Royal Caribbean Cruises Ltd. $RCL Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. trimmed its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 21.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 183,275 shares of the company’s stock after selling 50,693 shares during the period. Royal Caribbean Cruises comprises about 0.8% of Pinnacle Associates Ltd.’s portfolio, making the stock its 21st largest holding. Pinnacle Associates Ltd. owned approximately 0.07% of Royal Caribbean Cruises worth $57,391,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in Royal Caribbean Cruises in the 2nd quarter worth about $27,000. Oliver Lagore Vanvalin Investment Group purchased a new position in Royal Caribbean Cruises in the 2nd quarter worth approximately $31,000. 1 North Wealth Services LLC purchased a new position in Royal Caribbean Cruises in the 2nd quarter worth approximately $31,000. Trust Co. of Toledo NA OH purchased a new position in Royal Caribbean Cruises in the 2nd quarter worth approximately $32,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in Royal Caribbean Cruises in the 1st quarter worth approximately $25,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Royal Caribbean Cruises

In related news, Director Vagn O. Sorensen sold 10,300 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $330.04, for a total value of $3,399,412.00. Following the completion of the sale, the director owned 16,407 shares in the company, valued at approximately $5,414,966.28. This trade represents a 38.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard D. Fain sold 16,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $311.02, for a total transaction of $4,976,320.00. Following the completion of the sale, the director owned 150,291 shares of the company’s stock, valued at $46,743,506.82. This trade represents a 9.62% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.95% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Stock Up 1.7%

RCL stock opened at $284.69 on Friday. The firm has a market cap of $77.33 billion, a PE ratio of 19.15, a PEG ratio of 0.84 and a beta of 2.08. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.21 and a current ratio of 0.16. The firm’s 50 day moving average price is $326.81 and its 200-day moving average price is $295.75. Royal Caribbean Cruises Ltd. has a one year low of $164.01 and a one year high of $366.50.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, October 28th. The company reported $5.75 EPS for the quarter, beating the consensus estimate of $5.68 by $0.07. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.16 billion. Royal Caribbean Cruises had a net margin of 23.33% and a return on equity of 44.68%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.20 EPS. Royal Caribbean Cruises has set its FY 2025 guidance at 15.580-15.630 EPS. Q4 2025 guidance at 2.740-2.790 EPS. On average, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 13th. Investors of record on Thursday, September 25th were issued a $1.00 dividend. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, September 25th. This represents a $4.00 annualized dividend and a yield of 1.4%. Royal Caribbean Cruises’s payout ratio is 29.99%.

Analyst Ratings Changes

RCL has been the topic of a number of research reports. TD Cowen initiated coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, July 22nd. They issued a “buy” rating and a $405.00 target price on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Caribbean Cruises in a research note on Wednesday, October 8th. Stifel Nicolaus decreased their target price on shares of Royal Caribbean Cruises from $420.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday. William Blair reissued an “outperform” rating on shares of Royal Caribbean Cruises in a research note on Tuesday. Finally, Tigress Financial raised their target price on shares of Royal Caribbean Cruises from $330.00 to $415.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $325.29.

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.