Renaissance Group LLC Sells 18,660 Shares of Royal Caribbean Cruises Ltd. $RCL

Renaissance Group LLC decreased its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 12.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,688 shares of the company’s stock after selling 18,660 shares during the period. Royal Caribbean Cruises accounts for about 1.6% of Renaissance Group LLC’s investment portfolio, making the stock its 7th largest holding. Renaissance Group LLC’s holdings in Royal Caribbean Cruises were worth $40,611,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RCL. Nuveen LLC bought a new position in Royal Caribbean Cruises during the first quarter valued at about $358,614,000. Vanguard Group Inc. boosted its position in shares of Royal Caribbean Cruises by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 29,604,177 shares of the company’s stock valued at $9,270,252,000 after purchasing an additional 929,414 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Royal Caribbean Cruises by 7,971.4% in the 2nd quarter. Bessemer Group Inc. now owns 540,222 shares of the company’s stock worth $169,165,000 after purchasing an additional 533,529 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Royal Caribbean Cruises by 6.6% in the 2nd quarter. Geode Capital Management LLC now owns 6,667,927 shares of the company’s stock worth $2,079,877,000 after purchasing an additional 415,230 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Royal Caribbean Cruises by 179.2% during the first quarter. Adage Capital Partners GP L.L.C. now owns 645,200 shares of the company’s stock valued at $132,550,000 after purchasing an additional 414,100 shares during the last quarter. 87.53% of the stock is owned by institutional investors.

Royal Caribbean Cruises Stock Up 2.0%

Shares of Royal Caribbean Cruises stock opened at $251.69 on Wednesday. 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 cap of $68.64 billion, a P/E ratio of 16.93, a P/E/G ratio of 0.84 and a beta of 2.04. The company has a current ratio of 0.16, a quick ratio of 0.21 and a debt-to-equity ratio of 1.67. The stock has a 50-day moving average price of $302.30 and a 200 day moving average price of $302.07.

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

Royal Caribbean Cruises Increases Dividend

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

Insider Activity at Royal Caribbean Cruises

In other news, Director Maritza Gomez Montiel sold 1,100 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $281.76, for a total value of $309,936.00. Following the transaction, the director directly owned 14,234 shares of the company’s stock, valued at approximately $4,010,571.84. This represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.95% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on RCL shares. Stifel Nicolaus decreased their price target on shares of Royal Caribbean Cruises from $420.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Susquehanna set a $350.00 target price on Royal Caribbean Cruises and gave the company a “positive” rating in a report on Thursday, October 30th. Wall Street Zen lowered Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Citigroup cut 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. Finally, Mizuho decreased their target price on shares of Royal Caribbean Cruises from $372.00 to $362.00 and set an “outperform” rating for the company in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $326.82.

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.