Forest Avenue Capital Management LP Has $38.15 Million Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Forest Avenue Capital Management LP lessened its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 26.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,359 shares of the company's stock after selling 60,552 shares during the period. Royal Caribbean Cruises makes up 3.5% of Forest Avenue Capital Management LP's holdings, making the stock its 14th biggest position. Forest Avenue Capital Management LP owned approximately 0.06% of Royal Caribbean Cruises worth $38,147,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RCL. SOA Wealth Advisors LLC. raised its holdings in shares of Royal Caribbean Cruises by 33.3% during the third quarter. SOA Wealth Advisors LLC. now owns 300 shares of the company's stock valued at $53,000 after acquiring an additional 75 shares during the last quarter. Anchor Investment Management LLC increased its stake in Royal Caribbean Cruises by 175.0% during the third quarter. Anchor Investment Management LLC now owns 319 shares of the company's stock worth $57,000 after purchasing an additional 203 shares during the period. Sanctuary Advisors LLC grew its stake in Royal Caribbean Cruises by 76.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company's stock worth $5,142,000 after purchasing an additional 12,530 shares in the last quarter. World Investment Advisors LLC acquired a new stake in Royal Caribbean Cruises in the third quarter valued at $7,107,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at $109,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RCL has been the subject of several analyst reports. Citigroup upped 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. Stifel Nicolaus reduced their price target on shares of Royal Caribbean Cruises from $310.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. increased their price objective on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Jefferies Financial Group began coverage on Royal Caribbean Cruises in a research note on Monday, March 31st. They issued a "hold" rating and a $230.00 target price for the company. Finally, BNP Paribas initiated coverage on shares of Royal Caribbean Cruises in a report on Thursday, March 27th. They issued an "outperform" rating and a $262.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises has an average rating of "Moderate Buy" and a consensus price target of $276.95.

Royal Caribbean Cruises Stock Performance

RCL stock traded up $0.82 during midday trading on Friday, hitting $192.52. 1,167,960 shares of the company traded hands, compared to its average volume of 2,336,920. The stock has a market capitalization of $51.81 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 0.90 and a beta of 2.26. Royal Caribbean Cruises Ltd. has a twelve month low of $127.10 and a twelve month high of $277.08. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The business has a 50 day simple moving average of $218.83 and a 200-day simple moving average of $225.35.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued 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 return on equity of 48.97% and a net margin of 17.46%. During the same quarter last year, the firm earned $1.25 earnings per share. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 7th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.55. Royal Caribbean Cruises's payout ratio is 28.06%.

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

Insider Buying and Selling at Royal Caribbean Cruises

In related news, CFO Naftali Holtz sold 17,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the completion of the transaction, the chief financial officer now directly owns 42,127 shares in the company, valued at approximately $11,021,265.74. This trade represents a 28.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total value of $15,193,100.00. Following the completion of the sale, the chief executive officer now directly owns 143,214 shares of the company's stock, valued at approximately $37,514,907.30. The trade was a 28.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,492 shares of company stock worth $28,571,705. Company insiders own 7.95% of the company's stock.

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.