Brookstone Capital Management Sells 2,548 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Brookstone Capital Management decreased its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 36.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,506 shares of the company’s stock after selling 2,548 shares during the period. Brookstone Capital Management’s holdings in Royal Caribbean Cruises were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sanctuary Advisors LLC lifted its position in Royal Caribbean Cruises by 76.1% during the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock valued at $5,142,000 after purchasing an additional 12,530 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Royal Caribbean Cruises by 2.6% in the third quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock worth $51,349,000 after buying an additional 7,298 shares during the period. Souders Financial Advisors purchased a new position in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $800,000. Swiss National Bank grew its stake in shares of Royal Caribbean Cruises by 0.5% during the 3rd quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after acquiring an additional 3,800 shares during the period. Finally, New Wave Wealth Advisors LLC purchased a new stake in Royal Caribbean Cruises in the 2nd quarter worth approximately $611,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on RCL. Barclays lifted their price target on shares of Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an “overweight” rating in a report on Friday, December 13th. JPMorgan Chase & Co. upped their target price on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Tigress Financial raised their price target on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Sanford C. Bernstein started coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price objective on the stock. Finally, Truist Financial lifted their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $243.25.

Royal Caribbean Cruises Stock Performance

Royal Caribbean Cruises stock opened at $233.07 on Friday. The company’s 50-day moving average price is $236.76 and its 200-day moving average price is $194.81. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The company has a market cap of $62.67 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 0.48 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a twelve month low of $113.10 and a twelve month high of $258.70.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the firm posted $3.85 earnings per share. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.20 annualized dividend and a yield of 0.94%. Royal Caribbean Cruises’s payout ratio is presently 22.61%.

Insider Buying and Selling

In related 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 value of $53,732,600.00. Following the sale, the director now directly owns 18,556,860 shares of the company’s stock, valued at $4,335,253,633.20. This represents a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the executive vice president now directly owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock worth $94,299,521 over the last three months. 7.95% of the stock is owned by insiders.

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.