Patton Fund Management Inc. Trims Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Patton Fund Management Inc. lessened its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,717 shares of the company’s stock after selling 1,634 shares during the period. Patton Fund Management Inc.’s holdings in Royal Caribbean Cruises were worth $5,448,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RCL. American International Group Inc. increased its holdings in Royal Caribbean Cruises by 3.6% during the 4th quarter. American International Group Inc. now owns 65,234 shares of the company’s stock valued at $8,447,000 after purchasing an additional 2,255 shares during the period. Scarborough Advisors LLC purchased a new position in Royal Caribbean Cruises during the 4th quarter valued at about $26,000. GAMMA Investing LLC increased its holdings in Royal Caribbean Cruises by 25.4% during the 1st quarter. GAMMA Investing LLC now owns 1,917 shares of the company’s stock valued at $266,000 after purchasing an additional 388 shares during the period. First Hawaiian Bank increased its holdings in Royal Caribbean Cruises by 3.9% during the 1st quarter. First Hawaiian Bank now owns 9,291 shares of the company’s stock valued at $1,292,000 after purchasing an additional 352 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Royal Caribbean Cruises by 11.6% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,026 shares of the company’s stock valued at $143,000 after purchasing an additional 107 shares during the period. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Vagn O. Sorensen sold 5,800 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the completion of the sale, the director now directly owns 25,837 shares in the company, valued at $4,095,164.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Royal Caribbean Cruises news, CFO Naftali Holtz purchased 5,350 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the purchase, the chief financial officer now owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Vagn O. Sorensen sold 5,800 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the completion of the sale, the director now owns 25,837 shares of the company’s stock, valued at $4,095,164.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.95% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL traded up $2.06 during midday trading on Thursday, hitting $203.80. 426,208 shares of the stock traded hands, compared to its average volume of 2,417,578. The firm has a 50-day moving average of $170.04 and a two-hundred day moving average of $155.93. The firm has a market capitalization of $52.45 billion, a P/E ratio of 26.12, a PEG ratio of 0.55 and a beta of 2.61. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19. Royal Caribbean Cruises Ltd. has a one year low of $78.35 and a one year high of $204.37.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.45. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.82 EPS. On average, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 11.63 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were paid a $0.40 dividend. The ex-dividend date was Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 20.62%.

Analysts Set New Price Targets

RCL has been the topic of a number of research analyst reports. Macquarie upped their target price on Royal Caribbean Cruises from $165.00 to $189.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Barclays upped their target price on Royal Caribbean Cruises from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Citigroup upped their target price on Royal Caribbean Cruises from $204.00 to $253.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Truist Financial upped their target price on Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $189.06.

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.