USA Financial Formulas Has $679,000 Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

USA Financial Formulas decreased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 33.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,304 shares of the company’s stock after selling 1,663 shares during the period. USA Financial Formulas’ holdings in Royal Caribbean Cruises were worth $679,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Assenagon Asset Management S.A. raised its holdings in shares of Royal Caribbean Cruises by 1,246.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 83,144 shares of the company’s stock worth $17,081,000 after buying an additional 76,967 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of Royal Caribbean Cruises in the 1st quarter worth approximately $3,837,000. Simplicity Wealth LLC raised its holdings in shares of Royal Caribbean Cruises by 17.9% in the 1st quarter. Simplicity Wealth LLC now owns 1,177 shares of the company’s stock worth $242,000 after buying an additional 179 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Royal Caribbean Cruises by 8.3% in the 1st quarter. GAMMA Investing LLC now owns 6,868 shares of the company’s stock worth $1,411,000 after buying an additional 528 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Royal Caribbean Cruises in the 1st quarter worth approximately $1,743,000. 87.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Richard D. Fain sold 19,600 shares of the firm’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the sale, the director now owns 165,421 shares of the company’s stock, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.95% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RCL. Citigroup increased their target price on Royal Caribbean Cruises from $268.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, June 5th. Barclays raised their price target on Royal Caribbean Cruises from $249.00 to $263.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Morgan Stanley raised their price target on Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Susquehanna dropped their price target on Royal Caribbean Cruises from $295.00 to $275.00 and set a “positive” rating for the company in a report on Wednesday, April 30th. Finally, UBS Group set a $311.00 price target on Royal Caribbean Cruises and gave the company a “buy” rating in a report on Tuesday, May 20th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $276.90.

Royal Caribbean Cruises Stock Down 1.5%

NYSE:RCL opened at $270.00 on Wednesday. Royal Caribbean Cruises Ltd. has a 12-month low of $130.08 and a 12-month high of $279.89. 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 capitalization of $73.32 billion, a P/E ratio of 25.26, a P/E/G ratio of 0.90 and a beta of 2.14. The stock’s fifty day simple moving average is $227.23 and its 200-day simple moving average is $233.47.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the company earned $1.77 EPS. The firm’s revenue was up 7.3% on a year-over-year basis. Equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises announced that its board has initiated a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Royal Caribbean Cruises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.11%. Royal Caribbean Cruises’s payout ratio is presently 24.92%.

Royal Caribbean Cruises 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.