Canopy Partners LLC Buys New Stake in Royal Caribbean Cruises Ltd. $RCL

Canopy Partners LLC bought a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 759 shares of the company’s stock, valued at approximately $238,000.

Several other hedge funds also recently made changes to their positions in the company. KLP Kapitalforvaltning AS grew its holdings in shares of Royal Caribbean Cruises by 7.1% during the second quarter. KLP Kapitalforvaltning AS now owns 92,583 shares of the company’s stock worth $29,061,000 after purchasing an additional 6,100 shares during the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Royal Caribbean Cruises by 75.1% during the second quarter. Belpointe Asset Management LLC now owns 1,755 shares of the company’s stock worth $550,000 after purchasing an additional 753 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Royal Caribbean Cruises by 1.0% during the second quarter. Valeo Financial Advisors LLC now owns 3,823 shares of the company’s stock worth $1,197,000 after purchasing an additional 39 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its holdings in shares of Royal Caribbean Cruises by 55.2% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 2,549 shares of the company’s stock worth $798,000 after purchasing an additional 907 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in shares of Royal Caribbean Cruises by 7.4% during the second quarter. DAVENPORT & Co LLC now owns 1,758 shares of the company’s stock worth $550,000 after purchasing an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 16,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $311.02, for a total transaction of $4,976,320.00. Following the completion of the sale, the director directly owned 150,291 shares in the company, valued at approximately $46,743,506.82. This trade represents a 9.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vagn O. Sorensen sold 10,300 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $330.04, for a total transaction of $3,399,412.00. Following the sale, the director owned 16,407 shares of the company’s stock, valued at approximately $5,414,966.28. The trade was a 38.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,507 shares of company stock worth $10,091,282 over the last 90 days. Company insiders own 6.95% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $314.56 on Wednesday. The company has a quick ratio of 0.21, a current ratio of 0.23 and a debt-to-equity ratio of 1.88. The company has a market cap of $85.44 billion, a P/E ratio of 23.58, a PEG ratio of 0.89 and a beta of 2.08. Royal Caribbean Cruises Ltd. has a 52 week low of $164.01 and a 52 week high of $366.50. The company has a 50-day moving average price of $330.46 and a 200 day moving average price of $283.46.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $4.04 by $0.34. The firm had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.54 billion. Royal Caribbean Cruises had a net margin of 20.97% and a return on equity of 47.15%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.21 earnings per share. 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 predict 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. Investors of record on Thursday, September 25th will be given a $1.00 dividend. The ex-dividend date is Thursday, September 25th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.75. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. Royal Caribbean Cruises’s payout ratio is 29.99%.

Wall Street Analysts Forecast Growth

RCL has been the topic of several research reports. Bank of America raised their price objective on Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. William Blair reiterated an “outperform” rating on shares of Royal Caribbean Cruises in a research note on Wednesday, July 23rd. Sanford C. Bernstein increased their target price on shares of Royal Caribbean Cruises from $290.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Barclays increased their target price on shares of Royal Caribbean Cruises from $263.00 to $358.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 9th. Finally, Citigroup increased their target price on shares of Royal Caribbean Cruises from $390.00 to $399.00 and gave the stock a “buy” rating in a research note 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $326.95.

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.