Advisory Services Network LLC Buys 4,857 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Advisory Services Network LLC grew its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 48.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,815 shares of the company's stock after purchasing an additional 4,857 shares during the period. Advisory Services Network LLC's holdings in Royal Caribbean Cruises were worth $3,418,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Brown Brothers Harriman & Co. raised its position in Royal Caribbean Cruises by 618.8% in the 4th 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 last quarter. Bay Harbor Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at about $36,000. Truvestments Capital LLC acquired a new position in Royal Caribbean Cruises during the 4th quarter worth about $36,000. ORG Wealth Partners LLC bought a new stake in Royal Caribbean Cruises during the 4th quarter worth about $40,000. Finally, LRI Investments LLC acquired a new stake in Royal Caribbean Cruises in the 3rd quarter valued at about $31,000. 87.53% of the stock is owned by institutional investors and hedge funds.

Royal Caribbean Cruises Trading Up 0.8 %

NYSE:RCL traded up $1.47 on Tuesday, reaching $193.29. The company's stock had a trading volume of 954,043 shares, compared to its average volume of 2,345,693. Royal Caribbean Cruises Ltd. has a 1-year low of $125.06 and a 1-year high of $277.08. The business's 50-day moving average price is $223.20 and its two-hundred day moving average price is $225.70. The firm has a market cap of $52.02 billion, a PE ratio of 18.08, a PEG ratio of 0.90 and a beta of 2.26. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17.

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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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm posted $1.25 earnings per share. Equities research analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 7th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.55. Royal Caribbean Cruises's dividend payout ratio is 28.06%.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RCL shares. UBS Group upped their target price on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Susquehanna reiterated a "positive" rating on shares of Royal Caribbean Cruises in a research report on Tuesday, March 25th. Mizuho restated an "outperform" rating and set a $253.00 target price (down previously from $255.00) on shares of Royal Caribbean Cruises in a research report on Thursday, January 23rd. Tigress Financial raised their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, Macquarie boosted their price objective on Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $276.95.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,500 shares of the firm'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 completion of the transaction, the director now directly owns 185,021 shares of the company's stock, valued at $47,491,190.28. This trade represents a 9.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Naftali Holtz sold 17,000 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the completion of the sale, the chief financial officer now directly owns 42,127 shares in the company, valued at approximately $11,021,265.74. This represents a 28.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,492 shares of company stock valued at $28,571,705. 7.95% of the stock is owned by 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.