Forte Capital LLC ADV Takes Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Forte Capital LLC ADV purchased a new stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,443 shares of the company's stock, valued at approximately $502,000.

Several other hedge funds have also modified their holdings of the stock. Financial Gravity Asset Management Inc. bought a new position in Royal Caribbean Cruises in the first quarter valued at approximately $25,000. Hughes Financial Services LLC bought a new position in Royal Caribbean Cruises in the first quarter valued at approximately $26,000. Brown Brothers Harriman & Co. boosted its stake in Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. Optimum Investment Advisors bought a new position in Royal Caribbean Cruises in the first quarter valued at approximately $31,000. Finally, Fourth Dimension Wealth LLC bought a new position in Royal Caribbean Cruises in the fourth quarter valued at approximately $35,000. 87.53% of the stock is owned by institutional investors.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction dated 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 owned 165,421 shares of the company's stock, valued at $41,868,055.10. This trade represents a 10.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.95% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on RCL. Macquarie reduced their price objective on shares of 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 objective on shares of Royal Caribbean Cruises and gave the company a "buy" rating in a research note on Tuesday, May 20th. The Goldman Sachs Group reduced their price target on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Sanford C. Bernstein lifted their price target on shares of Royal Caribbean Cruises from $290.00 to $360.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Truist Financial lifted their price target on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and an average price target of $297.50.

Royal Caribbean Cruises Stock Up 0.6%

RCL stock traded up $1.94 during midday trading on Friday, hitting $350.45. The company's stock had a trading volume of 1,464,567 shares, compared to its average volume of 2,356,065. 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 Ltd. has a twelve month low of $130.08 and a twelve month high of $352.45. The company's fifty day moving average price is $281.66 and its 200 day moving average price is $245.25. The stock has a market capitalization of $95.17 billion, a P/E ratio of 29.11, a PEG ratio of 1.03 and a beta of 2.17.

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 the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the business earned $1.77 EPS. The company's revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.86%. Royal Caribbean Cruises's dividend payout ratio (DPR) 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.