Wedge Capital Management L L P NC Sells 80,861 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Wedge Capital Management L L P NC cut its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 27.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 208,657 shares of the company’s stock after selling 80,861 shares during the period. Royal Caribbean Cruises comprises 0.9% of Wedge Capital Management L L P NC’s portfolio, making the stock its 29th biggest holding. Wedge Capital Management L L P NC’s holdings in Royal Caribbean Cruises were worth $48,135,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RCL. Sanctuary Advisors LLC increased its holdings in Royal Caribbean Cruises by 76.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock worth $5,142,000 after acquiring an additional 12,530 shares during the period. Souders Financial Advisors purchased a new position in shares of Royal Caribbean Cruises during the 3rd quarter valued at $800,000. Swiss National Bank increased its holdings in shares of Royal Caribbean Cruises by 0.5% in the third quarter. Swiss National Bank now owns 725,638 shares of the company’s stock worth $128,699,000 after purchasing an additional 3,800 shares during the period. New Wave Wealth Advisors LLC purchased a new stake in shares of Royal Caribbean Cruises in the second quarter worth $611,000. Finally, World Investment Advisors LLC bought a new stake in Royal Caribbean Cruises during the third quarter valued at $7,107,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 25,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the sale, the director now directly owns 204,521 shares in the company, valued at approximately $42,953,500.42. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $237.89, for a total value of $33,150,685.17. Following the transaction, the director now directly owns 18,167,507 shares in the company, valued at $4,321,868,240.23. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 404,332 shares of company stock worth $94,299,521 in the last 90 days. Company insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of Royal Caribbean Cruises stock opened at $241.79 on Friday. The stock has a market capitalization of $65.01 billion, a P/E ratio of 24.85, a price-to-earnings-growth ratio of 0.48 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a one year low of $113.10 and a one 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 business’s 50 day simple moving average is $237.01 and its two-hundred day simple moving average is $195.08.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm’s revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.85 EPS. Analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

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

Wall Street Analysts Forecast Growth

RCL has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on Royal Caribbean Cruises from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Tigress Financial increased their price target on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Truist Financial lifted their price objective on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Barclays increased their target price on Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $246.50.

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.