Apollon Wealth Management LLC Acquires 569 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Apollon Wealth Management LLC raised its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 14.3% in the fourth quarter, Holdings Channel reports. The firm owned 4,540 shares of the company’s stock after purchasing an additional 569 shares during the period. Apollon Wealth Management LLC’s holdings in Royal Caribbean Cruises were worth $1,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of RCL. Plato Investment Management Ltd bought a new position in Royal Caribbean Cruises in the 3rd quarter valued at $26,000. Safe Harbor Fiduciary LLC bought a new position in Royal Caribbean Cruises in the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. grew its stake in Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares during the period. LRI Investments LLC bought a new position in Royal Caribbean Cruises in the 3rd quarter valued at $31,000. Finally, Bay Harbor Wealth Management LLC bought a new position in Royal Caribbean Cruises in the 4th quarter valued at $36,000. Institutional investors own 87.53% of the company’s stock.

Analyst Ratings Changes

RCL has been the subject of several research reports. Macquarie increased their price target on Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Truist Financial increased their price target on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Citigroup increased their price target on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Wells Fargo & Company increased their price target on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Finally, Tigress Financial increased their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Four 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.12.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $256.58 on Wednesday. The business’s 50-day moving average price is $242.94 and its two-hundred day moving average price is $206.58. Royal Caribbean Cruises Ltd. has a twelve month low of $113.10 and a twelve month high of $277.08. The stock has a market cap of $68.99 billion, a P/E ratio of 24.00, a PEG ratio of 1.00 and a beta of 2.59. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $1.25 EPS. As a group, equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.96 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were issued a $0.55 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.20 annualized dividend and a dividend yield of 0.86%. Royal Caribbean Cruises’s payout ratio is currently 20.58%.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the transaction, the executive vice president now directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the firm’s stock in a transaction dated 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 approximately $4,321,868,240.23. This 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 372,609 shares of company stock valued at $87,647,208 in the last 90 days. Corporate insiders own 7.95% of the company’s stock.

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.