Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 22.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,354 shares of the company's stock after buying an additional 36,519 shares during the period. Nomura Asset Management Co. Ltd. owned 0.07% of Royal Caribbean Cruises worth $45,758,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of RCL. Raymond James Trust N.A. purchased a new position in Royal Caribbean Cruises during the 3rd quarter worth approximately $202,000. Bridgewater Associates LP acquired a new stake in shares of Royal Caribbean Cruises in the third quarter valued at approximately $4,779,000. Glenmede Trust Co. NA grew its position in shares of Royal Caribbean Cruises by 1.8% during the third quarter. Glenmede Trust Co. NA now owns 6,080 shares of the company's stock worth $1,078,000 after acquiring an additional 110 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at $14,544,000. Finally, CreativeOne Wealth LLC raised its position in Royal Caribbean Cruises by 459.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 7,812 shares of the company's stock valued at $1,386,000 after purchasing an additional 6,415 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL traded up $2.15 during midday trading on Tuesday, hitting $207.59. The company had a trading volume of 1,515,084 shares, compared to its average volume of 2,320,568. The firm has a market capitalization of $55.87 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53. Royal Caribbean Cruises Ltd. has a twelve month low of $125.06 and a twelve month high of $277.08. The business has a 50-day simple moving average of $237.90 and a two-hundred day simple moving average of $224.44. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39.

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Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 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 research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises declared that its board has authorized a stock repurchase program 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 programs are usually a sign that the company's board believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be issued a $0.75 dividend. This is a positive change 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 1.45%. Royal Caribbean Cruises's dividend payout ratio is 28.06%.

Insider Activity

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 shares were sold at an average price of $261.95, for a total value of $15,193,100.00. Following the sale, the chief executive officer now owns 143,214 shares of the company's stock, valued at $37,514,907.30. This represents a 28.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard D. Fain sold 19,500 shares of the firm's stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders sold a total of 109,492 shares of company stock worth $28,571,705 over the last 90 days. 7.95% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. 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. Morgan Stanley raised their price target 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. Tigress Financial upped their price objective on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Argus increased their price objective on Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Finally, BNP Paribas initiated coverage on Royal Caribbean Cruises in a report on Thursday, March 27th. They issued an "outperform" rating and a $262.00 target price on the stock. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $279.58.

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.