Institute for Wealth Management LLC. Decreases Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Institute for Wealth Management LLC. reduced its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,006 shares of the company’s stock after selling 52 shares during the period. Institute for Wealth Management LLC.’s holdings in Royal Caribbean Cruises were worth $463,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fifth Third Wealth Advisors LLC increased its holdings in Royal Caribbean Cruises by 2.2% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company’s stock valued at $544,000 after buying an additional 50 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its holdings in Royal Caribbean Cruises by 12.3% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 457 shares of the company’s stock valued at $106,000 after buying an additional 50 shares during the last quarter. FSM Wealth Advisors LLC boosted its position in shares of Royal Caribbean Cruises by 3.2% in the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock worth $290,000 after purchasing an additional 51 shares during the period. Brooklyn Investment Group boosted its position in shares of Royal Caribbean Cruises by 2.5% in the fourth quarter. Brooklyn Investment Group now owns 2,117 shares of the company’s stock worth $488,000 after purchasing an additional 52 shares during the period. Finally, Grove Bank & Trust boosted its position in shares of Royal Caribbean Cruises by 10.5% in the fourth quarter. Grove Bank & Trust now owns 613 shares of the company’s stock worth $141,000 after purchasing an additional 58 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Trading Down 3.0 %

Shares of RCL opened at $266.48 on Friday. Royal Caribbean Cruises Ltd. has a twelve month low of $113.10 and a twelve month high of $277.08. The company has a market cap of $71.65 billion, a P/E ratio of 24.93, a P/E/G ratio of 0.55 and a beta of 2.59. The company has a current ratio of 0.17, a quick ratio of 0.16 and a debt-to-equity ratio of 2.39. The company’s fifty day simple moving average is $239.86 and its 200-day simple moving average is $201.20.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $1.25 EPS. As a group, analysts expect that Royal Caribbean Cruises Ltd. will post 15 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.83%. The ex-dividend date was Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio is presently 20.58%.

Insider Buying and Selling

In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction 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 represents a 12.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the transaction, the director now owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 372,609 shares of company stock valued at $87,647,208 in the last 90 days. Company insiders own 7.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Wells Fargo & Company upped their price target on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price target for the company. Macquarie upped their price target on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Barclays upped their target price on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus target price of $274.19.

Royal Caribbean Cruises 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.