Pinnacle Wealth Management Advisory Group LLC Has $549,000 Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Pinnacle Wealth Management Advisory Group LLC lessened its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 18.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,379 shares of the company’s stock after selling 538 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Royal Caribbean Cruises were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its holdings in shares of Royal Caribbean Cruises by 241.5% in the third quarter. Exchange Traded Concepts LLC now owns 888 shares of the company’s stock valued at $157,000 after purchasing an additional 628 shares in the last quarter. Creative Planning increased its stake in shares of Royal Caribbean Cruises by 12.8% in the 3rd quarter. Creative Planning now owns 38,119 shares of the company’s stock valued at $6,761,000 after buying an additional 4,311 shares during the period. Good Life Advisors LLC raised its position in shares of Royal Caribbean Cruises by 13.2% during the third quarter. Good Life Advisors LLC now owns 2,038 shares of the company’s stock worth $361,000 after acquiring an additional 237 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Royal Caribbean Cruises by 13.9% during the third quarter. Global Retirement Partners LLC now owns 2,042 shares of the company’s stock valued at $362,000 after acquiring an additional 249 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Royal Caribbean Cruises by 8.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,575 shares of the company’s stock valued at $6,310,000 after acquiring an additional 2,640 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Up 1.1 %

Shares of RCL stock opened at $262.99 on Monday. Royal Caribbean Cruises Ltd. has a 12-month low of $113.10 and a 12-month high of $277.08. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The firm has a fifty day moving average of $243.57 and a 200-day moving average of $209.13. The company has a market capitalization of $70.71 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 1.00 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same quarter in the previous year, the firm posted $1.25 earnings per share. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.96 earnings per share for the current fiscal year.

Royal Caribbean Cruises declared that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.14%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio is 28.06%.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the completion of the transaction, the director now directly owns 18,556,860 shares in the company, valued at $4,335,253,633.20. This represents a 1.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction dated 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 sale, the executive vice president now directly owns 22,348 shares in the company, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 392,109 shares of company stock valued at $92,652,468 in the last ninety days. 7.95% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on RCL shares. StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Argus raised their price objective on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Sanford C. Bernstein began coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 target price for the company. Citigroup raised their price target on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Finally, Macquarie upped their price objective on Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $284.12.

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.