Harvest Portfolios Group Inc. Reduces Stake in Royal Caribbean Cruises Ltd. $RCL

Harvest Portfolios Group Inc. lowered its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,885 shares of the company’s stock after selling 1,624 shares during the period. Harvest Portfolios Group Inc.’s holdings in Royal Caribbean Cruises were worth $9,358,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in shares of Royal Caribbean Cruises in the second quarter valued at $27,000. Oliver Lagore Vanvalin Investment Group bought a new position in Royal Caribbean Cruises during the second quarter worth about $31,000. 1 North Wealth Services LLC purchased a new position in shares of Royal Caribbean Cruises in the second quarter worth about $31,000. Trust Co. of Toledo NA OH bought a new stake in shares of Royal Caribbean Cruises in the second quarter valued at approximately $32,000. Finally, Financial Gravity Asset Management Inc. bought a new position in Royal Caribbean Cruises in the 1st quarter worth approximately $25,000. 87.53% of the stock is owned by institutional investors.

Royal Caribbean Cruises Trading Down 1.2%

Shares of RCL opened at $253.65 on Friday. Royal Caribbean Cruises Ltd. has a 1-year low of $164.01 and a 1-year high of $366.50. The company has a market capitalization of $69.17 billion, a P/E ratio of 17.06, a P/E/G ratio of 0.84 and a beta of 2.04. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.16 and a quick ratio of 0.21. The firm’s 50 day simple moving average is $318.09 and its 200 day simple moving average is $298.33.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $5.75 earnings per share for the quarter, beating the consensus estimate of $5.68 by $0.07. Royal Caribbean Cruises had a net margin of 23.33% and a return on equity of 44.68%. The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.16 billion. During the same quarter last year, the company posted $5.20 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Royal Caribbean Cruises has set its FY 2025 guidance at 15.580-15.630 EPS. Q4 2025 guidance at 2.740-2.790 EPS. Sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 13th. Shareholders of record on Thursday, September 25th were paid a $1.00 dividend. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.75. This represents a $4.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Thursday, September 25th. Royal Caribbean Cruises’s payout ratio is currently 26.90%.

Insider Activity at Royal Caribbean Cruises

In other news, Director Vagn O. Sorensen sold 10,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $330.04, for a total value of $3,399,412.00. Following the completion of the sale, the director directly owned 16,407 shares in the company, valued at approximately $5,414,966.28. The trade was a 38.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Maritza Gomez Montiel sold 1,100 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $281.76, for a total transaction of $309,936.00. Following the sale, the director owned 14,234 shares of the company’s stock, valued at approximately $4,010,571.84. The trade was a 7.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.95% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

RCL has been the topic of several recent research reports. TD Cowen assumed coverage on Royal Caribbean Cruises in a research report on Tuesday, July 22nd. They set a “buy” rating and a $405.00 target price on the stock. Citigroup dropped their price objective on Royal Caribbean Cruises from $399.00 to $336.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Wall Street Zen cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Susquehanna set a $350.00 price objective on shares of Royal Caribbean Cruises and gave the company a “positive” rating in a research note on Thursday, October 30th. Finally, Bank of America upped their target price on shares of Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. One 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. According to data from MarketBeat, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average target price of $326.86.

Royal Caribbean Cruises Company 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.