Sumitomo Mitsui DS Asset Management Company Ltd Cuts Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,851 shares of the company’s stock after selling 1,724 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Royal Caribbean Cruises were worth $7,809,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of RCL. Fifth Third Wealth Advisors LLC raised its position in shares of Royal Caribbean Cruises by 2.2% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company’s stock valued at $544,000 after buying an additional 50 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Royal Caribbean Cruises by 12.3% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 457 shares of the company’s stock worth $106,000 after purchasing an additional 50 shares during the period. FSM Wealth Advisors LLC increased its position in shares of Royal Caribbean Cruises by 3.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock valued at $290,000 after purchasing an additional 51 shares during the last quarter. Brooklyn Investment Group raised its holdings in Royal Caribbean Cruises by 2.5% during the 4th quarter. Brooklyn Investment Group now owns 2,117 shares of the company’s stock valued at $488,000 after buying an additional 52 shares during the period. Finally, Grove Bank & Trust lifted its position in Royal Caribbean Cruises by 10.5% in the fourth quarter. Grove Bank & Trust now owns 613 shares of the company’s stock worth $141,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the completion of the transaction, the director now owns 18,167,507 shares in the company, valued at $4,321,868,240.23. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the sale, the executive vice president now owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 372,609 shares of company stock valued at $87,647,208. Corporate insiders own 7.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RCL. UBS Group increased their target price on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a research note on Tuesday. Susquehanna increased their price objective on shares of Royal Caribbean Cruises from $245.00 to $305.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Citigroup boosted their target price on Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Tigress Financial increased their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Friday. Finally, 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 research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $284.12.

Royal Caribbean Cruises Stock Down 2.2 %

Shares of Royal Caribbean Cruises stock opened at $264.39 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 stock has a market cap of $71.09 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 0.98 and a beta of 2.59. The firm’s 50-day moving average is $242.24 and its two-hundred day moving average is $204.62. Royal Caribbean Cruises Ltd. has a 1 year low of $113.10 and a 1 year high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same period in the previous year, the firm posted $1.25 earnings per share. As a group, research analysts expect that Royal Caribbean Cruises Ltd. will post 14.96 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Friday, December 27th were issued a $0.55 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.83%. Royal Caribbean Cruises’s dividend payout ratio is presently 20.58%.

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.