Dorsey Wright & Associates Acquires New Shares in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Dorsey Wright & Associates acquired a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 18,297 shares of the company's stock, valued at approximately $4,221,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Safe Harbor Fiduciary LLC purchased a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $27,000. Brown Brothers Harriman & Co. lifted its position in Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after purchasing an additional 99 shares during the period. LRI Investments LLC purchased a new stake in Royal Caribbean Cruises in the third quarter worth approximately $31,000. Bay Harbor Wealth Management LLC bought a new stake in Royal Caribbean Cruises in the 4th quarter worth approximately $36,000. Finally, Truvestments Capital LLC bought a new position in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $36,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Up 1.2 %

NYSE RCL traded up $2.43 during trading on Tuesday, hitting $207.87. The stock had a trading volume of 2,077,605 shares, compared to its average volume of 2,322,156. The company's 50-day moving average price is $237.90 and its two-hundred day moving average price is $224.44. Royal Caribbean Cruises Ltd. has a 12 month low of $125.06 and a 12 month high of $277.08. 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 company has a market capitalization of $55.94 billion, a PE ratio of 19.44, a P/E/G ratio of 0.90 and a beta of 2.53.

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Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data 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 return on equity of 48.97% and a net margin of 17.46%. During the same period last year, the business posted $1.25 EPS. As a group, sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be paid a $0.75 dividend. This is a positive change from Royal Caribbean Cruises's previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises's dividend payout ratio is currently 28.06%.

Royal Caribbean Cruises announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Susquehanna reiterated a "positive" rating on shares of Royal Caribbean Cruises in a research report on Tuesday, March 25th. Barclays lifted their target price on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Macquarie boosted their target price on Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, Citigroup upped their target price on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Royal Caribbean Cruises has a consensus rating of "Moderate Buy" and an average target price of $279.58.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the sale, the insider now directly owns 21,155 shares of the company's stock, valued at $5,539,648.30. This trade represents a 41.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jason T. Liberty sold 58,000 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total value of $15,193,100.00. Following the completion of the sale, 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 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 three months. 7.95% of the stock is owned by company insiders.

Royal Caribbean Cruises 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.