Royal Caribbean Cruises Ltd. $RCL Stock: Provenance Wealth Advisors LLC Raises Position

Provenance Wealth Advisors LLC increased its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 20,527.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,269 shares of the company’s stock after acquiring an additional 2,258 shares during the period. Provenance Wealth Advisors LLC’s holdings in Royal Caribbean Cruises were worth $603,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RCL. BlackRock Inc. purchased a new position in Royal Caribbean Cruises during the 2nd quarter valued at $6,549,422,000. Primecap Management Co. CA purchased a new stake in Royal Caribbean Cruises in the second quarter worth $669,804,000. Jupiter Topco LLC purchased a new stake in Royal Caribbean Cruises in the second quarter worth $597,350,000. Legal & General Group Plc purchased a new stake in Royal Caribbean Cruises in the second quarter worth $413,449,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Royal Caribbean Cruises during the second quarter worth $381,271,000. 87.53% of the stock is owned by institutional investors.

Insider Activity at Royal Caribbean Cruises

In related news, Director Maritza Montiel sold 400 shares of the company’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $307.21, for a total transaction of $122,884.00. Following the completion of the sale, the director directly owned 13,202 shares in the company, valued at $4,055,786.42. This represents a 2.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 6.44% of the company’s stock.

Royal Caribbean Cruises Stock Performance

RCL stock opened at $333.93 on Thursday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.22 and a quick ratio of 0.19. Royal Caribbean Cruises Ltd. has a 1-year low of $222.22 and a 1-year high of $356.39. The business has a 50-day moving average price of $273.74 and a 200 day moving average price of $287.36. The company has a market capitalization of $89.32 billion, a P/E ratio of 18.23, a PEG ratio of 1.09 and a beta of 1.88.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 27th. The company reported $6.57 earnings per share for the quarter, topping analysts’ consensus estimates of $6.38 by $0.19. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.61 billion. Royal Caribbean Cruises had a return on equity of 43.40% and a net margin of 23.78%. Royal Caribbean Cruises’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.75 earnings per share. As a group, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 17.94 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, September 17th. Royal Caribbean Cruises’s payout ratio is presently 35.52%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RCL. Susquehanna boosted their target price on shares of Royal Caribbean Cruises from $355.00 to $360.00 and gave the company a “positive” rating in a research note on Wednesday, October 28th. The Goldman Sachs Group restated a “buy” rating and issued a $358.00 price target on shares of Royal Caribbean Cruises in a report on Wednesday, October 28th. Tigress Financial reaffirmed a “buy” rating and issued a $425.00 price target on shares of Royal Caribbean Cruises in a research note on Monday, September 28th. Argus lifted their price objective on shares of Royal Caribbean Cruises from $330.00 to $375.00 in a report on Tuesday, July 28th. Finally, Citigroup boosted their price objective on shares of Royal Caribbean Cruises from $362.00 to $364.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Twenty-one analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $355.62.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd., doing business as Royal Caribbean Group (NYSE: RCL), is a global cruise company that operates vacation cruises and related travel experiences. Its fleet visits destinations across the Caribbean, Europe, Alaska, Asia, Australia, and other regions, with itineraries that typically include onboard entertainment, dining, accommodations, recreational activities, and shore excursions.

The company’s principal brands include Royal Caribbean International, Celebrity Cruises, and Silversea Cruises.