Royal Caribbean Cruises Ltd. (NYSE:RCL) Stock Holdings Boosted by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC recently increased its stake in Royal Caribbean Cruises Ltd. by 12.0%, owning 8,455 shares valued at approximately $1.74 million after purchasing an additional 903 shares.
• Royal Caribbean Cruises reported a record earnings per share of $4.38 for the last quarter, exceeding expectations by $0.34, with a year-over-year revenue increase of 10.4%.
• Institutional ownership of Royal Caribbean Cruises stands at 87.53%, indicating strong confidence from large investors in the company's prospects.

HB Wealth Management LLC increased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 12.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,455 shares of the company's stock after buying an additional 903 shares during the quarter. HB Wealth Management LLC's holdings in Royal Caribbean Cruises were worth $1,737,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RCL. Financial Gravity Asset Management Inc. purchased a new position in shares of Royal Caribbean Cruises in the 1st quarter worth about $25,000. Hughes Financial Services LLC acquired a new stake in Royal Caribbean Cruises during the 1st quarter worth approximately $26,000. Brown Brothers Harriman & Co. raised its holdings 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 buying an additional 99 shares during the period. Optimum Investment Advisors acquired a new position in Royal Caribbean Cruises during the first quarter valued at approximately $31,000. Finally, Fourth Dimension Wealth LLC acquired a new position in Royal Caribbean Cruises during the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Insiders Place Their Bets

In other news, Director Richard D. Fain sold 19,600 shares of the firm's 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 transaction, the director directly owned 165,421 shares in the company, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.95% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RCL has been the subject of several recent research reports. Barclays increased their price objective on shares of Royal Caribbean Cruises from $263.00 to $358.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Loop Capital reiterated a "buy" rating and issued a $290.00 price target (up from $250.00) on shares of Royal Caribbean Cruises in a report on Tuesday, June 3rd. Truist Financial set a $337.00 price objective on Royal Caribbean Cruises in a research report on Wednesday. UBS Group set a $311.00 price objective on Royal Caribbean Cruises and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Finally, Morgan Stanley increased their target price on 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. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $321.10.

Royal Caribbean Cruises Stock Down 1.5%

Shares of RCL stock traded down $4.65 during trading hours on Friday, hitting $313.22. 1,486,497 shares of the company were exchanged, compared to its average volume of 2,573,981. The stock has a market capitalization of $85.06 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 0.93 and a beta of 2.17. Royal Caribbean Cruises Ltd. has a one year low of $130.08 and a one year high of $355.91. The business's 50-day simple moving average is $301.16 and its two-hundred day simple moving average is $253.21. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.15 and a current ratio of 0.23.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $4.38 EPS for the quarter, topping analysts' consensus estimates of $4.04 by $0.34. The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.54 billion. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%. Royal Caribbean Cruises's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.21 EPS. Sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.0%. Royal Caribbean Cruises's payout ratio is 22.49%.

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.