State of Alaska Department of Revenue Has $6.51 Million Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

State of Alaska Department of Revenue grew its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.5% during the 4th quarter, HoldingsChannel reports. The firm owned 28,205 shares of the company’s stock after acquiring an additional 690 shares during the quarter. State of Alaska Department of Revenue’s holdings in Royal Caribbean Cruises were worth $6,506,000 as of its most recent filing with the SEC.

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

Royal Caribbean Cruises Price Performance

NYSE:RCL opened at $264.39 on Friday. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The firm has a market cap of $71.09 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 0.98 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a 12 month low of $113.10 and a 12 month high of $277.08. The company’s 50-day moving average price is $242.24 and its two-hundred day moving average price is $204.62.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping the consensus estimate 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 prior year, the company posted $1.25 EPS. On average, 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 announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Friday, December 27th were paid a $0.55 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 20.58%.

Insider Activity 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 value 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 document filed with the SEC, which is available at the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of the company’s 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 transaction, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 372,609 shares of company stock valued at $87,647,208 over the last ninety days. 7.95% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RCL. Macquarie boosted their price objective on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Truist Financial lifted their price objective on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Argus upped their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Mizuho reiterated an “outperform” rating and set a $253.00 price target (down previously from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $284.12.

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.