal Caribbean Cruises from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Mizuho lifted their price target on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Morgan Stanley upped their price objective on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. UBS Group raised their target price on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Barclays boosted their price target on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Three equities research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.13.

Royal Caribbean Cruises Stock Performance

Royal Caribbean Cruises stock opened at $177.54 on Friday. The stock’s 50 day moving average is $161.59 and its 200 day moving average is $151.18. The company has a market capitalization of $45.69 billion, a P/E ratio of 22.88, a PEG ratio of 0.51 and a beta of 2.61. Royal Caribbean Cruises Ltd. has a twelve month low of $78.35 and a twelve month high of $184.41. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.45. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The company’s revenue was up 16.4% on a year-over-year basis. During the same period last year, the company earned $1.82 earnings per share. On average, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 11.66 earnings per share for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The company 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 of this dividend is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 20.62%.

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.