Apollon Wealth Management LLC Acquires 1,038 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Apollon Wealth Management LLC lifted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 22.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,578 shares of the company's stock after acquiring an additional 1,038 shares during the quarter. Apollon Wealth Management LLC's holdings in Royal Caribbean Cruises were worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in RCL. Geode Capital Management LLC increased its position in shares of Royal Caribbean Cruises by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock worth $1,373,856,000 after purchasing an additional 353,893 shares in the last quarter. Revisor Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises during the first quarter valued at $1,525,000. Dorsey Wright & Associates purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at $4,221,000. Groupama Asset Managment purchased a new stake in Royal Caribbean Cruises in the fourth quarter valued at $1,122,000. Finally, Brown Miller Wealth Management LLC purchased a new stake in Royal Caribbean Cruises in the first quarter valued at $266,000. Institutional investors and hedge funds 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 19,600 shares of Royal Caribbean Cruises stock in a transaction on Monday, May 19th. The stock was sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the completion of the sale, the director directly owned 165,421 shares of the company's stock, valued at $41,868,055.10. The trade was a 10.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.95% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Truist Financial upped their price target on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a report on Monday, May 19th. Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday, April 21st. Northcoast Research began coverage on shares of Royal Caribbean Cruises in a research report on Friday, April 25th. They issued a "buy" rating and a $279.00 price target on the stock. Citigroup reissued a "buy" rating and issued a $390.00 price target (up from $318.00) on shares of Royal Caribbean Cruises in a report on Wednesday. Finally, UBS Group set a $311.00 target price on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a research report on Tuesday, May 20th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $297.50.

Royal Caribbean Cruises Trading Up 2.8%

Shares of Royal Caribbean Cruises stock opened at $348.60 on Friday. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $349.16. The firm has a market cap of $94.67 billion, a PE ratio of 28.95, a P/E/G ratio of 1.01 and a beta of 2.17. The stock has a fifty day moving average price of $281.66 and a 200-day moving average price of $245.25. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.18 and a quick ratio of 0.15.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued 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. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. Royal Caribbean Cruises had a return on equity of 47.89% and a net margin of 19.38%. The company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $1.77 EPS. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.86%. Royal Caribbean Cruises's payout ratio is currently 24.92%.

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.

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