Private Advisory Group LLC Sells 5,261 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Private Advisory Group LLC reduced its stake in Royal Caribbean Cruises Ltd. by 41.5%, selling 5,261 shares, while retaining 7,431 shares valued at approximately $1.53 million.
• Royal Caribbean Cruises recently reported earnings of $4.38 per share, exceeding analysts' expectations and marking a 10.4% year-over-year revenue increase to $4.54 billion.
• Analysts are optimistic, with the stock receiving ratings ranging from "buy" to "strong buy", and a consensus price target of $321.10.

Private Advisory Group LLC lowered its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 41.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,431 shares of the company's stock after selling 5,261 shares during the period. Private Advisory Group LLC's holdings in Royal Caribbean Cruises were worth $1,527,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Financial Gravity Asset Management Inc. acquired a new stake in Royal Caribbean Cruises during the 1st quarter worth $25,000. Hughes Financial Services LLC acquired a new stake in Royal Caribbean Cruises during the 1st quarter worth $26,000. Brown Brothers Harriman & Co. grew its holdings in Royal Caribbean Cruises by 618.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after acquiring an additional 99 shares during the period. Optimum Investment Advisors acquired a new stake in Royal Caribbean Cruises during the 1st quarter worth $31,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in Royal Caribbean Cruises during the 4th quarter worth $35,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 5,207 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $329.47, for a total value of $1,715,550.29. Following the transaction, the chief accounting officer directly owned 7,826 shares of the company's stock, valued at $2,578,432.22. This represents a 39.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction that occurred on 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 sale, the director owned 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 disclosure for this sale can be found here. 6.95% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RCL has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Bank of America lifted their price target on shares of Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price target on shares of Royal Caribbean Cruises from $302.00 to $367.00 and gave the stock an "overweight" rating in a research report on Wednesday. UBS Group set a $311.00 price target on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, Citigroup boosted their price objective on shares of Royal Caribbean Cruises from $390.00 to $399.00 and gave the company a "buy" rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Royal Caribbean Cruises has a consensus rating of "Moderate Buy" and an average price target of $321.10.

Royal Caribbean Cruises Stock Down 1.2%

NYSE:RCL traded down $3.75 on Friday, hitting $314.12. 2,827,375 shares of the company's stock were exchanged, compared to its average volume of 2,165,557. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.23 and a quick ratio of 0.15. The firm has a 50-day moving average price of $302.63 and a 200-day moving average price of $253.80. The company has a market cap of $85.32 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 0.89 and a beta of 2.22. Royal Caribbean Cruises Ltd. has a 52 week low of $130.08 and a 52 week high of $355.91.

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, beating analysts' consensus estimates of $4.04 by $0.34. The company had revenue of $4.54 billion for the quarter, compared to analysts' expectations of $4.54 billion. Royal Caribbean Cruises had a net margin of 20.97% and a return on equity of 47.15%. Royal Caribbean Cruises's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.21 EPS. As a group, analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

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

About Royal Caribbean Cruises

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.