Axxcess Wealth Management LLC Reduces Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Axxcess Wealth Management LLC lowered its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 68.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,297 shares of the company's stock after selling 2,778 shares during the period. Axxcess Wealth Management LLC's holdings in Royal Caribbean Cruises were worth $266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Capital International Investors grew its position in shares of Royal Caribbean Cruises by 0.9% in the 4th quarter. Capital International Investors now owns 29,712,610 shares of the company's stock valued at $6,854,905,000 after buying an additional 278,860 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Royal Caribbean Cruises by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company's stock valued at $6,476,003,000 after purchasing an additional 2,068,114 shares during the period. Geode Capital Management LLC lifted its stake in shares of Royal Caribbean Cruises by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock valued at $1,373,856,000 after purchasing an additional 353,893 shares during the period. Norges Bank acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at about $707,833,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Royal Caribbean Cruises by 21.8% in the 1st quarter. Bank of New York Mellon Corp now owns 2,991,079 shares of the company's stock valued at $614,487,000 after purchasing an additional 535,043 shares during the period. Institutional investors own 87.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RCL shares. Truist Financial boosted their price objective on Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a research note on Monday, May 19th. 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. Barclays boosted their price objective on Royal Caribbean Cruises from $263.00 to $358.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Jefferies Financial Group boosted their price objective on Royal Caribbean Cruises from $235.00 to $315.00 and gave the company a "hold" rating in a research note on Monday, July 7th. Finally, Macquarie dropped their price target on Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $297.50.

Royal Caribbean Cruises Stock Up 2.8%

Shares of Royal Caribbean Cruises stock traded up $9.37 on Thursday, hitting $348.60. The company had a trading volume of 1,944,704 shares, compared to its average volume of 2,356,812. The stock has a market capitalization of $94.67 billion, a price-to-earnings ratio of 28.95, a P/E/G ratio of 1.01 and a beta of 2.17. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $348.73. The stock has a 50 day moving average of $281.66 and a 200-day moving average of $245.25. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.15 and a current ratio of 0.18.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.53 by $0.18. The firm had revenue of $4 billion during 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 company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.77 earnings per share. As a group, sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.86%. Royal Caribbean Cruises's dividend payout ratio is presently 24.92%.

Insider Activity

In other news, Director Richard D. Fain sold 19,600 shares of the company'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 completion of the transaction, the director directly owned 165,421 shares of the company's stock, valued at $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.95% of the stock is currently owned by corporate insiders.

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.