Range Financial Group LLC Grows Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Range Financial Group LLC increased its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 582.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,426 shares of the company’s stock after acquiring an additional 16,581 shares during the quarter. Royal Caribbean Cruises comprises approximately 2.1% of Range Financial Group LLC’s investment portfolio, making the stock its 5th biggest holding. Range Financial Group LLC’s holdings in Royal Caribbean Cruises were worth $4,481,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. D1 Capital Partners L.P. lifted its stake in Royal Caribbean Cruises by 105.7% in the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock valued at $241,075,000 after buying an additional 777,103 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Royal Caribbean Cruises by 10,599.0% in the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock worth $72,696,000 after purchasing an additional 406,048 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Royal Caribbean Cruises by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after purchasing an additional 400,565 shares in the last quarter. Forest Avenue Capital Management LP bought a new stake in shares of Royal Caribbean Cruises in the second quarter worth $35,038,000. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Royal Caribbean Cruises by 809.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company’s stock worth $27,601,000 after purchasing an additional 154,090 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.

Insiders Place Their Bets

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of Royal Caribbean Cruises stock in a transaction 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 sale, 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, Director Richard D. Fain sold 25,000 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the completion of the sale, the director now owns 204,521 shares of the company’s stock, valued at $42,953,500.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 404,332 shares of company stock worth $94,299,521. 7.95% of the stock is currently owned by insiders.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock traded down $3.30 during trading hours on Tuesday, reaching $225.11. 1,781,437 shares of the stock were exchanged, compared to its average volume of 1,873,729. The stock has a 50 day moving average of $234.24 and a two-hundred day moving average of $191.62. Royal Caribbean Cruises Ltd. has a twelve month low of $113.10 and a twelve month high of $258.70. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The company has a market cap of $60.53 billion, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 0.65 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the company earned $3.85 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. Equities analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.20 annualized dividend and a yield of 0.98%. Royal Caribbean Cruises’s payout ratio is 22.61%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Truist Financial boosted their target price on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Tigress Financial boosted their target price on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Macquarie boosted their target price on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Stifel Nicolaus upped their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Bank of America upped their price objective on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.75.

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.