Envestnet Portfolio Solutions Inc. Sells 3,402 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Envestnet Portfolio Solutions Inc. reduced its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 41.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,824 shares of the company's stock after selling 3,402 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Royal Caribbean Cruises were worth $991,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in Royal Caribbean Cruises by 12.2% in the fourth quarter. Brighton Jones LLC now owns 1,312 shares of the company's stock worth $303,000 after purchasing an additional 143 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Royal Caribbean Cruises by 18.4% during the 4th quarter. First Horizon Advisors Inc. now owns 437 shares of the company's stock worth $101,000 after buying an additional 68 shares during the period. Wealthspire Advisors LLC increased its stake in shares of Royal Caribbean Cruises by 7.8% in the 4th quarter. Wealthspire Advisors LLC now owns 2,195 shares of the company's stock valued at $506,000 after acquiring an additional 159 shares in the last quarter. Howard Capital Management Inc. increased its stake in shares of Royal Caribbean Cruises by 4.9% in the 4th quarter. Howard Capital Management Inc. now owns 1,338 shares of the company's stock valued at $309,000 after acquiring an additional 63 shares in the last quarter. Finally, FourThought Financial Partners LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at $604,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group cut their target price on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Melius Research raised shares of Royal Caribbean Cruises to a "strong-buy" rating in a research report on Monday, April 21st. Barclays raised their price target on shares of Royal Caribbean Cruises from $249.00 to $263.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Truist Financial boosted their price objective on Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Finally, Northcoast Research started coverage on Royal Caribbean Cruises in a report on Friday, April 25th. They issued a "buy" rating and a $279.00 target price on the stock. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and a consensus price target of $276.90.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of the transaction, the director now directly owns 165,421 shares in the company, valued at $41,868,055.10. The trade was a 10.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.95% of the company's stock.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock traded up $3.90 during trading hours on Wednesday, reaching $284.37. The company had a trading volume of 2,784,417 shares, compared to its average volume of 2,299,636. Royal Caribbean Cruises Ltd. has a one year low of $130.08 and a one year high of $285.75. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.18 and a quick ratio of 0.15. The firm has a market cap of $77.22 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 0.81 and a beta of 2.14. The business has a fifty day simple moving average of $242.76 and a 200 day simple moving average of $234.99.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 47.89% and a net margin of 19.38%. The firm had revenue of $4 billion for 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 company's quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.05%. Royal Caribbean Cruises's dividend payout ratio is presently 24.92%.

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.