Mariner LLC Increases Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Mariner LLC lifted its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,451 shares of the company's stock after purchasing an additional 5,376 shares during the quarter. Mariner LLC's holdings in Royal Caribbean Cruises were worth $19,484,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Brown Brothers Harriman & Co. boosted its position in Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after buying an additional 99 shares during the period. Bay Harbor Wealth Management LLC bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at about $36,000. Truvestments Capital LLC purchased a new stake in Royal Caribbean Cruises during the 4th quarter valued at about $36,000. ORG Wealth Partners LLC bought a new position in Royal Caribbean Cruises during the 4th quarter worth approximately $40,000. Finally, Atlantic Edge Private Wealth Management LLC increased its stake in Royal Caribbean Cruises by 100.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company's stock worth $46,000 after purchasing an additional 100 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Richard D. Fain sold 19,500 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the transaction, the director now owns 185,021 shares in the company, valued at approximately $47,491,190.28. This represents a 9.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Naftali Holtz sold 17,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the sale, the chief financial officer now directly owns 42,127 shares of the company's stock, valued at $11,021,265.74. This trade represents a 28.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,492 shares of company stock worth $28,571,705 in the last quarter. Corporate insiders own 7.95% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. BNP Paribas began 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. Morgan Stanley lowered their price objective on shares of Royal Caribbean Cruises from $270.00 to $220.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Barclays raised their target price on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Finally, Macquarie increased their price objective on Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Four equities research 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, Royal Caribbean Cruises has a consensus rating of "Moderate Buy" and a consensus price target of $276.95.

Royal Caribbean Cruises Stock Up 0.4 %

RCL traded up $0.82 during midday trading on Friday, reaching $192.52. The company's stock had a trading volume of 1,167,960 shares, compared to its average volume of 2,335,825. Royal Caribbean Cruises Ltd. has a 1 year low of $129.54 and a 1 year high of $277.08. The stock's 50-day moving average is $217.55 and its 200-day moving average is $225.83. The firm has a market capitalization of $51.81 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 0.90 and a beta of 2.26. 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 (NYSE:RCL - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate 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 posted $1.25 EPS. As a group, research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises announced that its board has approved a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 7th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was 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 currently 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.