Nicholas Hoffman & Company LLC. acquired a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,023 shares of the company's stock, valued at approximately $236,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. D1 Capital Partners L.P. increased its position in shares of Royal Caribbean Cruises by 3.8% during the third quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company's stock worth $278,502,000 after purchasing an additional 58,159 shares in the last quarter. Swiss National Bank increased its position in shares of Royal Caribbean Cruises by 0.5% during the third quarter. Swiss National Bank now owns 725,638 shares of the company's stock worth $128,699,000 after purchasing an additional 3,800 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its position in shares of Royal Caribbean Cruises by 2.3% during the third quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company's stock worth $104,918,000 after purchasing an additional 13,520 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Royal Caribbean Cruises by 3.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 569,890 shares of the company's stock worth $131,468,000 after purchasing an additional 18,868 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Royal Caribbean Cruises by 10,599.0% during the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company's stock worth $72,696,000 after purchasing an additional 406,048 shares in the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.
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 dated Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the sale, the chief executive officer now owns 143,214 shares in the company, valued at $37,514,907.30. This represents a 28.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Naftali Holtz sold 17,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total value of $4,447,540.00. Following the sale, the chief financial officer now owns 42,127 shares in the company, valued at approximately $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. 7.95% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several brokerages recently commented on RCL. Truist Financial boosted their price target on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. Tigress Financial upped their target price on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a "buy" rating in a report on Friday, February 7th. Barclays upped their target price on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. UBS Group upped their target price on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Finally, Wells Fargo & Company upped their target price on Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Royal Caribbean Cruises presently has a consensus rating of "Moderate Buy" and an average target price of $284.12.
Check Out Our Latest Stock Analysis on Royal Caribbean Cruises
Royal Caribbean Cruises Trading Down 0.7 %
RCL traded down $1.78 during mid-day trading on Friday, hitting $242.11. 899,684 shares of the stock were exchanged, compared to its average volume of 2,377,893. The firm's fifty day moving average is $244.57 and its two-hundred day moving average is $211.77. Royal Caribbean Cruises Ltd. has a 1-year low of $119.48 and a 1-year 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 company has a market cap of $65.16 billion, a PE ratio of 22.66, a PEG ratio of 0.98 and a beta of 2.59.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) 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 quarter last year, the business posted $1.25 EPS. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.
Royal Caribbean Cruises declared that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.
Royal Caribbean Cruises Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.75 per share. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. This represents a $3.00 annualized dividend and a yield of 1.24%. Royal Caribbean Cruises's dividend payout ratio is 28.06%.
About Royal Caribbean Cruises
(
Free Report)
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.
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