Norges Bank Acquires Shares of 3,068,331 Royal Caribbean Cruises Ltd. (NYSE:RCL)

Norges Bank purchased a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,068,331 shares of the company's stock, valued at approximately $707,833,000. Norges Bank owned 1.14% of Royal Caribbean Cruises as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in RCL. Safe Harbor Fiduciary LLC purchased a new stake in Royal Caribbean Cruises in the 3rd quarter valued at approximately $27,000. LRI Investments LLC purchased a new stake in shares of Royal Caribbean Cruises in the third quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC acquired a new position in Royal Caribbean Cruises during the fourth quarter worth $36,000. Truvestments Capital LLC purchased a new position in Royal Caribbean Cruises in the fourth quarter worth $36,000. Finally, ORG Wealth Partners LLC acquired a new stake in Royal Caribbean Cruises in the fourth quarter valued at $40,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the completion of the sale, the insider now owns 21,155 shares of the company's stock, valued at approximately $5,539,648.30. The trade was a 41.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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 disclosure for this sale can be found here. Insiders sold 109,492 shares of company stock valued at $28,571,705 in the last ninety days. Company insiders own 7.95% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. BNP Paribas initiated coverage on shares of Royal Caribbean Cruises in a research note on Thursday, March 27th. They set an "outperform" rating and a $262.00 price target on the stock. Mizuho reaffirmed an "outperform" rating and issued a $253.00 target price (down from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Citigroup upped their price target on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Susquehanna reaffirmed a "positive" rating on shares of Royal Caribbean Cruises in a report on Tuesday, March 25th. 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 investment 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 presently has an average rating of "Moderate Buy" and an average price target of $279.58.

Royal Caribbean Cruises Trading Up 0.8 %

Royal Caribbean Cruises stock traded up $1.58 during trading on Tuesday, hitting $207.02. The company's stock had a trading volume of 803,306 shares, compared to its average volume of 2,716,581. The stock's fifty day moving average is $237.90 and its 200 day moving average is $224.44. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. Royal Caribbean Cruises Ltd. has a 1-year low of $125.06 and a 1-year high of $277.08. The stock has a market capitalization of $55.71 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating 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. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises announced that its board has initiated a stock repurchase program on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are 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 $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Royal Caribbean Cruises's previous quarterly dividend of $0.55. Royal Caribbean Cruises's dividend payout ratio (DPR) is 28.06%.

Royal Caribbean Cruises Company 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.