Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Purchased by M&T Bank Corp

M&T Bank Corp raised its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 5.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,703 shares of the company’s stock after acquiring an additional 664 shares during the quarter. M&T Bank Corp’s holdings in Royal Caribbean Cruises were worth $2,254,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Plato Investment Management Ltd acquired a new position in shares of Royal Caribbean Cruises during the third quarter worth about $26,000. Unique Wealth Strategies LLC acquired a new position in Royal Caribbean Cruises during the 2nd quarter worth approximately $27,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after buying an additional 121 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of Royal Caribbean Cruises in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Activity at Royal Caribbean Cruises

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the completion of the transaction, the director now owns 18,167,507 shares of the company’s stock, valued at $4,321,868,240.23. This represents a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the transaction, the chief accounting officer now owns 9,964 shares in the company, valued at approximately $2,077,593.64. The trade was a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 404,332 shares of company stock worth $94,299,521. 7.95% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price objective for the company. Barclays raised their price objective on shares of Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an “overweight” rating in a research note on Friday. Wells Fargo & Company upped their target price on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Stifel Nicolaus lifted their price target on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. upped their price target on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.75.

Royal Caribbean Cruises Price Performance

NYSE:RCL opened at $245.26 on Friday. The firm has a market cap of $65.94 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 0.65 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a 12-month low of $113.10 and a 12-month high of $258.70. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The company’s 50-day moving average is $222.37 and its two-hundred day moving average is $181.90.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.15. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.85 earnings per share. Research analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.20 annualized dividend and a yield of 0.90%. Royal Caribbean Cruises’s payout ratio is currently 22.61%.

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.