Handelsbanken Fonder AB Has $24.56 Million Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Handelsbanken Fonder AB lowered its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,532 shares of the company’s stock after selling 3,589 shares during the period. Handelsbanken Fonder AB’s holdings in Royal Caribbean Cruises were worth $24,557,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Brown Brothers Harriman & Co. grew its holdings in Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock valued at $27,000 after buying an additional 99 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at about $35,000. Truvestments Capital LLC acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at about $36,000. Capital A Wealth Management LLC bought a new position in Royal Caribbean Cruises during the fourth quarter worth about $40,000. Finally, Atlantic Edge Private Wealth Management LLC raised its stake in Royal Caribbean Cruises by 100.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company’s stock worth $46,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Down 1.5%

RCL stock opened at $270.00 on Wednesday. The firm has a 50-day moving average price of $227.23 and a 200-day moving average price of $233.47. Royal Caribbean Cruises Ltd. has a 12 month low of $130.08 and a 12 month high of $279.89. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $73.32 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 0.90 and a beta of 2.14.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data 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. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.77 EPS. As a group, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.11%. Royal Caribbean Cruises’s dividend payout ratio is currently 24.92%.

Royal Caribbean Cruises declared that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the sale, the director now directly owns 165,421 shares in the company, valued at $41,868,055.10. This trade represents a 10.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RCL. Northcoast Research initiated coverage on shares of Royal Caribbean Cruises in a report on Friday, April 25th. They issued a “buy” rating and a $279.00 price objective for the company. Stifel Nicolaus boosted their price target on Royal Caribbean Cruises from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Susquehanna reduced their price target on Royal Caribbean Cruises from $295.00 to $275.00 and set a “positive” rating on the stock in a research report on Wednesday, April 30th. Truist Financial raised their price objective on Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Finally, Macquarie cut their target price on Royal Caribbean Cruises from $300.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average price target of $276.90.

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.