Allianz SE purchased a new stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,620 shares of the company's stock, valued at approximately $835,000.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Royal Caribbean Cruises by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company's stock valued at $6,476,003,000 after purchasing an additional 2,068,114 shares in the last quarter. Norges Bank bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at approximately $707,833,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Royal Caribbean Cruises by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,519,000 shares of the company's stock valued at $350,418,000 after purchasing an additional 48,480 shares during the last quarter. National Pension Service boosted its holdings in shares of Royal Caribbean Cruises by 138.9% in the 4th quarter. National Pension Service now owns 864,049 shares of the company's stock worth $199,327,000 after purchasing an additional 502,349 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised its holdings in Royal Caribbean Cruises by 2.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company's stock valued at $104,918,000 after buying an additional 13,520 shares during the period. Institutional investors own 87.53% of the company's stock.
Analyst Ratings Changes
Several research firms have recently issued reports on RCL. The Goldman Sachs Group lowered their target price on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a "buy" rating for the company in a report on Friday, January 24th. Loop Capital upgraded Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 price target on the stock in a report on Wednesday, March 5th. Barclays raised their price target on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Argus raised their price objective on Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Finally, Citigroup raised their target price on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $279.58.
Read Our Latest Stock Report on RCL
Insider Activity at Royal Caribbean Cruises
In related news, insider Laura H. Bethge sold 14,992 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the transaction, the insider now directly owns 21,155 shares in the company, valued at approximately $5,539,648.30. This represents a 41.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction on 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 owns 185,021 shares in the company, valued at $47,491,190.28. The trade was a 9.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,492 shares of company stock worth $28,571,705 over the last 90 days. Company insiders own 7.95% of the company's stock.
Royal Caribbean Cruises Stock Down 9.5 %
Shares of NYSE:RCL traded down $20.14 during trading on Thursday, hitting $191.91. 3,417,342 shares of the company were exchanged, compared to its average volume of 2,315,540. Royal Caribbean Cruises Ltd. has a 12-month low of $125.06 and a 12-month high of $277.08. The stock has a market capitalization of $51.65 billion, a P/E ratio of 17.89, a PEG ratio of 0.90 and a beta of 2.53. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The firm's 50 day moving average price is $236.72 and its 200-day moving average price is $224.63.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced 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 business earned $1.25 earnings per share. On average, research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.
Royal Caribbean Cruises Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be given a $0.75 dividend. 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 yield of 1.56%. Royal Caribbean Cruises's dividend payout ratio is presently 28.06%.
Royal Caribbean Cruises declared that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.
About Royal Caribbean Cruises
(
Free Report)
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.
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