Rafferty Asset Management LLC Has $5.79 Million Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Rafferty Asset Management LLC raised its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 11.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 25,117 shares of the company’s stock after acquiring an additional 2,561 shares during the period. Rafferty Asset Management LLC’s holdings in Royal Caribbean Cruises were worth $5,794,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in RCL. Brown Brothers Harriman & Co. lifted its holdings in shares of Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock valued at $27,000 after purchasing an additional 99 shares in the last quarter. Bay Harbor Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $36,000. Truvestments Capital LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $36,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Royal Caribbean Cruises by 100.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company’s stock valued at $46,000 after purchasing an additional 100 shares in the last quarter. Finally, Quent Capital LLC lifted its holdings in shares of Royal Caribbean Cruises by 40.2% in the fourth quarter. Quent Capital LLC now owns 237 shares of the company’s stock valued at $55,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Analyst Ratings Changes

RCL has been the topic of a number of recent research reports. BNP Paribas initiated coverage on Royal Caribbean Cruises in a report on Thursday, March 27th. They issued an “outperform” rating and a $262.00 target price on the stock. Jefferies Financial Group began coverage on Royal Caribbean Cruises in a report on Monday, March 31st. They issued a “hold” rating and a $230.00 target price on the stock. UBS Group increased their price target on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. The Goldman Sachs Group decreased their price target on Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, Barclays increased their price target on Royal Caribbean Cruises from $249.00 to $263.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and an average target price of $271.30.

Insider Activity

In other news, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the transaction, the insider now directly owns 21,155 shares in the company, valued at approximately $5,539,648.30. The trade was a 41.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Naftali Holtz sold 17,000 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total value of $4,447,540.00. Following the completion of the transaction, the chief financial officer now owns 42,127 shares of the company’s stock, valued at approximately $11,021,265.74. This trade represents a 28.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,992 shares of company stock worth $23,566,445. 7.95% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $255.62 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The business has a fifty day simple moving average of $212.05 and a two-hundred day simple moving average of $229.90. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $277.08. The company has a market capitalization of $69.42 billion, a P/E ratio of 23.91, a P/E/G ratio of 0.90 and a beta of 2.12.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the business posted $1.77 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.17%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 24.92%.

Royal Caribbean Cruises declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.