Federated Hermes Inc. cut its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 38.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 325,115 shares of the company's stock after selling 201,010 shares during the period. Federated Hermes Inc. owned 0.12% of Royal Caribbean Cruises worth $75,003,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of RCL. Norges Bank bought a new position in shares of Royal Caribbean Cruises during the fourth quarter worth $707,833,000. Vanguard Group Inc. grew its stake in Royal Caribbean Cruises by 8.0% in the fourth 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 period. National Pension Service raised its position in shares of Royal Caribbean Cruises by 138.9% during the fourth quarter. National Pension Service now owns 864,049 shares of the company's stock worth $199,327,000 after purchasing an additional 502,349 shares during the period. Geode Capital Management LLC grew its position in shares of Royal Caribbean Cruises by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock valued at $1,373,856,000 after purchasing an additional 353,893 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $69,556,000. Institutional investors own 87.53% of the company's stock.
Royal Caribbean Cruises Price Performance
Shares of Royal Caribbean Cruises stock traded down $0.53 on Friday, reaching $191.98. 2,889,378 shares of the stock were exchanged, compared to its average volume of 2,359,141. The firm's 50 day moving average is $224.70 and its 200-day moving average is $225.30. The firm has a market cap of $51.67 billion, a PE ratio of 17.96, a P/E/G ratio of 0.90 and a beta of 2.26. Royal Caribbean Cruises Ltd. has a one year low of $125.06 and a one year high of $277.08. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating 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, analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.
Royal Caribbean Cruises announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.
Royal Caribbean Cruises Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 7th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.56%. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. Royal Caribbean Cruises's dividend payout ratio is currently 28.06%.
Insider Activity
In other news, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises 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 completion of the sale, the insider now owns 21,155 shares in the company, valued at $5,539,648.30. The trade was a 41.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 transaction, the chief executive officer now directly owns 143,214 shares in the company, valued at $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 90 days, insiders sold 109,492 shares of company stock valued at $28,571,705. Insiders own 7.95% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on RCL shares. Susquehanna reissued a "positive" rating on shares of Royal Caribbean Cruises in a research report on Tuesday, March 25th. Morgan Stanley decreased their price objective on Royal Caribbean Cruises from $270.00 to $220.00 and set an "equal weight" rating for the company in a report on Thursday. Wells Fargo & Company upped their price target on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Tigress Financial lifted their price target on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Finally, Barclays increased their price target on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of "Moderate Buy" and a consensus price target of $276.95.
Read Our Latest Report on RCL
Royal Caribbean Cruises Company Profile
(
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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