Drive Wealth Management LLC Buys New Position in Royal Caribbean Cruises Ltd. $RCL

Drive Wealth Management LLC purchased a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the 2nd quarter, HoldingsChannel reports. The firm purchased 826 shares of the company’s stock, valued at approximately $259,000.

Other large investors also recently modified their holdings of the company. LMG Wealth Partners LLC boosted its position in shares of Royal Caribbean Cruises by 13.8% in the second quarter. LMG Wealth Partners LLC now owns 2,244 shares of the company’s stock valued at $703,000 after acquiring an additional 272 shares during the period. Liberty Square Wealth Partners LLC bought a new stake in Royal Caribbean Cruises in the 2nd quarter valued at $281,000. Mezzasalma Advisors LLC grew its position in Royal Caribbean Cruises by 0.7% in the 2nd quarter. Mezzasalma Advisors LLC now owns 25,321 shares of the company’s stock worth $7,929,000 after purchasing an additional 167 shares during the last quarter. Sims Investment Management LLC grew its position in Royal Caribbean Cruises by 4.4% in the 2nd quarter. Sims Investment Management LLC now owns 1,566 shares of the company’s stock worth $490,000 after purchasing an additional 66 shares during the last quarter. Finally, ShoreHaven Wealth Partners LLC bought a new position in shares of Royal Caribbean Cruises during the 2nd quarter worth about $227,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Price Performance

Shares of RCL stock opened at $302.87 on Tuesday. The stock’s fifty day simple moving average is $329.18 and its 200 day simple moving average is $290.10. Royal Caribbean Cruises Ltd. has a one year low of $164.01 and a one year high of $366.50. The firm has a market cap of $82.27 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 0.84 and a beta of 2.08. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.23 and a quick ratio of 0.21.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.34. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%.The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the company posted $3.21 earnings per share. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. On average, analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 13th. Shareholders of record on Thursday, September 25th were paid a dividend of $1.00 per share. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.75. This represents a $4.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Thursday, September 25th. Royal Caribbean Cruises’s payout ratio is currently 29.99%.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 16,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $311.02, for a total transaction of $4,976,320.00. Following the sale, the director directly owned 150,291 shares in the company, valued at $46,743,506.82. This represents a 9.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Henry L. Pujol sold 5,207 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $329.47, for a total value of $1,715,550.29. Following the completion of the transaction, the chief accounting officer owned 7,826 shares of the company’s stock, valued at approximately $2,578,432.22. The trade was a 39.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,507 shares of company stock valued at $10,091,282. Corporate insiders own 6.95% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on RCL. Citigroup increased their target price on shares of Royal Caribbean Cruises from $390.00 to $399.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Mizuho reduced their price objective on Royal Caribbean Cruises from $372.00 to $362.00 and set an “outperform” rating for the company in a research report on Monday. Stifel Nicolaus boosted their price objective on Royal Caribbean Cruises from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. TD Cowen assumed coverage on Royal Caribbean Cruises in a research report on Tuesday, July 22nd. They issued a “buy” rating and a $405.00 target price for the company. Finally, William Blair reiterated an “outperform” rating on shares of Royal Caribbean Cruises in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus price target of $332.14.

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.