Royal Caribbean Cruises Ltd. $RCL Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN lowered its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 5.9% in the second quarter, HoldingsChannel.com reports. The firm owned 2,880 shares of the company’s stock after selling 181 shares during the quarter. Patten & Patten Inc. TN’s holdings in Royal Caribbean Cruises were worth $902,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Royal Caribbean Cruises during the second quarter worth $27,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Royal Caribbean Cruises during the second quarter worth $31,000. 1 North Wealth Services LLC acquired a new position in shares of Royal Caribbean Cruises during the second quarter worth $31,000. Trust Co. of Toledo NA OH acquired a new position in Royal Caribbean Cruises in the second quarter valued at $32,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in Royal Caribbean Cruises in the first quarter valued at $25,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RCL shares. Bank of America upped their price objective on shares of Royal Caribbean Cruises from $230.00 to $355.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Royal Caribbean Cruises in a research note on Wednesday, October 8th. Susquehanna restated a “positive” rating and issued a $385.00 price objective (up previously from $275.00) on shares of Royal Caribbean Cruises in a research note on Wednesday, July 30th. Jefferies Financial Group upped their price objective on shares of Royal Caribbean Cruises from $235.00 to $315.00 and gave the company a “hold” rating in a research note on Monday, July 7th. Finally, UBS Group upped their price objective on shares of Royal Caribbean Cruises from $311.00 to $353.00 and gave the company a “buy” rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

Insider Buying and Selling

In related news, Director Richard D. Fain sold 16,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $311.02, for a total transaction of $4,976,320.00. Following the completion of the transaction, the director directly owned 150,291 shares of the company’s stock, valued at $46,743,506.82. This represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Henry L. Pujol sold 5,207 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $329.47, for a total transaction of $1,715,550.29. Following the transaction, the chief accounting officer directly owned 7,826 shares of the company’s stock, valued at $2,578,432.22. This represents a 39.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,507 shares of company stock valued at $10,091,282 over the last ninety days. Corporate insiders own 6.95% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $299.10 on Friday. The company has a 50-day simple moving average of $329.19 and a 200-day simple moving average of $287.35. Royal Caribbean Cruises Ltd. has a one year low of $164.01 and a one year high of $366.50. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.21 and a current ratio of 0.23. The stock has a market capitalization of $81.24 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 0.87 and a beta of 2.08.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, July 29th. The company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $4.04 by $0.34. Royal Caribbean Cruises had a net margin of 20.97% and a return on equity of 47.15%. The business had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the prior year, the company earned $3.21 earnings per share. The business’s revenue was up 10.4% compared to the same quarter last year. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. On average, analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 13th. Stockholders of record on Thursday, September 25th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, September 25th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.75. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.3%. Royal Caribbean Cruises’s dividend payout ratio is currently 29.99%.

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.