Spirepoint Private Client LLC Sells 2,500 Shares of Royal Caribbean Cruises Ltd. $RCL

Key Points

• Spirepoint Private Client LLC reduced its stake in Royal Caribbean Cruises Ltd. by 8.8%, now holding 26,031 shares valued at approximately $8.15 million.
• Insiders have sold a total of 31,507 shares for about $10.09 million in the last ninety days, indicating significant transactions by corporate executives.
• Royal Caribbean Cruises announced a quarterly dividend increase to $1.00, up from $0.75, reflecting positive financial performance with a projected EPS guidance of 15.410-15.550 for FY 2025.

Spirepoint Private Client LLC trimmed its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 8.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 26,031 shares of the company's stock after selling 2,500 shares during the quarter. Spirepoint Private Client LLC's holdings in Royal Caribbean Cruises were worth $8,151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Revisor Wealth Management LLC bought a new stake in Royal Caribbean Cruises during the 1st quarter valued at $1,525,000. Brown Miller Wealth Management LLC bought a new stake in Royal Caribbean Cruises during the 1st quarter valued at $266,000. Florida Financial Advisors LLC raised its holdings in Royal Caribbean Cruises by 87.6% during the 1st quarter. Florida Financial Advisors LLC now owns 1,957 shares of the company's stock valued at $402,000 after buying an additional 914 shares during the last quarter. Roberts Capital Advisors LLC bought a new stake in Royal Caribbean Cruises during the 1st quarter valued at $572,000. Finally, Vanguard Group Inc. raised its holdings in Royal Caribbean Cruises by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 28,674,763 shares of the company's stock valued at $5,890,943,000 after buying an additional 602,447 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Vagn O. Sorensen sold 10,300 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $330.04, for a total transaction of $3,399,412.00. Following the sale, the director owned 16,407 shares in the company, valued at $5,414,966.28. This trade represents a 38.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Henry L. Pujol sold 5,207 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $329.47, for a total transaction of $1,715,550.29. Following the sale, the chief accounting officer owned 7,826 shares in the company, valued at approximately $2,578,432.22. The trade was a 39.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,507 shares of company stock valued at $10,091,282. 6.95% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RCL shares. Susquehanna reiterated a "positive" rating and set a $385.00 price target (up from $275.00) on shares of Royal Caribbean Cruises in a report on Wednesday, July 30th. Loop Capital reissued a "buy" rating and set a $290.00 price objective (up from $250.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, June 3rd. 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, July 30th. TD Cowen started coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, July 22nd. They set a "buy" rating and a $405.00 price objective on the stock. Finally, William Blair reissued an "outperform" rating on shares of Royal Caribbean Cruises in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of "Moderate Buy" and an average target price of $326.95.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock opened at $326.50 on Friday. Royal Caribbean Cruises Ltd. has a one year low of $164.01 and a one year high of $366.50. The company's 50-day moving average is $334.54 and its 200 day moving average is $277.81. The company has a market capitalization of $88.69 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 0.91 and a beta of 2.12. 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 (NYSE:RCL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.04 by $0.34. The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.21 EPS. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. Sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 13th. Investors of record on Thursday, September 25th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $4.00 annualized dividend and a yield of 1.2%. This is a positive change from Royal Caribbean Cruises's previous quarterly dividend of $0.75. Royal Caribbean Cruises's payout ratio is currently 29.99%.

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.

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