Royal Caribbean Cruises Ltd. (NYSE:RCL) Position Decreased by Pitti Group Wealth Management LLC

Pitti Group Wealth Management LLC lowered its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 55.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,179 shares of the company’s stock after selling 1,447 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in Royal Caribbean Cruises were worth $242,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Brown Brothers Harriman & Co. boosted its holdings in Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after buying an additional 99 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $35,000. Truvestments Capital LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth $36,000. Capital A Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter worth $40,000. Finally, Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Royal Caribbean Cruises by 100.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company’s stock worth $46,000 after acquiring an additional 100 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of the firm’s stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.95% of the company’s stock.

Royal Caribbean Cruises Price Performance

RCL opened at $276.54 on Friday. The stock has a fifty day moving average price of $224.35 and a 200 day moving average price of $233.05. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $277.08. The stock has a market cap of $75.10 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 0.90 and a beta of 2.14.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.18. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $1.77 EPS. Analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 1.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Royal Caribbean Cruises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.08%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 24.92%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RCL shares. The Goldman Sachs Group decreased their price target on Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Northcoast Research began coverage on shares of Royal Caribbean Cruises in a report on Friday, April 25th. They issued a “buy” rating and a $279.00 target price for the company. Morgan Stanley lifted their target price on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Jefferies Financial Group initiated coverage on shares of Royal Caribbean Cruises in a research report on Monday, March 31st. They issued a “hold” rating and a $230.00 price target for the company. Finally, BNP Paribas started coverage on shares of Royal Caribbean Cruises in a research report on Thursday, March 27th. They set an “outperform” rating and a $262.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $276.90.

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.