Ellis Investment Partners LLC Buys 286 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Ellis Investment Partners LLC lifted its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,893 shares of the company’s stock after purchasing an additional 286 shares during the quarter. Ellis Investment Partners LLC’s holdings in Royal Caribbean Cruises were worth $940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Caprock Group LLC boosted its position in shares of Royal Caribbean Cruises by 40.5% in the 2nd quarter. Caprock Group LLC now owns 2,282 shares of the company’s stock worth $364,000 after purchasing an additional 658 shares in the last quarter. Acadian Asset Management LLC raised its stake in Royal Caribbean Cruises by 245.6% during the 2nd quarter. Acadian Asset Management LLC now owns 11,590 shares of the company’s stock valued at $1,846,000 after buying an additional 8,236 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Royal Caribbean Cruises by 983.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 401 shares of the company’s stock worth $64,000 after purchasing an additional 364 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Royal Caribbean Cruises by 9.8% in the 2nd quarter. Private Advisor Group LLC now owns 9,370 shares of the company’s stock worth $1,494,000 after purchasing an additional 834 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Royal Caribbean Cruises by 4.8% in the 2nd quarter. National Bank of Canada FI now owns 82,588 shares of the company’s stock worth $12,920,000 after purchasing an additional 3,762 shares in the last quarter. 87.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RCL has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Royal Caribbean Cruises from $175.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Barclays upped their target price on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Susquehanna upped their target price on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Bank of America increased their price objective on shares of Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Finally, Stifel Nicolaus increased their price objective on shares of Royal Caribbean Cruises from $180.00 to $200.00 and gave the company a “buy” rating in a report on Friday, July 19th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $182.13.

Insider Buying and Selling

In related news, Director Richard D. Fain sold 19,584 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $153.96, for a total value of $3,015,152.64. Following the sale, the director now directly owns 179,117 shares of the company’s stock, valued at approximately $27,576,853.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the transaction, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 19,584 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the transaction, the director now directly owns 179,117 shares in the company, valued at $27,576,853.32. The disclosure for this sale can be found here. Insiders have sold 28,457 shares of company stock valued at $4,452,898 in the last ninety days. 7.95% of the stock is owned by company insiders.

Royal Caribbean Cruises Stock Down 0.9 %

Shares of NYSE RCL opened at $156.55 on Friday. The firm’s 50-day moving average price is $159.07 and its 200-day moving average price is $146.28. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. The stock has a market capitalization of $40.29 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 0.47 and a beta of 2.61. Royal Caribbean Cruises Ltd. has a 12-month low of $78.35 and a 12-month high of $173.37.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the prior year, the company earned $1.82 EPS. The business’s revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

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

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.