Patten & Patten Inc. TN Cuts Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Patten & Patten Inc. TN trimmed its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 12.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,085 shares of the company’s stock after selling 450 shares during the period. Patten & Patten Inc. TN’s holdings in Royal Caribbean Cruises were worth $547,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Capital International Investors boosted its position in Royal Caribbean Cruises by 1.0% during the first quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock valued at $4,114,203,000 after buying an additional 286,868 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Royal Caribbean Cruises by 0.5% during the first quarter. Vanguard Group Inc. now owns 25,409,272 shares of the company’s stock worth $3,532,143,000 after purchasing an additional 132,079 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Royal Caribbean Cruises by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after purchasing an additional 400,565 shares during the last quarter. D1 Capital Partners L.P. grew its stake in shares of Royal Caribbean Cruises by 105.7% in the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock worth $241,075,000 after purchasing an additional 777,103 shares during the last quarter. Finally, Capital International Inc. CA grew its stake in shares of Royal Caribbean Cruises by 3.3% in the first quarter. Capital International Inc. CA now owns 601,917 shares of the company’s stock worth $83,672,000 after purchasing an additional 19,065 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RCL has been the topic of several recent analyst reports. The Goldman Sachs Group raised their target price on Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Macquarie raised their target price on Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup raised their target price on Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Truist Financial raised their target price on Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Bank of America lifted their price objective on Royal Caribbean Cruises from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $218.00.

Royal Caribbean Cruises Price Performance

RCL stock opened at $234.82 on Tuesday. The firm has a 50 day moving average price of $186.20 and a 200-day moving average price of $165.00. Royal Caribbean Cruises Ltd. has a 52-week low of $93.80 and a 52-week high of $234.96. The firm has a market capitalization of $63.14 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 0.59 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the business earned $3.85 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. Equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total value of $1,401,812.73. Following the completion of the transaction, the chief accounting officer now directly owns 9,964 shares in the company, valued at $2,077,593.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total value of $1,401,812.73. Following the completion of the transaction, the chief accounting officer now directly owns 9,964 shares in the company, valued at $2,077,593.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,596 shares of company stock worth $8,090,059 in the last three months. Insiders own 7.95% of the company’s stock.

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.