Patten & Patten Inc. TN Sells 225 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Patten & Patten Inc. TN trimmed its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 7.0% during the first quarter, Holdings Channel reports. The institutional investor owned 3,005 shares of the company’s stock after selling 225 shares during the quarter. Patten & Patten Inc. TN’s holdings in Royal Caribbean Cruises were worth $418,000 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. BKM Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises in the 4th quarter worth $26,000. Scarborough Advisors LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter valued at about $26,000. Creekmur Asset Management LLC bought a new position in Royal Caribbean Cruises during the fourth quarter worth about $30,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter worth about $33,000. Finally, West Branch Capital LLC increased its stake in Royal Caribbean Cruises by 50.0% in the 4th quarter. West Branch Capital LLC now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Performance

RCL traded up $0.24 on Monday, reaching $168.53. The company had a trading volume of 1,994,534 shares, compared to its average volume of 2,491,225. The stock has a market cap of $43.37 billion, a P/E ratio of 21.69, a P/E/G ratio of 0.51 and a beta of 2.62. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.16 and a current ratio of 0.19. Royal Caribbean Cruises Ltd. has a fifty-two week low of $78.35 and a fifty-two week high of $172.64. The company’s fifty day moving average is $154.28 and its 200 day moving average is $137.67.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Thursday, April 25th. The company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.44. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the prior year, the firm earned ($0.23) EPS. The business’s revenue for the quarter was up 29.2% compared to the same quarter last year. As a group, analysts predict that Royal Caribbean Cruises Ltd. will post 11.14 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Richard D. Fain sold 19,584 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the sale, the director now directly owns 179,117 shares in the company, valued at approximately $27,576,853.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Henry L. Pujol sold 9,944 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total value of $1,404,391.12. Following the completion of the sale, the chief accounting officer now owns 16,687 shares of the company’s stock, valued at $2,356,705.01. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard D. Fain sold 19,584 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total value of $3,015,152.64. Following the completion of the transaction, the director now directly owns 179,117 shares in the company, valued at $27,576,853.32. The disclosure for this sale can be found here. Insiders sold 152,884 shares of company stock valued at $22,052,985 over the last quarter. 7.95% of the stock is owned by company insiders.

Analysts Set New Price Targets

RCL has been the subject of several analyst reports. UBS Group raised their price objective on Royal Caribbean Cruises from $154.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. The Goldman Sachs Group upped their price objective on Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Truist Financial raised their target price on shares of Royal Caribbean Cruises from $151.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. JPMorgan Chase & Co. upped their price target on shares of Royal Caribbean Cruises from $173.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Finally, Argus lifted their price objective on shares of Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $166.06.

Royal Caribbean Cruises Company Profile

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.