Pinnacle Associates Ltd. reduced its position in Royal Caribbean Cruises Ltd. (NYSE:RCL – Free Report) by 1.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 349,940 shares of the company’s stock after selling 6,325 shares during the period. Royal Caribbean Cruises accounts for about 0.9% of Pinnacle Associates Ltd.’s portfolio, making the stock its 22nd largest position. Pinnacle Associates Ltd. owned approximately 0.14% of Royal Caribbean Cruises worth $55,791,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of RCL. Scarborough Advisors LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter worth about $26,000. Unique Wealth Strategies LLC acquired a new stake in shares of Royal Caribbean Cruises during the second quarter worth about $27,000. Creekmur Asset Management LLC purchased a new position in Royal Caribbean Cruises in the fourth quarter valued at about $30,000. Versant Capital Management Inc increased its stake in shares of Royal Caribbean Cruises by 905.3% during the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after purchasing an additional 172 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted its position in Royal Caribbean Cruises by 233.3% during the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock worth $32,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 87.53% of the company’s stock.
Royal Caribbean Cruises Trading Down 1.3 %
NYSE:RCL traded down $2.22 on Friday, reaching $164.62. 2,604,784 shares of the stock traded hands, compared to its average volume of 2,547,157. The firm has a market capitalization of $42.36 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 0.44 and a beta of 2.62. The company’s 50 day moving average is $159.04 and its 200-day moving average is $144.57. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. Royal Caribbean Cruises Ltd. has a 1-year low of $78.35 and a 1-year high of $173.37.
Royal Caribbean Cruises Dividend Announcement
The company also recently disclosed a — dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be issued a $0.40 dividend. The ex-dividend date is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 20.62%.
Wall Street Analyst Weigh In
Several research analysts have recently commented on RCL shares. Argus lifted their price target on shares of 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 target price on shares of Royal Caribbean Cruises from $145.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. StockNews.com lowered shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Royal Caribbean Cruises from $175.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley boosted their target price 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.13.
Read Our Latest Report on Royal Caribbean Cruises
Insider Buying and Selling
In other news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Naftali Holtz bought 5,350 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $140.00 per share, with a total value of $749,000.00. Following the transaction, 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. In the last 90 days, insiders sold 28,457 shares of company stock valued at $4,452,898. 7.95% of the stock is owned by insiders.
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.
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