Summit Global Investments Purchases Shares of 1,657 Royal Caribbean Cruises Ltd. (NYSE:RCL)

Summit Global Investments acquired a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,657 shares of the company's stock, valued at approximately $382,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RCL. Dorsey & Whitney Trust CO LLC increased its holdings in Royal Caribbean Cruises by 2.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company's stock worth $470,000 after acquiring an additional 39 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Royal Caribbean Cruises by 1.6% in the fourth quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company's stock valued at $630,000 after purchasing an additional 42 shares during the period. Hemington Wealth Management increased its stake in shares of 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 purchasing an additional 44 shares in the last quarter. Verdence Capital Advisors LLC raised its position in shares of Royal Caribbean Cruises by 3.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company's stock worth $313,000 after purchasing an additional 47 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of Royal Caribbean Cruises by 2.2% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company's stock worth $544,000 after purchasing an additional 50 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several research firms have commented on RCL. BNP Paribas started coverage on Royal Caribbean Cruises in a research note on Thursday. They set an "outperform" rating and a $262.00 price objective for the company. Macquarie boosted their price target on Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. UBS Group raised their price objective on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Morgan Stanley upped their target price on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. Finally, Tigress Financial raised their price target on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $282.33.

Royal Caribbean Cruises Trading Down 4.6 %

NYSE:RCL traded down $9.89 on Friday, reaching $207.35. The company's stock had a trading volume of 2,547,926 shares, compared to its average volume of 2,316,863. The firm has a market cap of $55.80 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a 12-month low of $125.06 and a 12-month high of $277.08. The stock has a 50 day moving average price of $239.31 and a 200 day moving average price of $222.94.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating analysts' consensus estimates 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 period in the previous year, the company earned $1.25 EPS. On average, equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.45%. 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. Royal Caribbean Cruises's dividend payout ratio is 28.06%.

Royal Caribbean Cruises declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 58,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was 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 directly owns 143,214 shares in the company, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the completion of the transaction, the director now directly owns 185,021 shares of the company's stock, valued at approximately $47,491,190.28. This represents a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,492 shares of company stock worth $28,571,705 over the last ninety days. Company insiders own 7.95% of the company's stock.

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.