Proficio Capital Partners LLC Buys New Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Proficio Capital Partners LLC acquired a new stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,307 shares of the company's stock, valued at approximately $302,000.

A number of other large investors have also added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its holdings in shares of Royal Caribbean Cruises by 511.0% during the fourth quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company's stock valued at $498,000 after acquiring an additional 1,804 shares in the last quarter. Park Avenue Securities LLC increased its stake in Royal Caribbean Cruises by 20.1% during the 4th quarter. Park Avenue Securities LLC now owns 6,630 shares of the company's stock valued at $1,530,000 after purchasing an additional 1,111 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Royal Caribbean Cruises by 76.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company's stock valued at $5,142,000 after purchasing an additional 12,530 shares in the last quarter. Lorne Steinberg Wealth Management Inc. purchased a new position in Royal Caribbean Cruises in the fourth quarter worth about $231,000. Finally, Principal Financial Group Inc. lifted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 87.53% of the company's stock.

Insider Buying and Selling

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,500 shares of the company'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 value of $5,005,260.00. Following the completion of the transaction, the director now directly owns 185,021 shares in the company, valued at $47,491,190.28. This represents a 9.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the 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 directly owns 143,214 shares of the company's stock, valued at approximately $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. In the last quarter, insiders sold 109,492 shares of company stock valued at $28,571,705. Company insiders own 7.95% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Susquehanna restated a "positive" rating on shares of Royal Caribbean Cruises in a report on Tuesday, March 25th. UBS Group lifted their target price on Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Wells Fargo & Company upped their price target on Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Stifel Nicolaus lifted their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, December 6th. 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 research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of "Moderate Buy" and a consensus price target of $282.33.

Royal Caribbean Cruises Stock Performance

NYSE:RCL traded down $9.89 during mid-day trading on Friday, hitting $207.35. 2,547,926 shares of the company traded hands, compared to its average volume of 2,316,864. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The stock's fifty day moving average price is $238.63 and its 200-day moving average price is $224.15. The firm has a market cap of $55.80 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53. Royal Caribbean Cruises Ltd. has a one year low of $125.06 and a one year high of $277.08.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (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 business posted $1.25 earnings per share. Research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be paid a dividend of $0.75 per share. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. Royal Caribbean Cruises's payout ratio 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.