Accurate Wealth Management LLC Sells 230 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Accurate Wealth Management LLC decreased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 7.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,683 shares of the company’s stock after selling 230 shares during the period. Accurate Wealth Management LLC’s holdings in Royal Caribbean Cruises were worth $515,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Simplicity Wealth LLC boosted its holdings in Royal Caribbean Cruises by 17.9% in the 1st quarter. Simplicity Wealth LLC now owns 1,177 shares of the company’s stock worth $242,000 after buying an additional 179 shares during the period. GAMMA Investing LLC lifted its position in shares of Royal Caribbean Cruises by 8.3% during the first quarter. GAMMA Investing LLC now owns 6,868 shares of the company’s stock worth $1,411,000 after acquiring an additional 528 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Royal Caribbean Cruises during the first quarter worth $1,743,000. Yousif Capital Management LLC boosted its holdings in shares of Royal Caribbean Cruises by 2.6% in the first quarter. Yousif Capital Management LLC now owns 33,195 shares of the company’s stock worth $6,820,000 after acquiring an additional 840 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of Royal Caribbean Cruises by 31.7% in the first quarter. Farther Finance Advisors LLC now owns 3,596 shares of the company’s stock valued at $748,000 after purchasing an additional 866 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RCL. Morgan Stanley increased their price objective on Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. BNP Paribas assumed coverage on Royal Caribbean Cruises in a research report on Thursday, March 27th. They set an “outperform” rating and a $262.00 price target on the stock. Stifel Nicolaus raised their price objective on shares of Royal Caribbean Cruises from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. The Goldman Sachs Group reduced their price objective on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, Northcoast Research started coverage on shares of Royal Caribbean Cruises in a report on Friday, April 25th. They set a “buy” rating and a $279.00 target price on the stock. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $276.90.

Royal Caribbean Cruises Price Performance

RCL opened at $270.00 on Wednesday. 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 stock has a market capitalization of $73.32 billion, a P/E ratio of 25.26, a PEG ratio of 0.90 and a beta of 2.14. The stock has a 50-day moving average price of $227.23 and a 200-day moving average price of $233.47. Royal Caribbean Cruises Ltd. has a 12-month low of $130.08 and a 12-month high of $279.89.

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

Royal Caribbean Cruises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.11%. Royal Caribbean Cruises’s payout ratio is presently 24.92%.

Royal Caribbean Cruises announced that its board has approved a share buyback plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of the sale, the director now owns 165,421 shares in the company, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. 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.

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.