Fulton Bank N.A. Raises Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Fulton Bank N.A. boosted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 36.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,661 shares of the company’s stock after purchasing an additional 1,788 shares during the quarter. Fulton Bank N.A.’s holdings in Royal Caribbean Cruises were worth $1,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RCL. Plato Investment Management Ltd bought a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at about $26,000. Safe Harbor Fiduciary LLC purchased a new stake in Royal Caribbean Cruises during the third quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. boosted its stake in Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after acquiring an additional 121 shares in the last quarter. LRI Investments LLC purchased a new position in Royal Caribbean Cruises in the third quarter worth $31,000. Finally, Meeder Asset Management Inc. grew its holdings in Royal Caribbean Cruises by 50.3% in the second quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $37,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RCL. Morgan Stanley raised their price objective on Royal Caribbean Cruises from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Bank of America raised their price target on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Stifel Nicolaus upped their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a report on Friday, December 6th. Tigress Financial increased their price objective on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Citigroup boosted their target price on shares of Royal Caribbean Cruises from $257.00 to $283.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.25.

Royal Caribbean Cruises Stock Up 0.7 %

Shares of RCL opened at $227.00 on Thursday. The company has a market capitalization of $61.03 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 0.65 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a 52 week low of $113.10 and a 52 week high of $258.70. The stock’s 50-day moving average price is $234.91 and its 200-day moving average price is $192.39. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. Royal Caribbean Cruises’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.85 earnings per share. On average, sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.20 annualized dividend and a yield of 0.97%. Royal Caribbean Cruises’s dividend payout ratio is presently 22.61%.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the sale, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard D. Fain sold 25,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the completion of the transaction, the director now directly owns 204,521 shares of the company’s stock, valued at $42,953,500.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 404,332 shares of company stock valued at $94,299,521. Corporate insiders own 7.95% of the company’s stock.

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.