Royal Caribbean Cruises Ltd. (NYSE:RCL) Position Cut by Brass Tax Wealth Management Inc.

Brass Tax Wealth Management Inc. trimmed its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 23.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,510 shares of the company’s stock after selling 780 shares during the quarter. Brass Tax Wealth Management Inc.’s holdings in Royal Caribbean Cruises were worth $445,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RCL. Plato Investment Management Ltd bought a new stake in shares of Royal Caribbean Cruises during the third quarter valued at about $26,000. Unique Wealth Strategies LLC acquired a new position in Royal Caribbean Cruises during the second quarter worth about $27,000. Safe Harbor Fiduciary LLC acquired a new position in Royal Caribbean Cruises during the third quarter worth about $27,000. DiNuzzo Private Wealth Inc. grew its holdings in Royal Caribbean Cruises by 257.4% during the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after acquiring an additional 121 shares during the period. Finally, LRI Investments LLC acquired a new position in Royal Caribbean Cruises during the third quarter worth about $31,000. 87.53% of the stock is currently owned by institutional investors.

Insider Activity

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 completion of the sale, the director now directly owns 18,556,860 shares in the company, valued at $4,335,253,633.20. This represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard D. Fain sold 25,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the completion of the sale, the director now owns 204,521 shares of the company’s stock, valued at $42,953,500.42. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 404,332 shares of company stock valued at $94,299,521 over the last 90 days. 7.95% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on RCL. Tigress Financial lifted their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Macquarie lifted their target price on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price target on Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Bank of America lifted their price target on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $237.13.

Royal Caribbean Cruises Stock Performance

Shares of RCL traded up $0.08 on Friday, reaching $244.23. 316,390 shares of the stock traded hands, compared to its average volume of 2,319,385. The firm has a market cap of $65.67 billion, a price-to-earnings ratio of 25.09, a P/E/G ratio of 0.65 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises Ltd. has a 12 month low of $113.10 and a 12 month high of $258.70. The stock’s 50-day moving average price is $221.05 and its 200-day moving average price is $181.23.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the business posted $3.85 earnings per share. Royal Caribbean Cruises’s quarterly revenue was up 17.5% on a year-over-year basis. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 EPS 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. Stockholders of record on Friday, December 27th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 16.44%.

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.