Oddo BHF Asset Management Sas Purchases New Shares in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Oddo BHF Asset Management Sas acquired a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,160 shares of the company’s stock, valued at approximately $1,447,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RCL. D1 Capital Partners L.P. lifted its stake in shares of Royal Caribbean Cruises by 105.7% in the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock worth $241,075,000 after acquiring an additional 777,103 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Royal Caribbean Cruises by 10,599.0% in the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock valued at $72,696,000 after purchasing an additional 406,048 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Royal Caribbean Cruises by 24.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock valued at $326,616,000 after buying an additional 400,565 shares during the last quarter. Forest Avenue Capital Management LP acquired a new stake in shares of Royal Caribbean Cruises during the second quarter worth approximately $35,038,000. Finally, Teachers Retirement System of The State of Kentucky increased its stake in shares of Royal Caribbean Cruises by 809.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company’s stock worth $27,601,000 after buying an additional 154,090 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL opened at $245.26 on Friday. Royal Caribbean Cruises Ltd. has a 12-month low of $113.10 and a 12-month high of $258.70. The company has a market cap of $65.94 billion, a PE ratio of 25.21, a P/E/G ratio of 0.65 and a beta of 2.59. The stock has a 50 day simple moving average of $222.37 and a 200-day simple moving average of $181.90. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the business posted $3.85 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Citigroup boosted their target price on shares of Royal Caribbean Cruises from $257.00 to $283.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company boosted their price objective on Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Stifel Nicolaus increased their target price on Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Sanford C. Bernstein started coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $239.75.

Insider Activity

In related news, EVP Harri U. Kulovaara sold 3,256 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the sale, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. The trade was a 12.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Henry L. Pujol sold 6,723 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 9,964 shares of the company’s stock, valued at $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. Insiders sold a total of 404,332 shares of company stock worth $94,299,521 over the last 90 days. 7.95% of the stock is currently owned by company insiders.

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.