Lorne Steinberg Wealth Management Inc. Invests $231,000 in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Lorne Steinberg Wealth Management Inc. bought a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,000 shares of the company's stock, valued at approximately $231,000.

A number of other institutional investors have also modified their holdings of RCL. Hemington Wealth Management raised its stake in Royal Caribbean Cruises by 9.0% during the fourth quarter. Hemington Wealth Management now owns 533 shares of the company's stock worth $123,000 after acquiring an additional 44 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in Royal Caribbean Cruises by 2.2% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company's stock worth $544,000 after acquiring an additional 50 shares during the period. Bartlett & CO. Wealth Management LLC raised its stake in Royal Caribbean Cruises by 12.3% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 457 shares of the company's stock worth $106,000 after acquiring an additional 50 shares during the period. DT Investment Partners LLC raised its stake in Royal Caribbean Cruises by 16.7% during the fourth quarter. DT Investment Partners LLC now owns 350 shares of the company's stock worth $81,000 after acquiring an additional 50 shares during the period. Finally, FSM Wealth Advisors LLC raised its stake in Royal Caribbean Cruises by 3.2% during the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company's stock worth $290,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 87.53% of the company's stock.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL traded down $19.81 during trading on Thursday, reaching $244.20. The company had a trading volume of 8,814,444 shares, compared to its average volume of 2,425,559. Royal Caribbean Cruises Ltd. has a 52 week low of $113.56 and a 52 week high of $277.08. The business's 50 day moving average price is $244.57 and its 200-day moving average price is $211.77. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The stock has a market cap of $65.72 billion, a PE ratio of 22.84, a PEG ratio of 0.97 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same quarter in the previous year, the business posted $1.25 earnings per share. Analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be given a dividend of $0.75 per share. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.23%. Royal Caribbean Cruises's payout ratio is currently 20.58%.

Insider Transactions at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 58,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the completion of the transaction, the chief executive officer now owns 143,214 shares in the company, valued at approximately $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard D. Fain sold 19,500 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the transaction, the director now owns 185,021 shares of the company's stock, valued at approximately $47,491,190.28. This represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,492 shares of company stock worth $28,571,705 in the last quarter. 7.95% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on RCL. Loop Capital began coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, February 4th. They issued a "hold" rating and a $250.00 target price for the company. Citigroup raised their target price on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Barclays increased their target price on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Stifel Nicolaus raised their target price on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, Morgan Stanley raised their price target on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of "Moderate Buy" and a consensus price target of $284.12.

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.