Brown Miller Wealth Management LLC Invests $266,000 in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Brown Miller Wealth Management LLC acquired a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,297 shares of the company's stock, valued at approximately $266,000.

Several other institutional investors also recently modified their holdings of RCL. Exchange Traded Concepts LLC boosted its position in Royal Caribbean Cruises by 480.0% in the first quarter. Exchange Traded Concepts LLC now owns 2,413 shares of the company's stock valued at $496,000 after buying an additional 1,997 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in Royal Caribbean Cruises by 197.3% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 33,787 shares of the company's stock valued at $6,941,000 after acquiring an additional 22,423 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Royal Caribbean Cruises by 26.7% in the 1st quarter. Sound Income Strategies LLC now owns 380 shares of the company's stock worth $78,000 after purchasing an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Royal Caribbean Cruises by 3.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,640 shares of the company's stock valued at $3,624,000 after acquiring an additional 554 shares during the last quarter. Finally, New England Research & Management Inc. bought a new stake in Royal Caribbean Cruises in the first quarter valued at approximately $719,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Insider Activity

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the director now owns 165,421 shares of the company's stock, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.95% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BNP Paribas began coverage on Royal Caribbean Cruises in a report on Thursday, March 27th. They set an "outperform" rating and a $262.00 price objective on the stock. Morgan Stanley raised their target price on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Macquarie dropped their price objective on Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. UBS Group set a $311.00 price target on shares of Royal Caribbean Cruises and gave the company a "buy" rating in a research note on Tuesday, May 20th. Finally, The Goldman Sachs Group cut their price objective 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 equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $276.90.

Royal Caribbean Cruises Price Performance

Shares of RCL stock traded down $2.29 during trading hours on Tuesday, reaching $262.42. The company's stock had a trading volume of 1,365,490 shares, compared to its average volume of 2,282,828. 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. The firm's 50 day simple moving average is $234.03 and its 200-day simple moving average is $234.01. The company has a market capitalization of $71.26 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 0.90 and a beta of 2.14.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.18. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.02 billion. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. Royal Caribbean Cruises's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $1.77 EPS. Sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share 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 paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.14%. Royal Caribbean Cruises's dividend payout ratio is 24.92%.

Royal Caribbean Cruises Company 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.