Salomon & Ludwin LLC Sells 100 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Salomon & Ludwin LLC lessened its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 33.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 200 shares of the company’s stock after selling 100 shares during the period. Salomon & Ludwin LLC’s holdings in Royal Caribbean Cruises were worth $46,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hemington Wealth Management grew its stake in shares of Royal Caribbean Cruises by 9.0% in the 4th quarter. Hemington Wealth Management now owns 533 shares of the company’s stock worth $123,000 after acquiring an additional 44 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of Royal Caribbean Cruises by 2.2% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company’s stock worth $544,000 after acquiring an additional 50 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its stake in shares of Royal Caribbean Cruises by 12.3% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 457 shares of the company’s stock worth $106,000 after acquiring an additional 50 shares in the last quarter. DT Investment Partners LLC grew its stake in shares of Royal Caribbean Cruises by 16.7% in the 4th quarter. DT Investment Partners LLC now owns 350 shares of the company’s stock worth $81,000 after acquiring an additional 50 shares in the last quarter. Finally, FSM Wealth Advisors LLC grew its stake in shares of Royal Caribbean Cruises by 3.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock worth $290,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.

Wall Street Analysts Forecast Growth

RCL has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Bank of America upped their target price on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Truist Financial increased their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Loop Capital started coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, February 4th. They set a “hold” rating and a $250.00 price target for the company. Finally, Morgan Stanley increased their price target on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus price target of $284.12.

Royal Caribbean Cruises Price Performance

NYSE RCL opened at $262.99 on Friday. The company has a market cap of $70.71 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 1.00 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a 52 week low of $113.10 and a 52 week high of $277.08. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The firm’s 50-day simple moving average is $243.57 and its two-hundred day simple moving average is $208.77.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 EPS 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 quarter in the prior year, the firm earned $1.25 EPS. Research analysts predict that Royal Caribbean Cruises Ltd. will post 14.96 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.14%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises’s dividend payout ratio is presently 20.58%.

Royal Caribbean Cruises announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the sale, the director now directly owns 185,021 shares of the company’s stock, valued at $47,491,190.28. This trade represents a 9.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 18,556,860 shares in the company, valued at $4,335,253,633.20. This represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 392,109 shares of company stock valued at $92,652,468. 7.95% of the stock is currently owned by corporate insiders.

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.