Whalen Wealth Management Inc. Takes Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Whalen Wealth Management Inc. purchased a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,052 shares of the company’s stock, valued at approximately $422,000.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its position in Royal Caribbean Cruises by 12.2% during the fourth quarter. Brighton Jones LLC now owns 1,312 shares of the company’s stock valued at $303,000 after acquiring an additional 143 shares during the last quarter. Truist Financial Corp boosted its position in shares of Royal Caribbean Cruises by 11.1% during the 4th quarter. Truist Financial Corp now owns 26,235 shares of the company’s stock valued at $6,052,000 after purchasing an additional 2,611 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in Royal Caribbean Cruises by 1.8% during the fourth quarter. Concurrent Investment Advisors LLC now owns 4,102 shares of the company’s stock worth $946,000 after purchasing an additional 72 shares during the period. ING Groep NV acquired a new stake in Royal Caribbean Cruises in the fourth quarter worth $2,782,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Royal Caribbean Cruises by 18.4% during the fourth quarter. First Horizon Advisors Inc. now owns 437 shares of the company’s stock valued at $101,000 after purchasing an additional 68 shares during the period. 87.53% of the stock is owned by institutional investors.

Royal Caribbean Cruises Stock Up 1.9%

Shares of NYSE RCL opened at $272.84 on Monday. The business has a 50-day moving average of $239.38 and a 200-day moving average of $234.55. The firm has a market capitalization of $74.09 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 0.81 and a beta of 2.14. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21. 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 quarterly earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.18. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.77 EPS. Sell-side 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 company 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 $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.10%. Royal Caribbean Cruises’s dividend payout ratio is currently 24.92%.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of the company’s stock in a transaction on Monday, May 19th. The shares were 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 of the company’s stock, valued at approximately $41,868,055.10. This represents a 10.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays increased their price target on Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. BNP Paribas assumed coverage on shares of Royal Caribbean Cruises in a research note on Thursday, March 27th. They set an “outperform” rating and a $262.00 price target for the company. The Goldman Sachs Group lowered their price objective on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Loop Capital reiterated a “buy” rating and set a $290.00 price objective (up from $250.00) on shares of Royal Caribbean Cruises in a report on Tuesday, June 3rd. Finally, Citigroup raised their price target on shares of Royal Caribbean Cruises from $268.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, June 5th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average target price of $276.90.

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.