Grove Bank & Trust Raises Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Grove Bank & Trust lifted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 10.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 613 shares of the company’s stock after acquiring an additional 58 shares during the quarter. Grove Bank & Trust’s holdings in Royal Caribbean Cruises were worth $141,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Plato Investment Management Ltd purchased a new position in shares of Royal Caribbean Cruises during the third quarter worth approximately $26,000. Safe Harbor Fiduciary LLC purchased a new position in Royal Caribbean Cruises during the third quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. increased its holdings in Royal Caribbean Cruises by 257.4% during the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after buying an additional 121 shares during the period. ORG Wealth Partners LLC purchased a new position in Royal Caribbean Cruises during the fourth quarter valued at approximately $40,000. Finally, LRI Investments LLC purchased a new position in Royal Caribbean Cruises during the third quarter valued at approximately $31,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Royal Caribbean Cruises from $190.00 to $210.00 and gave the company an “equal weight” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday. Sanford C. Bernstein started coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 target price for the company. Wells Fargo & Company raised their target price on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Macquarie raised their target price on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average price target of $246.50.

Royal Caribbean Cruises Trading Up 3.6 %

Shares of Royal Caribbean Cruises stock opened at $241.79 on Tuesday. Royal Caribbean Cruises Ltd. has a 1 year low of $113.10 and a 1 year high of $258.70. 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 firm has a fifty day moving average price of $237.34 and a 200 day moving average price of $196.23. The stock has a market cap of $65.01 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 0.48 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the company earned $3.85 earnings per share. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. Equities research analysts predict that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current year.

Royal Caribbean Cruises Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were issued a $0.55 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a yield of 0.91%. Royal Caribbean Cruises’s payout ratio is 22.61%.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the business’s 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 completion of the sale, the executive vice president now owns 22,348 shares of the company’s stock, valued at $5,243,287.76. The trade was a 12.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard D. Fain sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the sale, the director now directly owns 204,521 shares of the company’s stock, valued at $42,953,500.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 404,332 shares of company stock valued at $94,299,521. Corporate 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.