Axxcess Wealth Management LLC Purchases 2,256 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Axxcess Wealth Management LLC grew its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 124.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,075 shares of the company’s stock after purchasing an additional 2,256 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Royal Caribbean Cruises were worth $940,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RCL. Safe Harbor Fiduciary LLC acquired a new position in Royal Caribbean Cruises during the third quarter valued at approximately $27,000. LRI Investments LLC bought a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at $31,000. Bay Harbor Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter worth $36,000. Truvestments Capital LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth $36,000. Finally, ORG Wealth Partners LLC bought a new position in Royal Caribbean Cruises in the fourth quarter valued at about $40,000. Institutional investors own 87.53% of the company’s stock.

Wall Street Analyst Weigh In

RCL has been the topic of a number of research analyst reports. Mizuho restated an “outperform” rating and issued a $253.00 price target (down from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. Loop Capital upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Wednesday, March 5th. StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Citigroup raised their price objective on Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Truist Financial upped their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $283.53.

Insiders Place Their Bets

In other news, insider Laura H. Bethge sold 14,992 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the transaction, the insider now owns 21,155 shares of the company’s stock, valued at $5,539,648.30. This represents a 41.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard D. Fain sold 19,500 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the completion of the sale, the director now directly owns 185,021 shares of the company’s stock, valued at $47,491,190.28. The trade was a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Trading Down 0.2 %

NYSE:RCL opened at $214.75 on Friday. Royal Caribbean Cruises Ltd. has a 52 week low of $125.06 and a 52 week high of $277.08. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The firm’s fifty day moving average is $240.22 and its 200-day moving average is $220.81. The firm has a market cap of $57.79 billion, a P/E ratio of 20.09, a P/E/G ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same period last year, the business earned $1.25 EPS. Equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, March 7th. This represents a $3.00 annualized dividend and a yield of 1.40%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 28.06%.

Royal Caribbean Cruises announced that its board has approved a stock buyback plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 1.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.