Sowell Financial Services LLC Grows Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Sowell Financial Services LLC lifted its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.3% during the first quarter, HoldingsChannel.com reports. The fund owned 15,683 shares of the company’s stock after acquiring an additional 202 shares during the period. Sowell Financial Services LLC’s holdings in Royal Caribbean Cruises were worth $3,222,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RCL. Brown Miller Wealth Management LLC acquired a new stake in Royal Caribbean Cruises during the 1st quarter worth $266,000. Exchange Traded Concepts LLC lifted its position in Royal Caribbean Cruises by 480.0% during the first quarter. Exchange Traded Concepts LLC now owns 2,413 shares of the company’s stock worth $496,000 after buying an additional 1,997 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of Royal Caribbean Cruises by 197.3% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 33,787 shares of the company’s stock valued at $6,941,000 after acquiring an additional 22,423 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in Royal Caribbean Cruises by 26.7% in the 1st quarter. Sound Income Strategies LLC now owns 380 shares of the company’s stock valued at $78,000 after purchasing an additional 80 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Royal Caribbean Cruises by 3.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,640 shares of the company’s stock worth $3,624,000 after buying an additional 554 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the completion of the transaction, the director now directly owns 165,421 shares of the company’s stock, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.95% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RCL. Stifel Nicolaus upped their price objective on Royal Caribbean Cruises from $275.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Truist Financial upped their target price on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, May 19th. Melius Research upgraded shares of Royal Caribbean Cruises to a “strong-buy” rating in a research report on Monday, April 21st. BNP Paribas initiated coverage on shares of Royal Caribbean Cruises in a research note on Thursday, March 27th. They issued an “outperform” rating and a $262.00 price target on the stock. Finally, Citigroup upped their price objective on shares of Royal Caribbean Cruises from $268.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, June 5th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $276.90.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $264.56 on Tuesday. Royal Caribbean Cruises Ltd. has a twelve month low of $130.08 and a twelve month high of $279.89. The firm has a market capitalization of $71.84 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 0.90 and a beta of 2.14. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The firm’s fifty day simple moving average is $234.03 and its 200 day simple moving average is $234.01.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the firm posted $1.77 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

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 dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.13%. Royal Caribbean Cruises’s payout ratio is currently 24.92%.

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.