Harvest Fund Management Co. Ltd Has $466,000 Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Harvest Fund Management Co. Ltd lowered its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 62.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,266 shares of the company’s stock after selling 3,776 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Royal Caribbean Cruises were worth $466,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Royal Caribbean Cruises by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company’s stock valued at $1,373,856,000 after purchasing an additional 353,893 shares in the last quarter. Revisor Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises in the 1st quarter worth about $1,525,000. Groupama Asset Managment purchased a new position in shares of Royal Caribbean Cruises in the 4th quarter worth about $1,122,000. Brown Miller Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises in the 1st quarter worth about $266,000. Finally, Florida Financial Advisors LLC lifted its holdings in Royal Caribbean Cruises by 87.6% during the first quarter. Florida Financial Advisors LLC now owns 1,957 shares of the company’s stock valued at $402,000 after purchasing an additional 914 shares during the last quarter. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of Royal Caribbean Cruises stock opened at $330.96 on Thursday. Royal Caribbean Cruises Ltd. has a 52-week low of $130.08 and a 52-week high of $355.91. The stock has a market capitalization of $89.88 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 0.94 and a beta of 2.17. The company has a fifty day moving average of $299.59 and a 200-day moving average of $252.59. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.15 and a current ratio of 0.23.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.34. Royal Caribbean Cruises had a net margin of 20.97% and a return on equity of 47.15%. The firm had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the business earned $3.21 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. Equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 0.91%. Royal Caribbean Cruises’s dividend payout ratio is 24.92%.

Insider Activity

In other news, Director Richard D. Fain sold 19,600 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total value of $4,960,760.00. Following the transaction, the director owned 165,421 shares in the company, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 6.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Bank of America upped their price objective on shares of Royal Caribbean Cruises from $230.00 to $355.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Loop Capital reiterated a “buy” rating and set a $290.00 price target (up from $250.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, June 3rd. Citigroup upped their price target on Royal Caribbean Cruises from $390.00 to $399.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays upped their price target on Royal Caribbean Cruises from $263.00 to $358.00 and gave the company an “overweight” rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley upped their price target on Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus target price of $321.10.

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.