Axxcess Wealth Management LLC Acquires 2,256 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Axxcess Wealth Management LLC increased its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 124.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,075 shares of the company’s stock after purchasing an additional 2,256 shares during the period. Axxcess Wealth Management LLC’s holdings in Royal Caribbean Cruises were worth $940,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Safe Harbor Fiduciary LLC bought a new position in Royal Caribbean Cruises in the third quarter valued at approximately $27,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $36,000. Truvestments Capital LLC bought a new stake in Royal Caribbean Cruises in the 4th quarter valued at $36,000. ORG Wealth Partners LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter worth $40,000. Finally, LRI Investments LLC bought a new position in Royal Caribbean Cruises during the 3rd quarter worth about $31,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CEO Jason T. Liberty sold 58,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total value of $15,193,100.00. Following the completion of the sale, the chief executive officer now owns 143,214 shares of the company’s stock, valued at approximately $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Laura H. Bethge sold 14,992 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the transaction, the insider now directly owns 21,155 shares in the company, valued at approximately $5,539,648.30. This represents a 41.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,492 shares of company stock valued at $28,571,705 in the last ninety days. 7.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Price Performance

NYSE:RCL opened at $214.75 on Friday. The company has a market cap of $57.79 billion, a P/E ratio of 20.09, a P/E/G ratio of 0.90 and a beta of 2.53. The firm’s fifty day moving average price is $240.22 and its two-hundred day moving average price is $220.81. Royal Caribbean Cruises Ltd. has a one year low of $125.06 and a one year high of $277.08. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the company posted $1.25 EPS. Equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

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

Royal Caribbean Cruises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be issued a dividend of $0.75 per share. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 28.06%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. raised their price target 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. Loop Capital raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a research report on Wednesday, March 5th. Barclays raised their target price on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Susquehanna reduced their price objective on shares of Royal Caribbean Cruises from $305.00 to $295.00 and set a “positive” rating for the company in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.53.

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.