Mezzasalma Advisors LLC Boosts Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Mezzasalma Advisors LLC increased its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 25,154 shares of the company’s stock after acquiring an additional 357 shares during the quarter. Royal Caribbean Cruises makes up 1.8% of Mezzasalma Advisors LLC’s portfolio, making the stock its 14th biggest holding. Mezzasalma Advisors LLC’s holdings in Royal Caribbean Cruises were worth $5,168,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. increased its position in shares of Royal Caribbean Cruises by 618.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in Royal Caribbean Cruises in the 4th quarter valued at approximately $35,000. Truvestments Capital LLC purchased a new position in Royal Caribbean Cruises in the 4th quarter valued at approximately $36,000. Capital A Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $40,000. Finally, Spurstone Advisory Services LLC purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $46,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RCL. Susquehanna decreased their target price on Royal Caribbean Cruises from $295.00 to $275.00 and set a “positive” rating for the company in a report on Wednesday, April 30th. Morgan Stanley increased 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. Truist Financial lifted their price objective on Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Jefferies Financial Group initiated coverage on shares of Royal Caribbean Cruises in a research note on Monday, March 31st. They set a “hold” rating and a $230.00 target price on the stock. Finally, Citigroup raised their target price on shares of Royal Caribbean Cruises from $268.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, June 5th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.90.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction 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 now directly owns 165,421 shares in the company, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Trading Down 0.9%

Shares of Royal Caribbean Cruises stock opened at $262.42 on Wednesday. The company has a fifty day simple moving average of $235.08 and a 200-day simple moving average of $234.21. Royal Caribbean Cruises Ltd. has a 12-month low of $130.08 and a 12-month high of $279.89. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21. The stock has a market cap of $71.26 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 0.79 and a beta of 2.14.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the company earned $1.77 earnings per share. Royal Caribbean Cruises’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.14%. Royal Caribbean Cruises’s dividend payout ratio is presently 24.92%.

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.