Stone Summit Wealth LLC Decreases Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Stone Summit Wealth LLC lowered its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,425 shares of the company’s stock after selling 139 shares during the quarter. Stone Summit Wealth LLC’s holdings in Royal Caribbean Cruises were worth $559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of RCL. CWM LLC increased its holdings in Royal Caribbean Cruises by 5.1% during the 3rd quarter. CWM LLC now owns 10,431 shares of the company’s stock worth $1,850,000 after purchasing an additional 510 shares during the period. Valeo Financial Advisors LLC increased its stake in shares of Royal Caribbean Cruises by 10.0% during the third quarter. Valeo Financial Advisors LLC now owns 3,911 shares of the company’s stock worth $694,000 after buying an additional 354 shares during the period. Exchange Traded Concepts LLC raised its holdings in Royal Caribbean Cruises by 241.5% in the third quarter. Exchange Traded Concepts LLC now owns 888 shares of the company’s stock valued at $157,000 after acquiring an additional 628 shares in the last quarter. Koshinski Asset Management Inc. lifted its stake in Royal Caribbean Cruises by 18.1% in the third quarter. Koshinski Asset Management Inc. now owns 1,562 shares of the company’s stock worth $277,000 after acquiring an additional 239 shares during the last quarter. Finally, Sound Income Strategies LLC grew its holdings in Royal Caribbean Cruises by 25.9% during the 3rd quarter. Sound Income Strategies LLC now owns 486 shares of the company’s stock worth $86,000 after acquiring an additional 100 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Performance

NYSE RCL opened at $264.39 on Monday. The firm has a market cap of $71.09 billion, a P/E ratio of 24.73, a P/E/G ratio of 1.00 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a 52-week low of $113.10 and a 52-week high of $277.08. The business’s 50-day moving average price is $242.64 and its 200 day moving average price is $205.53. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same period in the prior year, the company posted $1.25 EPS. On average, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.96 earnings per share for the current year.

Royal Caribbean Cruises Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.20 annualized dividend and a yield of 0.83%. Royal Caribbean Cruises’s dividend payout ratio is currently 20.58%.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the transaction, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. The trade was a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction that occurred on 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 directly owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 372,609 shares of company stock worth $87,647,208. 7.95% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RCL. Sanford C. Bernstein started coverage on shares of Royal Caribbean Cruises in a report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price objective on the stock. Bank of America lifted their price target on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. UBS Group increased their price objective on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. boosted their target price on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus price target of $284.12.

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.