CoreCap Advisors LLC Reduces Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

CoreCap Advisors LLC lessened its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 34.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,812 shares of the company's stock after selling 3,610 shares during the quarter. CoreCap Advisors LLC's holdings in Royal Caribbean Cruises were worth $1,572,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in Royal Caribbean Cruises by 8.3% during the fourth quarter. Cetera Investment Advisers now owns 61,937 shares of the company's stock valued at $14,288,000 after purchasing an additional 4,770 shares during the last quarter. Centiva Capital LP bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth $975,000. Captrust Financial Advisors grew its holdings in shares of Royal Caribbean Cruises by 6.4% in the 4th quarter. Captrust Financial Advisors now owns 15,643 shares of the company's stock worth $3,609,000 after acquiring an additional 939 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $333,000. Finally, Aptus Capital Advisors LLC lifted its holdings in shares of Royal Caribbean Cruises by 6.7% during the fourth quarter. Aptus Capital Advisors LLC now owns 1,748 shares of the company's stock valued at $404,000 after purchasing an additional 110 shares during the last quarter. Institutional investors own 87.53% of the company's stock.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,500 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the sale, the director now owns 185,021 shares in the company, valued at approximately $47,491,190.28. This represents a 9.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Naftali Holtz sold 17,000 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total value of $4,447,540.00. Following the completion of the sale, the chief financial officer now owns 42,127 shares in the company, valued at $11,021,265.74. The trade was a 28.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,492 shares of company stock worth $28,571,705 in the last 90 days. Company insiders own 7.95% of the company's stock.

Royal Caribbean Cruises Price Performance

Shares of RCL stock traded up $8.97 during trading on Monday, hitting $242.23. The company had a trading volume of 2,560,224 shares, compared to its average volume of 2,304,493. The stock's 50-day moving average is $208.59 and its two-hundred day moving average is $228.54. The stock has a market capitalization of $65.78 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 0.90 and a beta of 2.12. Royal Caribbean Cruises Ltd. has a 52 week low of $130.08 and a 52 week high of $277.08. 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 - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $4.02 billion. During the same period last year, the firm earned $1.77 earnings per share. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Royal Caribbean Cruises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.24%. Royal Caribbean Cruises's payout ratio is presently 24.92%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Loop Capital upgraded shares of Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 target price for the company in a report on Wednesday, March 5th. Mizuho reissued an "outperform" rating and set a $253.00 price target (down from $255.00) on shares of Royal Caribbean Cruises in a research report on Thursday, January 23rd. UBS Group lifted their target price on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Jefferies Financial Group assumed coverage on shares of Royal Caribbean Cruises in a research report on Monday, March 31st. They issued a "hold" rating and a $230.00 price target for the company. Finally, The Goldman Sachs Group cut their target price on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $271.30.

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.