Axxcess Wealth Management LLC Purchases 2,256 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Axxcess Wealth Management LLC boosted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 124.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,075 shares of the company's stock after acquiring an additional 2,256 shares during the period. Axxcess Wealth Management LLC's holdings in Royal Caribbean Cruises were worth $940,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RCL. Venturi Wealth Management LLC increased its holdings in shares of Royal Caribbean Cruises by 511.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company's stock valued at $498,000 after acquiring an additional 1,804 shares during the period. Park Avenue Securities LLC grew its position in shares of Royal Caribbean Cruises by 20.1% in the fourth quarter. Park Avenue Securities LLC now owns 6,630 shares of the company's stock valued at $1,530,000 after purchasing an additional 1,111 shares during the period. Sanctuary Advisors LLC raised its stake in Royal Caribbean Cruises by 76.1% during the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company's stock worth $5,142,000 after purchasing an additional 12,530 shares during the period. Lorne Steinberg Wealth Management Inc. acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at about $231,000. Finally, Principal Financial Group Inc. increased its holdings in Royal Caribbean Cruises by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 291,027 shares of the company's stock valued at $67,137,000 after purchasing an additional 7,740 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company's stock.

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Analyst Upgrades and Downgrades

RCL has been the topic of a number of research analyst reports. Citigroup increased their target price on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price target on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. StockNews.com upgraded Royal Caribbean Cruises from a "sell" rating to a "hold" rating in a report on Tuesday, November 26th. Mizuho reiterated an "outperform" rating and set a $253.00 price target (down from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Finally, Argus boosted their price objective on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $283.53.

Royal Caribbean Cruises Stock Down 0.2 %

Shares of RCL stock traded down $0.34 during trading hours on Tuesday, reaching $225.06. The company had a trading volume of 1,677,291 shares, compared to its average volume of 2,275,725. The business has a fifty day simple moving average of $239.97 and a 200-day simple moving average of $222.52. The company has a market cap of $60.57 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. Royal Caribbean Cruises Ltd. has a 12 month low of $125.06 and a 12 month high of $277.08.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same quarter in the prior year, the firm earned $1.25 earnings per share. On average, research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.55. Royal Caribbean Cruises's payout ratio is currently 28.06%.

Royal Caribbean Cruises announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Naftali Holtz sold 17,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the sale, the chief financial officer now directly owns 42,127 shares of the company's stock, valued at approximately $11,021,265.74. This represents a 28.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard D. Fain sold 19,500 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the completion of the sale, the director now owns 185,021 shares in the company, valued at $47,491,190.28. This represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,492 shares of company stock worth $28,571,705. Corporate insiders own 7.95% of the company's stock.

Royal Caribbean Cruises 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.