Ipswich Investment Management Co. Inc. Increases Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Ipswich Investment Management Co. Inc. grew its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,319 shares of the company’s stock after buying an additional 60 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Royal Caribbean Cruises were worth $476,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brown Brothers Harriman & Co. raised its position in shares of Royal Caribbean Cruises by 618.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock valued at $27,000 after buying an additional 99 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in Royal Caribbean Cruises during the 4th quarter worth about $35,000. Truvestments Capital LLC purchased a new stake in Royal Caribbean Cruises in the fourth quarter valued at $36,000. Capital A Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $40,000. Finally, Spurstone Advisory Services LLC purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter worth about $46,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Susquehanna reduced 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. Macquarie dropped their price objective on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. BNP Paribas began coverage on shares of Royal Caribbean Cruises in a research report on Thursday, March 27th. They set an “outperform” rating and a $262.00 price target on the stock. Melius Research raised shares of Royal Caribbean Cruises to a “strong-buy” rating in a report on Monday, April 21st. Finally, Barclays increased their price target on shares of Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $276.90.

Royal Caribbean Cruises Trading Down 3.0%

Shares of NYSE:RCL opened at $257.77 on Friday. Royal Caribbean Cruises Ltd. has a twelve month low of $130.08 and a twelve month high of $279.89. The firm has a market cap of $70.00 billion, a P/E ratio of 24.11, a P/E/G ratio of 0.90 and a beta of 2.14. The company has a 50 day moving average of $232.33 and a 200-day moving average of $233.97. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the business posted $1.77 earnings per share. Royal Caribbean Cruises’s revenue was up 7.3% compared to the same quarter last year. As a group, analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.16%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 24.92%.

Insider Activity at Royal Caribbean Cruises

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 value of $4,960,760.00. Following the completion of the transaction, the director now directly owns 165,421 shares of the company’s stock, valued at $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.95% of the stock is owned by company insiders.

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.