Bay Harbor Wealth Management LLC Makes New Investment in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Bay Harbor Wealth Management LLC bought a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 155 shares of the company’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park Avenue Securities LLC raised its position in Royal Caribbean Cruises by 20.1% in the fourth quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock valued at $1,530,000 after purchasing an additional 1,111 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Royal Caribbean Cruises by 76.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock valued at $5,142,000 after buying an additional 12,530 shares during the period. Wedge Capital Management L L P NC lifted its position in Royal Caribbean Cruises by 2.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock worth $51,349,000 after acquiring an additional 7,298 shares in the last quarter. Souders Financial Advisors acquired a new stake in Royal Caribbean Cruises in the third quarter valued at approximately $800,000. Finally, Merit Financial Group LLC raised its stake in shares of Royal Caribbean Cruises by 541.0% during the fourth quarter. Merit Financial Group LLC now owns 9,897 shares of the company’s stock valued at $2,283,000 after purchasing an additional 8,353 shares during the period. Institutional investors and hedge funds own 87.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on RCL. StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Stifel Nicolaus increased their price target on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a report on Friday, December 6th. Citigroup raised their price objective on Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Tigress Financial upped their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Barclays lifted their price target on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus price target of $275.13.

Royal Caribbean Cruises Price Performance

Shares of Royal Caribbean Cruises stock opened at $262.44 on Tuesday. Royal Caribbean Cruises Ltd. has a 52 week low of $113.10 and a 52 week high of $277.08. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The stock has a market cap of $70.56 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 0.98 and a beta of 2.59. The company’s 50-day moving average price is $240.36 and its two-hundred day moving average price is $202.36.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results 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 last year, the firm earned $1.25 earnings per share. As a group, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.96 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Friday, December 27th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio is presently 20.58%.

Insider Buying and Selling

In related news, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value 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 approximately $5,243,287.76. This trade represents a 12.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the transaction, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. The trade was a 1.22 % 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 worth $87,647,208 in the last three months. 7.95% of the stock is currently owned by insiders.

About Royal Caribbean Cruises

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.