Royal Caribbean Cruises Ltd. $RCL Stock Holdings Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 28.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,166,216 shares of the company’s stock after selling 852,083 shares during the period. Bank of New York Mellon Corp owned about 0.80% of Royal Caribbean Cruises worth $700,944,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. 1 North Wealth Services LLC acquired a new position in Royal Caribbean Cruises in the second quarter worth approximately $31,000. Evolution Wealth Management Inc. bought a new stake in Royal Caribbean Cruises in the second quarter worth approximately $31,000. Trust Co. of Toledo NA OH acquired a new position in shares of Royal Caribbean Cruises during the 2nd quarter worth $32,000. Financial Gravity Companies Inc. acquired a new position in shares of Royal Caribbean Cruises during the 2nd quarter worth $38,000. Finally, Frazier Financial Advisors LLC raised its holdings in shares of Royal Caribbean Cruises by 27.1% during the 2nd quarter. Frazier Financial Advisors LLC now owns 136 shares of the company’s stock valued at $43,000 after purchasing an additional 29 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL opened at $291.98 on Thursday. Royal Caribbean Cruises Ltd. has a 12 month low of $164.01 and a 12 month high of $366.50. The company has a market cap of $79.63 billion, a P/E ratio of 19.64, a P/E/G ratio of 0.81 and a beta of 1.94. The business’s 50 day moving average is $279.45 and its two-hundred day moving average is $304.16. The company has a quick ratio of 0.14, a current ratio of 0.16 and a debt-to-equity ratio of 1.67.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $5.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.68 by $0.07. Royal Caribbean Cruises had a net margin of 23.33% and a return on equity of 44.68%. The business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter last year, the company posted $5.20 earnings per share. Royal Caribbean Cruises’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, December 26th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 26.90%.

Royal Caribbean Cruises declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 10th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Truist Financial decreased their price objective on shares of Royal Caribbean Cruises from $321.00 to $318.00 and set a “hold” rating for the company in a report on Thursday, January 22nd. Bank of America upped their price target on Royal Caribbean Cruises from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of Royal Caribbean Cruises in a research note on Friday, December 26th. Barclays dropped their price target on shares of Royal Caribbean Cruises from $342.00 to $324.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. Finally, Mizuho boosted their price objective on shares of Royal Caribbean Cruises from $378.00 to $381.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and a consensus price target of $328.76.

Insider Activity

In other news, Director Maritza Gomez Montiel sold 1,100 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $281.76, for a total transaction of $309,936.00. Following the completion of the transaction, the director owned 14,234 shares of the company’s stock, valued at approximately $4,010,571.84. This represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.95% of the company’s stock.

Royal Caribbean Cruises Profile

Royal Caribbean Cruises (NYSE: RCL), operating as part of the Royal Caribbean Group, is a global cruise company that develops, markets and operates passenger cruise ships. The company operates multiple consumer-facing cruise brands that offer short- and long-duration itineraries and a range of onboard experiences. Its core activities include itineraries and voyage operations, guest services and hospitality, onboard food and beverage, entertainment and recreation programming, and the commercial activities needed to sell and support cruises through both direct and travel‑agent channels.

Royal Caribbean’s ships serve a broad set of geographies worldwide, regularly deploying vessels in the Caribbean, North America (including Alaska), Europe, Asia, Australia and South America.