Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Patton Fund Management Inc.

Patton Fund Management Inc. cut its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 13.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,688 shares of the company’s stock after selling 4,029 shares during the period. Royal Caribbean Cruises accounts for about 1.2% of Patton Fund Management Inc.’s portfolio, making the stock its 28th largest position. Patton Fund Management Inc.’s holdings in Royal Caribbean Cruises were worth $6,157,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Plato Investment Management Ltd purchased a new stake in shares of Royal Caribbean Cruises during the third quarter valued at $26,000. Safe Harbor Fiduciary LLC acquired a new stake in Royal Caribbean Cruises during the 3rd quarter worth about $27,000. DiNuzzo Private Wealth Inc. lifted its position in Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after acquiring an additional 121 shares during the period. LRI Investments LLC purchased a new stake in Royal Caribbean Cruises during the 3rd quarter valued at about $31,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm’s 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 transaction, the director now directly owns 18,556,860 shares of the company’s stock, valued at approximately $4,335,253,633.20. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the sale, the executive vice president now directly owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 372,609 shares of company stock valued at $87,647,208 over the last quarter. 7.95% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Citigroup upped their target price on Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a research report on Wednesday. Macquarie upped their price objective on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial increased their price objective on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Barclays upped their price target on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Tigress Financial lifted their price objective on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $263.25.

Royal Caribbean Cruises Trading Up 11.8 %

Shares of NYSE:RCL opened at $264.71 on Wednesday. The firm has a market capitalization of $71.17 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 0.50 and a beta of 2.59. The business’s 50 day moving average price is $238.47 and its 200-day moving average price is $200.21. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises Ltd. has a 1 year low of $113.10 and a 1 year high of $269.96.

Royal Caribbean Cruises (NYSE:RCL) last announced 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 16.21% and a return on equity of 52.92%. During the same period last year, the business earned $1.25 EPS. On average, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.66 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.83%. Royal Caribbean Cruises’s payout ratio is currently 22.61%.

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.