Janney Montgomery Scott LLC Trims Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Janney Montgomery Scott LLC cut its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 7.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,952 shares of the company's stock after selling 2,808 shares during the quarter. Janney Montgomery Scott LLC's holdings in Royal Caribbean Cruises were worth $7,591,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RCL. Brighton Jones LLC raised its stake in Royal Caribbean Cruises by 12.2% in the fourth quarter. Brighton Jones LLC now owns 1,312 shares of the company's stock valued at $303,000 after buying an additional 143 shares during the last quarter. Truist Financial Corp raised its stake in Royal Caribbean Cruises by 11.1% in the fourth quarter. Truist Financial Corp now owns 26,235 shares of the company's stock valued at $6,052,000 after buying an additional 2,611 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in Royal Caribbean Cruises by 1.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 4,102 shares of the company's stock valued at $946,000 after buying an additional 72 shares during the last quarter. ING Groep NV purchased a new stake in Royal Caribbean Cruises in the fourth quarter valued at about $2,782,000. Finally, Cassaday & Co Wealth Management LLC raised its stake in Royal Caribbean Cruises by 8.8% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 2,928 shares of the company's stock valued at $676,000 after buying an additional 236 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction that occurred 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 transaction, the director now owns 165,421 shares in the company, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RCL shares. Jefferies Financial Group started coverage on Royal Caribbean Cruises in a report on Monday, March 31st. They issued a "hold" rating and a $230.00 price objective on the stock. Citigroup increased their price objective on Royal Caribbean Cruises from $268.00 to $318.00 and gave the company a "buy" rating in a report on Thursday, June 5th. The Goldman Sachs Group cut their price objective 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. Macquarie cut their price objective on Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Finally, Susquehanna cut their price objective on Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating on the stock in a report on Wednesday, April 30th. Four 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 company's stock. According to data from MarketBeat, Royal Caribbean Cruises presently has an average rating of "Moderate Buy" and a consensus target price of $276.90.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL traded up $5.06 during midday trading on Friday, hitting $272.84. The stock had a trading volume of 3,370,956 shares, compared to its average volume of 2,293,911. The company has a market capitalization of $74.09 billion, a PE ratio of 22.66, a P/E/G ratio of 0.81 and a beta of 2.14. The stock has a 50 day simple moving average of $239.38 and a 200-day simple moving average of $234.55. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $279.89. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 2.21.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.18. The business had revenue of $4 billion for 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 business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.77 earnings per share. On average, sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.10%. Royal Caribbean Cruises's payout ratio is 24.92%.

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.