Charles Schwab Investment Management Inc. raised its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,519,000 shares of the company's stock after acquiring an additional 48,480 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.56% of Royal Caribbean Cruises worth $350,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of RCL. Farther Finance Advisors LLC lifted its position in Royal Caribbean Cruises by 85.4% during the third quarter. Farther Finance Advisors LLC now owns 2,688 shares of the company's stock valued at $477,000 after purchasing an additional 1,238 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $182,000. Van ECK Associates Corp grew its stake in shares of Royal Caribbean Cruises by 48.0% during the 3rd quarter. Van ECK Associates Corp now owns 2,283 shares of the company's stock valued at $405,000 after acquiring an additional 740 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of Royal Caribbean Cruises by 0.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 126,569 shares of the company's stock valued at $22,448,000 after acquiring an additional 1,094 shares during the period. Finally, QRG Capital Management Inc. increased its holdings in Royal Caribbean Cruises by 7.7% in the 3rd quarter. QRG Capital Management Inc. now owns 41,569 shares of the company's stock worth $7,373,000 after acquiring an additional 2,956 shares in the last quarter. Institutional investors own 87.53% of the company's stock.
Royal Caribbean Cruises Price Performance
RCL traded down $1.95 during trading hours on Friday, hitting $213.59. The company's stock had a trading volume of 4,740,051 shares, compared to its average volume of 2,632,598. The stock has a market cap of $57.48 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 0.90 and a beta of 2.53. The business's 50-day moving average price is $243.51 and its 200-day moving average price is $218.26. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a 12 month low of $125.06 and a 12 month high of $277.08.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share 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 period in the prior year, the firm posted $1.25 EPS. Sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.
Royal Caribbean Cruises Increases Dividend
The business 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 represents a $3.00 annualized dividend and a dividend yield of 1.40%. 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. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 28.06%.
Royal Caribbean Cruises announced that its board has authorized a share buyback program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. UBS Group upped their price target 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. Tigress Financial upped their target price on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Citigroup increased their price target 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. JPMorgan Chase & Co. boosted their price objective on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Finally, Susquehanna dropped their price objective on Royal Caribbean Cruises from $305.00 to $295.00 and set a "positive" rating for the company in a research note on Wednesday. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $283.53.
View Our Latest Analysis on Royal Caribbean Cruises
Insider Transactions at Royal Caribbean Cruises
In other news, insider Laura H. Bethge sold 14,992 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total value of $3,925,805.12. Following the sale, the insider now owns 21,155 shares of the company's stock, valued at approximately $5,539,648.30. This represents a 41.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard D. Fain sold 19,500 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is currently owned by company insiders.
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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