WealthTrust Asset Management LLC cut its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 22.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,716 shares of the company's stock after selling 1,686 shares during the period. Royal Caribbean Cruises makes up 0.9% of WealthTrust Asset Management LLC's holdings, making the stock its 23rd biggest holding. WealthTrust Asset Management LLC's holdings in Royal Caribbean Cruises were worth $1,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. increased its position in shares of Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Royal Caribbean Cruises during the first quarter valued at about $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at about $35,000. Optimum Investment Advisors acquired a new stake in shares of Royal Caribbean Cruises during the first quarter valued at about $31,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at about $36,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
RCL has been the subject of a number of recent analyst reports. Citigroup lifted their price target on shares of Royal Caribbean Cruises from $268.00 to $318.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Northcoast Research assumed coverage on shares of Royal Caribbean Cruises in a report on Friday, April 25th. They issued a "buy" rating and a $279.00 price objective for the company. Wall Street Zen cut shares of Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Truist Financial lifted their price objective on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, Susquehanna dropped their price objective on shares of Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating for the company in a report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises has an average rating of "Moderate Buy" and a consensus price target of $293.90.
Get Our Latest Stock Report on Royal Caribbean Cruises
Royal Caribbean Cruises Stock Down 0.8%
Shares of Royal Caribbean Cruises stock opened at $338.53 on Friday. Royal Caribbean Cruises Ltd. has a 52-week low of $130.08 and a 52-week high of $342.56. The company has a 50 day moving average of $272.55 and a 200 day moving average of $242.30. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $91.93 billion, a P/E ratio of 28.12, a P/E/G ratio of 1.01 and a beta of 2.17.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.18. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.77 earnings per share. As a group, research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.
Royal Caribbean Cruises Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.89%. Royal Caribbean Cruises's dividend payout ratio is presently 24.92%.
Insider Buying and Selling at Royal Caribbean Cruises
In other news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the completion of the sale, the director owned 165,421 shares in the company, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.95% of the company's stock.
Royal Caribbean Cruises Company Profile
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Free Report)
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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