Highland Capital Management LLC Sells 5,658 Shares of Royal Caribbean Cruises Ltd. $RCL

Highland Capital Management LLC trimmed its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 35.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,170 shares of the company’s stock after selling 5,658 shares during the period. Highland Capital Management LLC’s holdings in Royal Caribbean Cruises were worth $3,185,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in RCL. Nuveen LLC purchased a new stake in shares of Royal Caribbean Cruises during the 1st quarter valued at $358,614,000. Vanguard Group Inc. raised its position in shares of Royal Caribbean Cruises by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 28,674,763 shares of the company’s stock valued at $5,890,943,000 after buying an additional 602,447 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Royal Caribbean Cruises by 21.8% during the 1st quarter. Bank of New York Mellon Corp now owns 2,991,079 shares of the company’s stock valued at $614,487,000 after buying an additional 535,043 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Royal Caribbean Cruises by 179.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 645,200 shares of the company’s stock valued at $132,550,000 after buying an additional 414,100 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Royal Caribbean Cruises by 112.9% during the 1st quarter. Ameriprise Financial Inc. now owns 566,273 shares of the company’s stock valued at $116,396,000 after buying an additional 300,232 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 16,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $311.02, for a total value of $4,976,320.00. Following the transaction, the director owned 150,291 shares in the company, valued at approximately $46,743,506.82. The trade was a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Henry L. Pujol sold 5,207 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $329.47, for a total transaction of $1,715,550.29. Following the completion of the transaction, the chief accounting officer owned 7,826 shares in the company, valued at $2,578,432.22. The trade was a 39.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,507 shares of company stock worth $10,091,282. 6.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RCL. JPMorgan Chase & Co. raised their price objective on shares of Royal Caribbean Cruises from $302.00 to $367.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Bank of America raised their price objective on shares of Royal Caribbean Cruises from $230.00 to $355.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. UBS Group raised their price objective on shares of Royal Caribbean Cruises from $311.00 to $353.00 and gave the company a “buy” rating in a research report on Friday, August 8th. TD Cowen initiated coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, July 22nd. They issued a “buy” rating and a $405.00 target price on the stock. Finally, Susquehanna reiterated a “positive” rating and issued a $385.00 target price (up previously from $275.00) on shares of Royal Caribbean Cruises in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $314.39 on Friday. The stock has a market cap of $85.40 billion, a PE ratio of 23.57, a PEG ratio of 0.88 and a beta of 2.08. The company’s fifty day moving average is $331.57 and its 200 day moving average is $282.06. Royal Caribbean Cruises Ltd. has a 52 week low of $164.01 and a 52 week high of $366.50. The company has a quick ratio of 0.21, a current ratio of 0.23 and a debt-to-equity ratio of 1.88.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, July 29th. The company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the company earned $3.21 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. Research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 13th. Shareholders of record on Thursday, September 25th will be given a $1.00 dividend. The ex-dividend date is Thursday, September 25th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.75. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.3%. Royal Caribbean Cruises’s dividend payout ratio is presently 29.99%.

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.