LeConte Wealth Management LLC Invests $246,000 in Royal Caribbean Cruises Ltd. $RCL

Key Points

• LeConte Wealth Management LLC has invested approximately $246,000 in Royal Caribbean Cruises Ltd. by acquiring 784 shares during the second quarter.
• Royal Caribbean Cruises recently announced an increase in its quarterly dividend from $0.75 to $1.00 per share, effective October 13, representing an annualized yield of 1.2%.
• Multiple analysts have raised their price targets for Royal Caribbean Cruises, with estimates ranging from $355.00 to $399.00 per share, reflecting overall positive sentiment about the company's future.

LeConte Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 784 shares of the company's stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC increased its position in Royal Caribbean Cruises by 222.2% during the 2nd quarter. TD Private Client Wealth LLC now owns 2,362 shares of the company's stock worth $740,000 after purchasing an additional 1,629 shares in the last quarter. Carr Financial Group Corp purchased a new stake in Royal Caribbean Cruises during the 2nd quarter worth about $222,000. Public Employees Retirement System of Ohio increased its position in Royal Caribbean Cruises by 7.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 78,664 shares of the company's stock worth $24,633,000 after purchasing an additional 5,653 shares in the last quarter. Ballentine Partners LLC increased its position in Royal Caribbean Cruises by 9.4% during the 2nd quarter. Ballentine Partners LLC now owns 5,408 shares of the company's stock worth $1,693,000 after purchasing an additional 463 shares in the last quarter. Finally, Cigna Investments Inc. New increased its position in Royal Caribbean Cruises by 3.5% during the 2nd quarter. Cigna Investments Inc. New now owns 2,511 shares of the company's stock worth $787,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on RCL. Susquehanna reiterated a "positive" rating and set a $385.00 price objective (up previously from $275.00) on shares of Royal Caribbean Cruises in a research report on Wednesday, July 30th. Bank of America lifted their price objective on Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein lifted their price target on Royal Caribbean Cruises from $290.00 to $360.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Barclays lifted their price target on Royal Caribbean Cruises from $263.00 to $358.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Finally, Citigroup lifted their price target on Royal Caribbean Cruises from $390.00 to $399.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $326.95.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Vagn O. Sorensen sold 10,300 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $330.04, for a total transaction of $3,399,412.00. Following the completion of the sale, the director owned 16,407 shares in the company, valued at approximately $5,414,966.28. The trade was a 38.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard D. Fain sold 16,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $311.02, for a total value of $4,976,320.00. Following the completion of the transaction, the director owned 150,291 shares of the company's stock, valued at approximately $46,743,506.82. This represents a 9.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,507 shares of company stock worth $10,091,282. 6.95% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Stock Down 0.9%

Shares of NYSE:RCL opened at $327.51 on Thursday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.21 and a current ratio of 0.23. Royal Caribbean Cruises Ltd. has a 1 year low of $164.01 and a 1 year high of $366.50. The stock has a market capitalization of $88.96 billion, a P/E ratio of 24.55, a PEG ratio of 0.93 and a beta of 2.12. The stock has a 50-day simple moving average of $335.49 and a 200-day simple moving average of $276.17.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.04 by $0.34. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%.The business had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter in the previous year, the business earned $3.21 EPS. The company's revenue for the quarter was up 10.4% on a year-over-year basis. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 13th. Stockholders of record on Thursday, September 25th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, September 25th. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.75. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 29.99%.

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.

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