Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Purchased by Pitti Group Wealth Management LLC

Pitti Group Wealth Management LLC increased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 7.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,396 shares of the company’s stock after purchasing an additional 241 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in Royal Caribbean Cruises were worth $541,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RCL. Envestnet Portfolio Solutions Inc. raised its position in Royal Caribbean Cruises by 2.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,162 shares of the company’s stock worth $668,000 after acquiring an additional 140 shares during the period. Quadrant Capital Group LLC raised its position in shares of Royal Caribbean Cruises by 19.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,788 shares of the company’s stock worth $232,000 after purchasing an additional 285 shares during the last quarter. ING Groep NV lifted its stake in Royal Caribbean Cruises by 294.2% in the 4th quarter. ING Groep NV now owns 32,273 shares of the company’s stock valued at $4,179,000 after buying an additional 24,086 shares in the last quarter. Norges Bank purchased a new position in Royal Caribbean Cruises in the 4th quarter valued at about $323,251,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Royal Caribbean Cruises by 1.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 46,653 shares of the company’s stock worth $6,041,000 after buying an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Activity

In other news, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total value of $919,300.00. Following the transaction, the director now directly owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the transaction, the director now directly owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The disclosure for this sale can be found here. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Trading Up 1.1 %

NYSE RCL opened at $169.78 on Tuesday. The firm’s fifty day moving average price is $159.92 and its 200 day moving average price is $148.27. Royal Caribbean Cruises Ltd. has a 12 month low of $78.35 and a 12 month high of $173.40. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. The company has a market capitalization of $43.69 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 0.47 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the company posted $1.82 earnings per share. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a $0.40 dividend. The ex-dividend date is Friday, September 20th.

Wall Street Analyst Weigh In

RCL has been the subject of several research analyst reports. Tigress Financial increased their target price on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Susquehanna upped their target price on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Tuesday, July 30th. Morgan Stanley lifted their target price on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Macquarie lifted their price objective on Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group upped their target price on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $182.31.

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.