Corient Private Wealth LLC lowered its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,691 shares of the company's stock after selling 31,822 shares during the period. Corient Private Wealth LLC's holdings in Royal Caribbean Cruises were worth $11,002,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Safe Harbor Fiduciary LLC purchased a new stake in shares of Royal Caribbean Cruises in the third quarter valued at $27,000. LRI Investments LLC purchased a new stake in Royal Caribbean Cruises during the third quarter valued at about $31,000. Bay Harbor Wealth Management LLC purchased a new stake in Royal Caribbean Cruises during the fourth quarter valued at about $36,000. Truvestments Capital LLC purchased a new stake in Royal Caribbean Cruises during the fourth quarter valued at about $36,000. Finally, ORG Wealth Partners LLC purchased a new stake in Royal Caribbean Cruises during the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 87.53% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. UBS Group boosted their price target on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Tigress Financial boosted their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. 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 research note on Wednesday, March 5th. Barclays boosted 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. Finally, Morgan Stanley upped their target price on Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and an average price target of $283.53.
View Our Latest Research Report on Royal Caribbean Cruises
Royal Caribbean Cruises Stock Up 0.5 %
RCL stock traded up $1.04 during midday trading on Friday, hitting $215.76. The company's stock had a trading volume of 3,608,502 shares, compared to its average volume of 2,274,948. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. Royal Caribbean Cruises Ltd. has a twelve month low of $125.06 and a twelve month high of $277.08. The company's fifty day moving average price is $240.00 and its 200 day moving average price is $221.60. The stock has a market capitalization of $58.07 billion, a P/E ratio of 20.18, a PEG ratio of 0.90 and a beta of 2.53.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate 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 firm posted $1.25 EPS. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current 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 issued a $0.75 dividend. 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 1.39%. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. Royal Caribbean Cruises's payout ratio is currently 28.06%.
Royal Caribbean Cruises declared that its board has authorized a stock repurchase program on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.
Insider Transactions at Royal Caribbean Cruises
In other news, Director Richard D. Fain sold 19,500 shares of the stock in a transaction 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 sale, the director now directly owns 185,021 shares in the company, valued at $47,491,190.28. This represents a 9.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 143,214 shares in the company, valued at approximately $37,514,907.30. This represents a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,492 shares of company stock valued at $28,571,705. Company insiders own 7.95% of the company's stock.
Royal Caribbean Cruises Profile
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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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