Allspring Global Investments Holdings LLC Sells 36,919 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Allspring Global Investments Holdings LLC cut its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 22.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,186 shares of the company's stock after selling 36,919 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Royal Caribbean Cruises were worth $29,608,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Plato Investment Management Ltd purchased a new position in shares of Royal Caribbean Cruises during the third quarter valued at about $26,000. Safe Harbor Fiduciary LLC bought a new stake in Royal Caribbean Cruises during the 3rd quarter valued at approximately $27,000. LRI Investments LLC purchased a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth approximately $31,000. Bay Harbor Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $36,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $40,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,500 shares of the firm's 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 transaction, the director now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the sale, the director now owns 18,167,507 shares of the company's stock, valued at $4,321,868,240.23. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.95% of the company's stock.

Analyst Upgrades and Downgrades

RCL has been the topic of several recent research reports. Loop Capital started coverage on Royal Caribbean Cruises in a research note on Tuesday, February 4th. They issued a "hold" rating and a $250.00 price target on the stock. Truist Financial upped their target price on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. lifted their price target on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Macquarie boosted their price objective on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, Susquehanna raised their target price on shares of Royal Caribbean Cruises from $245.00 to $305.00 and gave the company a "positive" rating in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $284.12.

Royal Caribbean Cruises Trading Up 0.8 %

Shares of NYSE:RCL traded up $2.17 during trading on Wednesday, hitting $263.97. The company had a trading volume of 1,356,776 shares, compared to its average volume of 2,209,479. The stock has a market cap of $70.98 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 0.98 and a beta of 2.59. 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 company has a fifty day simple moving average of $244.20 and a two-hundred day simple moving average of $211.17. Royal Caribbean Cruises Ltd. has a one year low of $113.10 and a one year high of $277.08.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping 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 in the prior year, the firm earned $1.25 earnings per share. As a group, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

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

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.14%. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 20.58%.

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.