Allstate Corp Takes $1.67 Million Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Allstate Corp purchased a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,235 shares of the company's stock, valued at approximately $1,669,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Royal Caribbean Cruises by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company's stock valued at $6,476,003,000 after acquiring an additional 2,068,114 shares in the last quarter. Norges Bank bought a new stake in shares of Royal Caribbean Cruises in the fourth quarter worth $707,833,000. Charles Schwab Investment Management Inc. boosted its holdings in Royal Caribbean Cruises by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,519,000 shares of the company's stock worth $350,418,000 after purchasing an additional 48,480 shares during the last quarter. National Pension Service grew its position in Royal Caribbean Cruises by 138.9% in the fourth quarter. National Pension Service now owns 864,049 shares of the company's stock valued at $199,327,000 after purchasing an additional 502,349 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its stake in Royal Caribbean Cruises by 2.3% in 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 last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Performance

NYSE RCL traded up $2.43 on Tuesday, reaching $207.87. The stock had a trading volume of 2,077,605 shares, compared to its average volume of 2,322,155. Royal Caribbean Cruises Ltd. has a 1-year low of $125.06 and a 1-year high of $277.08. 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 market cap of $55.94 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53. The firm has a fifty day moving average of $237.90 and a two-hundred day moving average of $224.44.

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Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping 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 quarter last year, the business earned $1.25 EPS. On average, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be paid a $0.75 dividend. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises's payout ratio is 28.06%.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays raised their price objective on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Stifel Nicolaus upped their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Loop Capital raised shares of Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 target price for the company in a research note on Wednesday, March 5th. UBS Group boosted their target price on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Finally, The Goldman Sachs Group cut their price target on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a "buy" rating for the company in a research note on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $279.58.

Insider Buying and Selling

In related news, CFO Naftali Holtz sold 17,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total value of $4,447,540.00. Following the completion of the transaction, the chief financial officer now owns 42,127 shares of the company's stock, valued at $11,021,265.74. The trade was a 28.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason T. Liberty sold 58,000 shares of the 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 sale, the chief executive officer now owns 143,214 shares in the company, valued at $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 have sold 109,492 shares of company stock valued at $28,571,705 over the last 90 days. 7.95% of the stock is owned by corporate 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.