Independent Financial Group LLC bought a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL – Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,740 shares of the company’s stock, valued at approximately $754,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of RCL. Dougherty & Associates LLC acquired a new position in Royal Caribbean Cruises during the fourth quarter worth $10,827,000. TD Asset Management Inc increased its stake in shares of Royal Caribbean Cruises by 29.7% in the 4th quarter. TD Asset Management Inc now owns 877,659 shares of the company’s stock worth $244,797,000 after acquiring an additional 201,014 shares during the last quarter. North Dakota State Investment Board purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter worth $2,424,000. Stanley Laman Group Ltd. acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at about $2,159,000. Finally, Capital International Sarl boosted its position in shares of Royal Caribbean Cruises by 19.3% during the 4th quarter. Capital International Sarl now owns 363,713 shares of the company’s stock valued at $101,447,000 after acquiring an additional 58,734 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.
Royal Caribbean Cruises Stock Performance
NYSE RCL opened at $288.29 on Wednesday. The stock has a fifty day simple moving average of $287.96 and a 200-day simple moving average of $289.04. The company has a current ratio of 0.20, a quick ratio of 0.17 and a debt-to-equity ratio of 1.96. The stock has a market cap of $77.32 billion, a PE ratio of 17.59, a P/E/G ratio of 1.01 and a beta of 1.76. Royal Caribbean Cruises Ltd. has a twelve month low of $232.10 and a twelve month high of $366.50.
Royal Caribbean Cruises Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 3rd were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, June 3rd. Royal Caribbean Cruises’s payout ratio is 36.61%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on RCL shares. Morgan Stanley cut their price objective on shares of Royal Caribbean Cruises from $310.00 to $280.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 26th. Wells Fargo & Company boosted their target price on shares of Royal Caribbean Cruises from $360.00 to $361.00 and gave the company an “overweight” rating in a report on Monday, June 22nd. Barclays dropped their price target on shares of Royal Caribbean Cruises from $351.00 to $340.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Loop Capital initiated coverage on shares of Royal Caribbean Cruises in a report on Monday, June 1st. They set a “hold” rating and a $304.00 price target for the company. Finally, Zacks Research raised shares of Royal Caribbean Cruises from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $345.05.
Check Out Our Latest Stock Analysis on RCL
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises (NYSE: RCL), operating as part of the Royal Caribbean Group, is a global cruise company that develops, markets and operates passenger cruise ships. The company operates multiple consumer-facing cruise brands that offer short- and long-duration itineraries and a range of onboard experiences. Its core activities include itineraries and voyage operations, guest services and hospitality, onboard food and beverage, entertainment and recreation programming, and the commercial activities needed to sell and support cruises through both direct and travel‑agent channels.
Royal Caribbean’s ships serve a broad set of geographies worldwide, regularly deploying vessels in the Caribbean, North America (including Alaska), Europe, Asia, Australia and South America.
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