Crossmark Global Holdings Inc. Sells 1,042 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Crossmark Global Holdings Inc. reduced its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 10.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,590 shares of the company’s stock after selling 1,042 shares during the period. Crossmark Global Holdings Inc.’s holdings in Royal Caribbean Cruises were worth $1,982,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Plato Investment Management Ltd acquired a new stake in shares of Royal Caribbean Cruises in the third quarter valued at about $26,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Royal Caribbean Cruises in the third quarter valued at about $27,000. DiNuzzo Private Wealth Inc. grew its position in shares of Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Royal Caribbean Cruises in the third quarter valued at about $31,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $40,000. 87.53% of the stock is owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $238.40 on Friday. Royal Caribbean Cruises Ltd. has a 1 year low of $113.10 and a 1 year high of $258.70. The firm has a 50 day moving average of $237.63 and a 200-day moving average of $197.71. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The stock has a market capitalization of $64.10 billion, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 0.52 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the company posted $3.85 earnings per share. Royal Caribbean Cruises’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.66 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Friday, December 27th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 22.61%.

Insider Activity

In related news, Director Richard D. Fain sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total value of $5,250,500.00. Following the completion of the transaction, the director now owns 204,521 shares in the company, valued at $42,953,500.42. The trade was a 10.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the completion of the transaction, the director now owns 18,167,507 shares of the company’s stock, valued at $4,321,868,240.23. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 404,332 shares of company stock worth $94,299,521. Insiders own 7.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays raised their price target on Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Bank of America lifted their target price on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Truist Financial lifted their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Wells Fargo & Company lifted their target price on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their target price on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $250.13.

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.