Puff Wealth Management LLC Invests $3.57 Million in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Puff Wealth Management LLC purchased a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 15,483 shares of the company's stock, valued at approximately $3,572,000. Royal Caribbean Cruises makes up about 5.9% of Puff Wealth Management LLC's investment portfolio, making the stock its 2nd biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hemington Wealth Management increased its holdings in Royal Caribbean Cruises by 9.0% during the 4th quarter. Hemington Wealth Management now owns 533 shares of the company's stock valued at $123,000 after acquiring an additional 44 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in Royal Caribbean Cruises by 2.2% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company's stock valued at $544,000 after acquiring an additional 50 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in shares of Royal Caribbean Cruises by 12.3% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 457 shares of the company's stock worth $106,000 after buying an additional 50 shares in the last quarter. DT Investment Partners LLC raised its position in shares of Royal Caribbean Cruises by 16.7% in the fourth quarter. DT Investment Partners LLC now owns 350 shares of the company's stock valued at $81,000 after buying an additional 50 shares during the last quarter. Finally, FSM Wealth Advisors LLC raised its position in shares of Royal Caribbean Cruises by 3.2% in the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company's stock valued at $290,000 after buying an additional 51 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Trading Up 0.8 %

Shares of RCL traded up $2.17 during trading hours on Wednesday, hitting $263.97. The stock had a trading volume of 1,631,221 shares, compared to its average volume of 2,225,337. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The firm has a market cap of $70.98 billion, a P/E ratio of 24.69, a P/E/G ratio of 0.98 and a beta of 2.59. The company's fifty day simple moving average is $244.20 and its 200 day simple moving average is $211.17. Royal Caribbean Cruises Ltd. has a 12-month low of $113.10 and a 12-month high of $277.08.

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 (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same period in the prior year, the company posted $1.25 earnings per share. Equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has authorized a stock repurchase plan 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 plans are typically a sign that the company's board of directors 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. Investors of record on Friday, March 7th will be issued a $0.75 dividend. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, March 7th. Royal Caribbean Cruises's dividend payout ratio is currently 20.58%.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,500 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the completion of the sale, the director now directly owns 185,021 shares in the company, valued at $47,491,190.28. This trade represents a 9.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $237.89, for a total value of $33,150,685.17. Following the sale, the director now owns 18,167,507 shares of the company's stock, valued at $4,321,868,240.23. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.95% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Tigress Financial lifted their target price on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Susquehanna increased their price target on Royal Caribbean Cruises from $245.00 to $305.00 and gave the stock a "positive" rating in a research note on Wednesday, January 29th. Barclays increased their price target on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Citigroup increased their price target on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group reduced their price target on Royal Caribbean Cruises from $275.00 to $270.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $284.12.

About Royal Caribbean Cruises

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.