Pitti Group Wealth Management LLC Has $242,000 Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Pitti Group Wealth Management LLC lowered its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 55.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,179 shares of the company's stock after selling 1,447 shares during the quarter. Pitti Group Wealth Management LLC's holdings in Royal Caribbean Cruises were worth $242,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RCL. Brighton Jones LLC boosted its position in Royal Caribbean Cruises by 12.2% during the 4th quarter. Brighton Jones LLC now owns 1,312 shares of the company's stock worth $303,000 after acquiring an additional 143 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in Royal Caribbean Cruises by 3.0% during the 4th quarter. Stratos Wealth Partners LTD. now owns 5,861 shares of the company's stock worth $1,352,000 after acquiring an additional 171 shares during the last quarter. Stratos Wealth Advisors LLC boosted its position in Royal Caribbean Cruises by 9.8% during the 4th quarter. Stratos Wealth Advisors LLC now owns 2,317 shares of the company's stock worth $535,000 after acquiring an additional 207 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Royal Caribbean Cruises by 29.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,902 shares of the company's stock worth $5,795,000 after acquiring an additional 5,735 shares during the last quarter. Finally, Choreo LLC boosted its position in Royal Caribbean Cruises by 3.8% during the 4th quarter. Choreo LLC now owns 8,778 shares of the company's stock worth $2,041,000 after acquiring an additional 324 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company's stock.

Analyst Ratings Changes

RCL has been the topic of a number of analyst reports. Truist Financial upped their price objective on Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Jefferies Financial Group initiated coverage on Royal Caribbean Cruises in a research note on Monday, March 31st. They set a "hold" rating and a $230.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Stifel Nicolaus increased their price target on Royal Caribbean Cruises from $275.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Tigress Financial increased their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Royal Caribbean Cruises presently has an average rating of "Moderate Buy" and a consensus target price of $276.90.

Insider Transactions at Royal Caribbean Cruises

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

Royal Caribbean Cruises Stock Performance

RCL stock traded up $5.14 during trading hours on Friday, hitting $276.54. 1,945,050 shares of the stock were exchanged, compared to its average volume of 2,276,009. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $75.10 billion, a P/E ratio of 25.87, a P/E/G ratio of 0.90 and a beta of 2.14. The company has a 50-day simple moving average of $224.35 and a two-hundred day simple moving average of $233.05. Royal Caribbean Cruises Ltd. has a 12 month low of $130.08 and a 12 month high of $277.08.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.18. The firm had revenue of $4 billion for the quarter, compared to analysts' expectations of $4.02 billion. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.77 EPS. On average, analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.08%. Royal Caribbean Cruises's dividend payout ratio (DPR) is currently 24.92%.

Royal Caribbean Cruises announced that its board has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.

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.