Fortis Group Advisors LLC Cuts Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Fortis Group Advisors LLC lessened its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 54.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,050 shares of the company's stock after selling 1,270 shares during the period. Fortis Group Advisors LLC's holdings in Royal Caribbean Cruises were worth $216,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction dated 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 directly owned 165,421 shares in the company, valued at $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.95% of the stock is owned by insiders.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL traded up $1.94 during midday trading on Friday, reaching $350.45. 1,464,567 shares of the stock traded hands, 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. The stock has a market capitalization of $95.17 billion, a PE ratio of 29.11, a P/E/G ratio of 1.03 and a beta of 2.17. Royal Caribbean Cruises Ltd. has a one year low of $130.08 and a one year high of $352.45. The company's 50 day moving average is $281.66 and its 200 day moving average is $245.25.

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, topping analysts' consensus estimates of $2.53 by $0.18. The company 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%. Royal Caribbean Cruises's revenue was up 7.3% on a year-over-year basis. During the same period last year, the company earned $1.77 earnings per share. On average, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

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

Analyst Upgrades and Downgrades

RCL has been the topic of a number of analyst reports. Barclays upped their target price on shares of Royal Caribbean Cruises from $263.00 to $358.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Loop Capital reaffirmed a "buy" rating and set a $290.00 price objective (up from $250.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, June 3rd. Wall Street Zen lowered shares of Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Stifel Nicolaus upped their target price on shares of Royal Caribbean Cruises from $310.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Citigroup restated a "buy" rating and issued a $390.00 price objective (up from $318.00) on shares of Royal Caribbean Cruises in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Royal Caribbean Cruises has a consensus rating of "Moderate Buy" and a consensus target price of $297.50.

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.