Keystone Investors PTE Ltd. Cuts Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Keystone Investors PTE Ltd. cut its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 19.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,124 shares of the company's stock after selling 13,147 shares during the quarter. Royal Caribbean Cruises makes up about 0.9% of Keystone Investors PTE Ltd.'s investment portfolio, making the stock its 22nd biggest position. Keystone Investors PTE Ltd.'s holdings in Royal Caribbean Cruises were worth $12,717,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RCL. Safe Harbor Fiduciary LLC bought a new stake in Royal Caribbean Cruises during the 3rd quarter valued at approximately $27,000. LRI Investments LLC purchased a new stake in Royal Caribbean Cruises during the 3rd quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $36,000. Truvestments Capital LLC purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $36,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Royal Caribbean Cruises during the fourth quarter worth $40,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Trading Down 4.6 %

Shares of NYSE RCL traded down $9.89 during midday trading on Friday, hitting $207.35. The company's stock had a trading volume of 2,547,926 shares, compared to its average volume of 2,316,864. Royal Caribbean Cruises Ltd. has a 12-month low of $125.06 and a 12-month high of $277.08. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The firm has a market cap of $55.80 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53. The business's 50 day moving average is $238.63 and its two-hundred day moving average is $223.72.

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Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released 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 return on equity of 48.97% and a net margin of 17.46%. During the same period last year, the business earned $1.25 EPS. As a group, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.45%. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises's payout ratio is 28.06%.

Royal Caribbean Cruises declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RCL. BNP Paribas began coverage on shares of Royal Caribbean Cruises in a research note on Thursday. They issued an "outperform" rating and a $262.00 price target on the stock. Truist Financial lifted their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. JPMorgan Chase & Co. raised their price target on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Morgan Stanley upped their price objective on Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. Finally, Barclays raised their target price on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $282.33.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of the company's stock in a transaction on 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 completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard D. Fain sold 19,500 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value of $5,005,260.00. Following the transaction, the director now directly owns 185,021 shares in the company, valued at $47,491,190.28. The trade was a 9.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock worth $28,571,705 in the last three months. Corporate 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.