DnB Asset Management AS Has $10.08 Million Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

DnB Asset Management AS grew its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,690 shares of the company's stock after purchasing an additional 2,608 shares during the period. DnB Asset Management AS's holdings in Royal Caribbean Cruises were worth $10,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Royal Caribbean Cruises during the fourth quarter worth approximately $707,833,000. Vanguard Group Inc. lifted its position in shares of Royal Caribbean Cruises by 8.0% during 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 during the last quarter. National Pension Service boosted its stake in shares of Royal Caribbean Cruises by 138.9% during the 4th quarter. National Pension Service now owns 864,049 shares of the company's stock worth $199,327,000 after acquiring an additional 502,349 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter worth $69,556,000. Finally, AustralianSuper Pty Ltd grew its holdings in shares of Royal Caribbean Cruises by 2,042.8% in the 4th quarter. AustralianSuper Pty Ltd now owns 122,887 shares of the company's stock worth $28,349,000 after acquiring an additional 117,152 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company's stock.

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Royal Caribbean Cruises Stock Up 1.2 %

RCL stock traded up $2.43 during mid-day trading on Tuesday, hitting $207.87. The stock had a trading volume of 2,077,605 shares, compared to its average volume of 2,322,155. The stock has a market capitalization of $55.94 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 0.90 and a beta of 2.53. 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 1-year low of $125.06 and a 1-year high of $277.08. The company has a fifty day moving average of $237.90 and a 200 day moving average of $224.44.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data 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 return on equity of 48.97% and a net margin of 17.46%. During the same period in the prior year, the company earned $1.25 EPS. On average, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its board has approved a share buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The firm also recently disclosed 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 represents a $3.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Royal Caribbean Cruises's previous quarterly dividend of $0.55. Royal Caribbean Cruises's payout ratio is presently 28.06%.

Insider Buying and Selling

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the sale, the insider now owns 21,155 shares of the company's stock, valued at $5,539,648.30. The trade was a 41.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jason T. Liberty sold 58,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total value of $15,193,100.00. Following the sale, the chief executive officer now owns 143,214 shares of the company's stock, valued at approximately $37,514,907.30. This trade represents a 28.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,492 shares of company stock worth $28,571,705. Corporate insiders own 7.95% of the company's stock.

Wall Street Analysts Forecast Growth

RCL has been the subject of a number of recent analyst reports. Jefferies Financial Group started coverage on Royal Caribbean Cruises in a research report on Monday. They issued a "hold" rating and a $230.00 price target for the company. Wells Fargo & Company raised their target price on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an "overweight" rating in a report on Monday, January 27th. Mizuho reissued an "outperform" rating and issued a $253.00 target price (down from $255.00) on shares of Royal Caribbean Cruises in a research report on Thursday, January 23rd. Truist Financial upped their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. Finally, Loop Capital upgraded shares of Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 price objective on the stock in a research report on Wednesday, March 5th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $279.58.

About Royal Caribbean Cruises

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.