Foundations Investment Advisors LLC Cuts Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Foundations Investment Advisors LLC lessened its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 26.7% in the 2nd quarter, Holdings Channel reports. The firm owned 2,361 shares of the company’s stock after selling 859 shares during the period. Foundations Investment Advisors LLC’s holdings in Royal Caribbean Cruises were worth $376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. lifted its position in shares of Royal Caribbean Cruises by 463.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 733 shares of the company’s stock valued at $95,000 after acquiring an additional 603 shares in the last quarter. M&T Bank Corp lifted its holdings in Royal Caribbean Cruises by 2.3% in the 4th quarter. M&T Bank Corp now owns 11,347 shares of the company’s stock valued at $1,470,000 after purchasing an additional 259 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in Royal Caribbean Cruises by 43.2% during the 4th quarter. Apollon Wealth Management LLC now owns 3,585 shares of the company’s stock worth $464,000 after purchasing an additional 1,081 shares during the last quarter. Wealthspire Advisors LLC purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $265,000. Finally, Principal Securities Inc. acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $746,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on RCL. Morgan Stanley boosted their price target on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Barclays boosted their target price on Royal Caribbean Cruises from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Argus increased their price target on Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Bank of America boosted their price objective on Royal Caribbean Cruises from $145.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Citigroup raised their target price on Royal Caribbean Cruises from $165.00 to $204.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.13.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the sale, the insider now owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now directly owns 27,388 shares in the company, valued at $4,620,629.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Naftali Holtz bought 5,350 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average cost of $140.00 per share, with a total value of $749,000.00. Following the completion of the purchase, the chief financial officer now directly owns 48,256 shares in the company, valued at $6,755,840. The disclosure for this purchase can be found here. Insiders sold a total of 28,457 shares of company stock valued at $4,452,898 in the last three months. 7.95% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Price Performance

Shares of RCL opened at $156.55 on Friday. The firm has a 50-day simple moving average of $159.07 and a two-hundred day simple moving average of $146.28. The stock has a market cap of $40.29 billion, a PE ratio of 20.17, a P/E/G ratio of 0.47 and a beta of 2.61. Royal Caribbean Cruises Ltd. has a 1-year low of $78.35 and a 1-year high of $173.37. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter last year, the firm earned $1.82 EPS. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The company also recently announced a — dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 20.62%.

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.