Graypoint LLC Grows Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Graypoint LLC grew its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,463 shares of the company’s stock after purchasing an additional 93 shares during the period. Graypoint LLC’s holdings in Royal Caribbean Cruises were worth $337,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Plato Investment Management Ltd purchased a new stake in Royal Caribbean Cruises during the 3rd quarter worth approximately $26,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Royal Caribbean Cruises during the third quarter worth $27,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Royal Caribbean Cruises by 257.4% during the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after buying an additional 121 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $40,000. Finally, LRI Investments LLC acquired a new stake in Royal Caribbean Cruises during the 3rd quarter worth about $31,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Analysts Set New Price Targets

RCL has been the topic of a number of research reports. Citigroup increased their price objective on Royal Caribbean Cruises from $257.00 to $283.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Tigress Financial lifted their price objective on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their price objective on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Truist Financial boosted their target price on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, JPMorgan Chase & Co. increased their price target on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Three 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, the company has an average rating of “Moderate Buy” and a consensus price target of $243.25.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $226.81 on Monday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. The stock has a market capitalization of $60.98 billion, a PE ratio of 23.31, a P/E/G ratio of 0.65 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a fifty-two week low of $113.10 and a fifty-two week high of $258.70. The company has a fifty day moving average of $235.82 and a two-hundred day moving average of $193.58.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the company posted $3.85 EPS. Royal Caribbean Cruises’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Friday, December 27th. Royal Caribbean Cruises’s payout ratio is 22.61%.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, 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 sale, the executive vice president now owns 22,348 shares in the company, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the transaction, the chief accounting officer now owns 9,964 shares in the company, valued at approximately $2,077,593.64. This represents a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 404,332 shares of company stock worth $94,299,521. Corporate insiders own 7.95% of the company’s stock.

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.