NEOS Investment Management LLC Purchases 2,483 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

NEOS Investment Management LLC increased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 28.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,183 shares of the company's stock after purchasing an additional 2,483 shares during the quarter. NEOS Investment Management LLC's holdings in Royal Caribbean Cruises were worth $2,580,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Raymond James Trust N.A. bought a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at about $202,000. Bridgewater Associates LP bought a new position in Royal Caribbean Cruises during the 3rd quarter worth approximately $4,779,000. Glenmede Trust Co. NA lifted its position in shares of Royal Caribbean Cruises by 1.8% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,080 shares of the company's stock worth $1,078,000 after purchasing an additional 110 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at $14,544,000. Finally, CreativeOne Wealth LLC increased its position in shares of Royal Caribbean Cruises by 459.2% during the third quarter. CreativeOne Wealth LLC now owns 7,812 shares of the company's stock worth $1,386,000 after buying an additional 6,415 shares during the period. Institutional investors own 87.53% of the company's stock.

Royal Caribbean Cruises Price Performance

Shares of RCL traded up $1.83 during trading hours on Tuesday, reaching $207.27. 1,413,679 shares of the company's stock traded hands, compared to its average volume of 2,319,809. 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 stock has a market cap of $55.78 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53. The firm's 50 day simple moving average is $237.90 and its 200-day simple moving average is $224.44.

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Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 posted $1.25 earnings per share. Equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises announced that its board has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The company 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 dividend of $0.75 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Royal Caribbean Cruises's previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. Royal Caribbean Cruises's dividend payout ratio is 28.06%.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,500 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the transaction, the director now directly owns 185,021 shares of the company's stock, valued at approximately $47,491,190.28. This trade represents a 9.53 % decrease in their ownership of the stock. The sale 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 business's stock in a transaction dated 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. This trade represents 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 valued at $28,571,705. Corporate insiders own 7.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RCL. Loop Capital raised Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 price objective on the stock in a research note on Wednesday, March 5th. Jefferies Financial Group initiated coverage on shares of Royal Caribbean Cruises in a research report on Monday. They set a "hold" rating and a $230.00 price objective on the stock. The Goldman Sachs Group decreased their price objective on Royal Caribbean Cruises from $275.00 to $270.00 and set a "buy" rating for the company in a report on Friday, January 24th. BNP Paribas began coverage on shares of Royal Caribbean Cruises in a research report on Thursday, March 27th. They issued an "outperform" rating and a $262.00 price target for the company. Finally, Truist Financial boosted their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $279.58.

About Royal Caribbean Cruises

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.