Financial Advocates Investment Management Buys New Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Financial Advocates Investment Management bought a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,761 shares of the company's stock, valued at approximately $406,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Plato Investment Management Ltd purchased a new stake in Royal Caribbean Cruises in the third quarter worth approximately $26,000. Safe Harbor Fiduciary LLC purchased a new stake in Royal Caribbean Cruises in the third quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. boosted its stake in Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company's stock worth $30,000 after buying an additional 121 shares in the last quarter. LRI Investments LLC purchased a new stake in Royal Caribbean Cruises in the third quarter worth approximately $31,000. Finally, Bay Harbor Wealth Management LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 87.53% of the company's stock.

Royal Caribbean Cruises Stock Down 1.2 %

Shares of NYSE RCL traded down $3.29 during trading on Monday, reaching $261.14. The company had a trading volume of 1,594,970 shares, compared to its average volume of 2,345,826. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a 12-month low of $113.10 and a 12-month high of $277.08. The stock has a market cap of $70.22 billion, a PE ratio of 24.43, a P/E/G ratio of 1.00 and a beta of 2.59. The business's 50-day moving average is $242.64 and its 200 day moving average is $205.82.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same quarter in the previous year, the firm earned $1.25 EPS. As a group, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.96 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.20 annualized dividend and a dividend yield of 0.84%. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 20.58%.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total value of $53,732,600.00. Following the transaction, the director now owns 18,556,860 shares of the company's stock, valued at approximately $4,335,253,633.20. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the transaction, the executive vice president now directly owns 22,348 shares in the company, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 372,609 shares of company stock valued at $87,647,208 over the last ninety days. Insiders own 7.95% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Bank of America boosted their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. Tigress Financial boosted their price objective on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a "buy" rating in a research report on Friday. Citigroup boosted their price objective on Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an "overweight" rating in a research report on Monday, January 27th. Finally, Stifel Nicolaus boosted their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and a consensus target price of $284.12.

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.