Korea Investment CORP Reduces Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Korea Investment CORP lowered its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 10.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,513 shares of the company's stock after selling 14,245 shares during the quarter. Korea Investment CORP's holdings in Royal Caribbean Cruises were worth $27,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Graney & King LLC purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $69,000. Ausdal Financial Partners Inc. grew its stake in Royal Caribbean Cruises by 3.1% in the fourth quarter. Ausdal Financial Partners Inc. now owns 1,900 shares of the company's stock worth $438,000 after purchasing an additional 58 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in Royal Caribbean Cruises by 1.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 121,639 shares of the company's stock valued at $28,061,000 after buying an additional 2,240 shares during the period. Florida Financial Advisors LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $241,000. Finally, TIAA Trust National Association purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth about $272,000. Hedge funds and other institutional investors own 87.53% of the company's stock.

Insider Transactions at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 58,000 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the completion of the transaction, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laura H. Bethge sold 14,992 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders sold a total of 109,492 shares of company stock valued at $28,571,705 over the last 90 days. Company insiders own 7.95% of the company's stock.

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Analyst Upgrades and Downgrades

RCL has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their price target on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a "buy" rating for the company in a research report on Friday, January 24th. Morgan Stanley boosted their price target on Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Monday, February 3rd. Stifel Nicolaus lifted their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Truist Financial boosted 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. Finally, Loop Capital raised Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 price target for the company in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $279.58.

Royal Caribbean Cruises Stock Performance

Royal Caribbean Cruises stock traded up $1.09 during trading on Tuesday, reaching $206.53. The company had a trading volume of 1,364,930 shares, compared to its average volume of 2,725,889. The firm's 50-day simple moving average is $237.90 and its 200 day simple moving average is $224.44. 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 52 week low of $125.06 and a 52 week high of $277.08. The firm has a market capitalization of $55.58 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share 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 in the prior year, the company earned $1.25 EPS. Sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

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

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.