Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 569,890 shares of the company’s stock after buying an additional 18,868 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Royal Caribbean Cruises were worth $131,468,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in RCL. Plato Investment Management Ltd acquired a new position in Royal Caribbean Cruises during the third quarter worth approximately $26,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Royal Caribbean Cruises during the third quarter worth approximately $27,000. Bay Harbor Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $36,000. DiNuzzo Private Wealth Inc. raised its position in Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in Royal Caribbean Cruises during the 4th quarter worth $40,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Macquarie lifted their price objective on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. UBS Group boosted 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. Barclays lifted their target price on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Tigress Financial upped their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Morgan Stanley increased their price target on Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $284.12.

Royal Caribbean Cruises Stock Performance

RCL opened at $264.39 on Friday. Royal Caribbean Cruises Ltd. has a 1-year low of $113.10 and a 1-year high of $277.08. The stock has a market cap of $71.09 billion, a P/E ratio of 24.73, a P/E/G ratio of 0.98 and a beta of 2.59. The stock’s 50 day simple moving average is $242.24 and its 200 day simple moving average is $204.62. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15.

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, beating analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same period in the previous year, the company earned $1.25 earnings per share. As a group, equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.96 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

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

Insider Activity

In other news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total value of $53,732,600.00. Following the completion of the transaction, the director now directly owns 18,556,860 shares of the company’s stock, valued at $4,335,253,633.20. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the sale, the executive vice president now directly owns 22,348 shares in the company, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 372,609 shares of company stock worth $87,647,208 over the last ninety days. 7.95% of the stock is currently owned by insiders.

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.