Sound Income Strategies LLC Sells 186 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Sound Income Strategies LLC decreased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 38.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 300 shares of the company’s stock after selling 186 shares during the period. Sound Income Strategies LLC’s holdings in Royal Caribbean Cruises were worth $69,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RCL. Plato Investment Management Ltd acquired a new stake in Royal Caribbean Cruises during the 3rd quarter worth approximately $26,000. Safe Harbor Fiduciary LLC bought a new stake in Royal Caribbean Cruises during the third quarter worth $27,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after buying an additional 121 shares during the last quarter. LRI Investments LLC bought a new position in shares of Royal Caribbean Cruises in the third quarter worth about $31,000. Finally, ORG Wealth Partners LLC acquired a new stake in Royal Caribbean Cruises in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on RCL. Sanford C. Bernstein assumed coverage on Royal Caribbean Cruises in a research note on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Citigroup raised their price objective on shares of Royal Caribbean Cruises from $257.00 to $283.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Macquarie boosted their target price on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $249.81.

Royal Caribbean Cruises Price Performance

RCL opened at $232.59 on Friday. The firm has a market cap of $62.54 billion, a P/E ratio of 23.90, a PEG ratio of 0.50 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. Royal Caribbean Cruises Ltd. has a fifty-two week low of $113.10 and a fifty-two week high of $258.70. The firm has a 50-day moving average of $237.76 and a 200 day moving average of $198.49.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.85 earnings per share. On average, research analysts expect that Royal Caribbean Cruises Ltd. will post 11.66 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were given a dividend of $0.55 per share. The ex-dividend date was Friday, December 27th. This represents a $2.20 annualized dividend and a dividend yield of 0.95%. Royal Caribbean Cruises’s dividend payout ratio is currently 22.61%.

Insider Buying and Selling

In related news, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the sale, the executive vice president now owns 22,348 shares in the company, valued at approximately $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $237.89, for a total value of $33,150,685.17. Following the transaction, the director now directly owns 18,167,507 shares of the company’s stock, valued at $4,321,868,240.23. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 404,332 shares of company stock valued at $94,299,521. Corporate insiders own 7.95% of the company’s stock.

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.