Oppenheimer & Co. Inc. Has $5.56 Million Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Oppenheimer & Co. Inc. lifted its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 41.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,121 shares of the company's stock after purchasing an additional 7,109 shares during the period. Oppenheimer & Co. Inc.'s holdings in Royal Caribbean Cruises were worth $5,564,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RCL. Venturi Wealth Management LLC increased its position in shares of Royal Caribbean Cruises by 511.0% during the 4th quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company's stock valued at $498,000 after purchasing an additional 1,804 shares during the last quarter. Park Avenue Securities LLC raised its position in Royal Caribbean Cruises by 20.1% in the fourth quarter. Park Avenue Securities LLC now owns 6,630 shares of the company's stock worth $1,530,000 after acquiring an additional 1,111 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Royal Caribbean Cruises by 76.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company's stock worth $5,142,000 after purchasing an additional 12,530 shares during the period. Lorne Steinberg Wealth Management Inc. bought a new position in Royal Caribbean Cruises during the fourth quarter valued at $231,000. Finally, Principal Financial Group Inc. increased its position in Royal Caribbean Cruises by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 291,027 shares of the company's stock worth $67,137,000 after buying an additional 7,740 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RCL has been the subject of several recent research reports. Morgan Stanley lifted their price objective 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. Sanford C. Bernstein began coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, November 26th. They issued an "outperform" rating and a $290.00 price target on the stock. Mizuho reaffirmed an "outperform" rating and issued a $253.00 price objective (down from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. The Goldman Sachs Group lowered their target price on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Finally, StockNews.com raised Royal Caribbean Cruises from a "sell" rating to a "hold" rating in a report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $284.12.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the sale, the insider now directly owns 21,155 shares in the company, valued at $5,539,648.30. This represents a 41.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jason T. Liberty sold 58,000 shares of the business's stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 143,214 shares in the company, valued at $37,514,907.30. This represents a 28.83 % 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 over the last quarter. 7.95% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Stock Down 2.2 %

RCL traded down $5.39 on Monday, hitting $240.71. 2,413,398 shares of the company were exchanged, compared to its average volume of 2,505,302. Royal Caribbean Cruises Ltd. has a twelve month low of $124.24 and a twelve month high of $277.08. The company has a market cap of $64.78 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 0.90 and a beta of 2.59. 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 50-day moving average price of $244.80 and a two-hundred day moving average price of $216.92.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data 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 net margin of 17.46% and a return on equity of 48.97%. During the same period last year, the firm posted $1.25 EPS. On average, equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be given a $0.75 dividend. 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 yield of 1.25%. Royal Caribbean Cruises's dividend payout ratio (DPR) is 28.06%.

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

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.