Okabena Investment Services Inc. lifted its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 46.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,952 shares of the company's stock after acquiring an additional 1,560 shares during the period. Okabena Investment Services Inc.'s holdings in Royal Caribbean Cruises were worth $1,142,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Brothers Harriman & Co. raised its holdings in Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after acquiring an additional 99 shares in the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $27,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at about $36,000. Truvestments Capital LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter valued at about $36,000. Finally, ORG Wealth Partners LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter worth about $40,000. Institutional investors own 87.53% of the company's stock.
Analyst Ratings Changes
Several research analysts have issued reports on the company. Tigress Financial increased their price objective on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. UBS Group increased their target price on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. The Goldman Sachs Group cut their price target on shares of 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 started 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 objective on the stock. Finally, Mizuho reiterated an "outperform" rating and issued a $253.00 target price (down previously from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $279.58.
View Our Latest Stock Analysis on RCL
Royal Caribbean Cruises Stock Up 1.2 %
Shares of NYSE RCL traded up $2.43 during mid-day trading on Tuesday, reaching $207.87. 2,009,999 shares of the company's stock were exchanged, compared to its average volume of 2,321,939. Royal Caribbean Cruises Ltd. has a twelve month low of $125.06 and a twelve 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 firm has a market capitalization of $55.94 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 0.90 and a beta of 2.53. The business has a fifty day simple moving average of $237.90 and a 200 day simple moving average of $224.44.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share 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 period last year, the company earned $1.25 EPS. As a group, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.
Royal Caribbean Cruises Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be paid a $0.75 dividend. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. Royal Caribbean Cruises's dividend payout ratio (DPR) is currently 28.06%.
Royal Caribbean Cruises declared that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.
Insider Activity
In related news, insider Laura H. Bethge sold 14,992 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the completion of the transaction, the insider now owns 21,155 shares in the company, valued at approximately $5,539,648.30. This represents a 41.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 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 directly owns 143,214 shares in the company, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their ownership of the stock. 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 over the last three months. Corporate insiders own 7.95% of the company's stock.
Royal Caribbean Cruises Company Profile
(
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.
Featured Articles
Before you consider Royal Caribbean Cruises, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Royal Caribbean Cruises wasn't on the list.
While Royal Caribbean Cruises currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
