Latitude Advisors LLC Sells 46 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Latitude Advisors LLC reduced its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,157 shares of the company’s stock after selling 46 shares during the quarter. Latitude Advisors LLC’s holdings in Royal Caribbean Cruises were worth $728,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Park Avenue Securities LLC lifted its holdings in Royal Caribbean Cruises by 20.1% during the 4th quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock worth $1,530,000 after purchasing an additional 1,111 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Royal Caribbean Cruises by 76.1% during the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock worth $5,142,000 after buying an additional 12,530 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Royal Caribbean Cruises by 2.6% in the third quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock valued at $51,349,000 after acquiring an additional 7,298 shares during the period. Souders Financial Advisors acquired a new position in shares of Royal Caribbean Cruises in the third quarter valued at about $800,000. Finally, Merit Financial Group LLC increased its position in Royal Caribbean Cruises by 541.0% during the fourth quarter. Merit Financial Group LLC now owns 9,897 shares of the company’s stock worth $2,283,000 after acquiring an additional 8,353 shares during the period. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock opened at $261.14 on Tuesday. The firm has a market capitalization of $70.22 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 1.00 and a beta of 2.59. 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 business’s 50-day moving average price is $242.64 and its 200-day moving average price is $205.82. Royal Caribbean Cruises Ltd. has a 12 month low of $113.10 and a 12 month high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same quarter last year, the business posted $1.25 EPS. Equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.96 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Friday, December 27th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.84%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 20.58%.

Insider Transactions at Royal Caribbean Cruises

In related news, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the transaction, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the sale, the director now owns 18,556,860 shares of the company’s stock, valued at $4,335,253,633.20. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 372,609 shares of company stock worth $87,647,208. Company insiders own 7.95% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on RCL. The Goldman Sachs Group cut their price objective on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, January 24th. Barclays increased their price target on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Tigress Financial lifted their price objective on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a report on Friday. Susquehanna increased their target price on Royal Caribbean Cruises from $245.00 to $305.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Finally, Bank of America boosted their price target on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and an average price target of $284.12.

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.