Sound Income Strategies LLC Has $69,000 Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Sound Income Strategies LLC reduced its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 38.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300 shares of the company’s stock after selling 186 shares during the quarter. Sound Income Strategies LLC’s holdings in Royal Caribbean Cruises were worth $69,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. International Assets Investment Management LLC raised its position in Royal Caribbean Cruises by 10,599.0% in the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock worth $72,696,000 after purchasing an additional 406,048 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Royal Caribbean Cruises by 809.6% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company’s stock valued at $27,601,000 after buying an additional 154,090 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Royal Caribbean Cruises by 138.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company’s stock worth $28,703,000 after acquiring an additional 93,899 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Royal Caribbean Cruises during the third quarter worth $14,544,000. Finally, Dakota Wealth Management lifted its stake in shares of Royal Caribbean Cruises by 3,935.2% during the third quarter. Dakota Wealth Management now owns 76,871 shares of the company’s stock valued at $13,635,000 after acquiring an additional 74,966 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America lifted their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Barclays boosted their price target on shares of Royal Caribbean Cruises from $245.00 to $287.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Stifel Nicolaus raised their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Mizuho reaffirmed an “outperform” rating and set a $253.00 target price (down previously from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday. Finally, Truist Financial increased their price target on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $249.81.

Royal Caribbean Cruises Trading Down 2.3 %

NYSE RCL opened at $232.59 on Friday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The stock’s 50-day moving average is $237.76 and its 200-day moving average is $198.49. Royal Caribbean Cruises Ltd. has a one year low of $113.10 and a one year high of $258.70. The firm has a market cap of $62.54 billion, a P/E ratio of 23.90, a P/E/G ratio of 0.50 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping the consensus estimate of $5.05 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the company posted $3.85 EPS. Sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.66 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Friday, December 27th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.95%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 22.61%.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the transaction, the executive vice president now owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This represents a 12.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the completion of the sale, the chief accounting officer now directly owns 9,964 shares in the company, valued at approximately $2,077,593.64. This represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 404,332 shares of company stock valued at $94,299,521 over the last three months. Company insiders own 7.95% of the company’s stock.

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.