Optimize Financial Inc bought a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,386 shares of the company's stock, valued at approximately $781,000.
Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Royal Caribbean Cruises in the fourth quarter worth $707,833,000. Vanguard Group Inc. raised its holdings in Royal Caribbean Cruises by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company's stock worth $6,476,003,000 after purchasing an additional 2,068,114 shares in the last quarter. National Pension Service lifted its position in shares of Royal Caribbean Cruises by 138.9% in the 4th quarter. National Pension Service now owns 864,049 shares of the company's stock worth $199,327,000 after purchasing an additional 502,349 shares during the period. Geode Capital Management LLC boosted its stake in shares of Royal Caribbean Cruises by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock valued at $1,373,856,000 after purchasing an additional 353,893 shares in the last quarter. Finally, Rathbones Group PLC increased its position in shares of Royal Caribbean Cruises by 15,633.2% during the fourth quarter. Rathbones Group PLC now owns 353,996 shares of the company's stock valued at $81,663,000 after buying an additional 351,746 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.
Royal Caribbean Cruises Stock Performance
Shares of Royal Caribbean Cruises stock traded up $1.56 during trading on Tuesday, hitting $193.38. 2,116,484 shares of the company's stock traded hands, compared to its average volume of 2,346,109. Royal Caribbean Cruises Ltd. has a 1 year low of $125.06 and a 1 year high of $277.08. The business has a 50-day simple moving average of $221.66 and a 200-day simple moving average of $225.48. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The stock has a market capitalization of $52.04 billion, a P/E ratio of 18.09, a PEG ratio of 0.90 and a beta of 2.26.
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 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 firm earned $1.25 earnings per share. As a group, analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.
Royal Caribbean Cruises Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 7th were paid a $0.75 dividend. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, March 7th. Royal Caribbean Cruises's dividend payout ratio (DPR) is 28.06%.
Royal Caribbean Cruises announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Susquehanna restated a "positive" rating on shares of Royal Caribbean Cruises in a report on Tuesday, March 25th. UBS Group raised their target price on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Morgan Stanley reduced their price target on Royal Caribbean Cruises from $270.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. The Goldman Sachs Group decreased their price objective on Royal Caribbean Cruises from $275.00 to $270.00 and set a "buy" rating for the company in a report on Friday, January 24th. Finally, Loop Capital upgraded shares of Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 target price on the stock in a report on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of "Moderate Buy" and an average price target of $276.95.
View Our Latest Stock Report on RCL
Insider Transactions at Royal Caribbean Cruises
In related news, Director Richard D. Fain sold 19,500 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the transaction, the director now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jason T. Liberty sold 58,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 of the company's stock, 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 in the last ninety days. Insiders own 7.95% of the company's stock.
Royal Caribbean Cruises Company Profile
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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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