Miracle Mile Advisors LLC Lowers Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Miracle Mile Advisors LLC decreased its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 25.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,131 shares of the company’s stock after selling 377 shares during the period. Miracle Mile Advisors LLC’s holdings in Royal Caribbean Cruises were worth $232,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RCL. Norges Bank purchased a new position in Royal Caribbean Cruises in the fourth quarter worth $707,833,000. Vanguard Group Inc. lifted its stake in shares of Royal Caribbean Cruises by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company’s stock valued at $6,476,003,000 after purchasing an additional 2,068,114 shares during the period. GAMMA Investing LLC lifted its stake in shares of Royal Caribbean Cruises by 22,154.9% in the first quarter. GAMMA Investing LLC now owns 1,410,962 shares of the company’s stock valued at $289,868,000 after purchasing an additional 1,404,622 shares during the period. Janus Henderson Group PLC boosted its holdings in Royal Caribbean Cruises by 3,544.4% during the fourth quarter. Janus Henderson Group PLC now owns 963,034 shares of the company’s stock worth $222,166,000 after buying an additional 936,609 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Royal Caribbean Cruises by 24.0% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,653,258 shares of the company’s stock worth $612,080,000 after buying an additional 513,702 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. UBS Group set a $311.00 price target on Royal Caribbean Cruises and gave the stock a “buy” rating in a report on Tuesday, May 20th. Citigroup boosted their target price on Royal Caribbean Cruises from $268.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, June 5th. Barclays boosted their price objective on shares of Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Loop Capital restated a “buy” rating and set a $290.00 target price (up from $250.00) on shares of Royal Caribbean Cruises in a report on Tuesday, June 3rd. Finally, Morgan Stanley lifted their target price on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.90.

Insider Activity

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was 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 of the company’s stock, valued at $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 6.95% of the company’s stock.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $267.69 on Thursday. The company has a market cap of $72.69 billion, a P/E ratio of 25.04, a P/E/G ratio of 0.90 and a beta of 2.14. The firm’s 50 day moving average is $229.03 and its two-hundred day moving average is $233.71. Royal Caribbean Cruises Ltd. has a fifty-two week low of $130.08 and a fifty-two week high of $279.89. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the business earned $1.77 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.12%. Royal Caribbean Cruises’s payout ratio is currently 24.92%.

Royal Caribbean Cruises declared that its board has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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.