Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by RFG Advisory LLC

RFG Advisory LLC lowered its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.9% in the first quarter, Holdings Channel reports. The institutional investor owned 1,508 shares of the company’s stock after selling 61 shares during the period. RFG Advisory LLC’s holdings in Royal Caribbean Cruises were worth $310,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in shares of Royal Caribbean Cruises in the first quarter valued at about $510,000. Czech National Bank lifted its position in Royal Caribbean Cruises by 6.0% in the first quarter. Czech National Bank now owns 56,869 shares of the company’s stock valued at $11,683,000 after purchasing an additional 3,235 shares during the period. Rhumbline Advisers lifted its position in Royal Caribbean Cruises by 4.7% in the first quarter. Rhumbline Advisers now owns 472,714 shares of the company’s stock valued at $97,114,000 after purchasing an additional 21,311 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in Royal Caribbean Cruises by 4.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,461 shares of the company’s stock valued at $506,000 after purchasing an additional 101 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in Royal Caribbean Cruises by 8.0% during the 1st quarter. Parallel Advisors LLC now owns 2,899 shares of the company’s stock worth $596,000 after purchasing an additional 215 shares during the period. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Buying and Selling

In related news, Director Richard D. Fain sold 19,600 shares of the firm’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 sale, the director now owns 165,421 shares in the company, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.95% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Stock Up 1.9%

RCL stock opened at $276.54 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The company’s 50 day simple moving average is $224.35 and its 200-day simple moving average is $233.03. Royal Caribbean Cruises Ltd. has a 12 month low of $130.08 and a 12 month high of $277.08. The firm has a market capitalization of $75.10 billion, a PE ratio of 25.87, a P/E/G ratio of 0.90 and a beta of 2.14.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates 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%. Royal Caribbean Cruises’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.77 EPS. Equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 1.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Royal Caribbean Cruises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.08%. Royal Caribbean Cruises’s dividend payout ratio is presently 24.92%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Truist Financial increased their target price 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. Stifel Nicolaus increased their price objective on Royal Caribbean Cruises from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley raised their target price on Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Citigroup upped their price target on shares of Royal Caribbean Cruises from $268.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Loop Capital reiterated a “buy” rating and issued a $290.00 price target (up previously from $250.00) on shares of Royal Caribbean Cruises in a report on Tuesday, June 3rd. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $276.90.

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.