Qtron Investments LLC reduced its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 24.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,096 shares of the company's stock after selling 2,002 shares during the quarter. Qtron Investments LLC's holdings in Royal Caribbean Cruises were worth $1,406,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC increased its stake in Royal Caribbean Cruises by 2.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company's stock worth $470,000 after buying an additional 39 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Royal Caribbean Cruises by 1.6% in the 4th quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company's stock valued at $630,000 after buying an additional 42 shares during the period. Hemington Wealth Management increased its stake in shares of Royal Caribbean Cruises by 9.0% during the fourth quarter. Hemington Wealth Management now owns 533 shares of the company's stock valued at $123,000 after buying an additional 44 shares during the period. Verdence Capital Advisors LLC increased its holdings in shares of Royal Caribbean Cruises by 3.6% in the 4th quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company's stock valued at $313,000 after acquiring an additional 47 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of 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 purchasing an additional 50 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 143,214 shares of the company's stock, valued at $37,514,907.30. This represents a 28.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard D. Fain sold 19,500 shares of the company'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 completion of the sale, the director now owns 185,021 shares in the company, valued at approximately $47,491,190.28. This represents a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
RCL has been the subject of several recent research reports. Susquehanna reaffirmed a "positive" rating on shares of Royal Caribbean Cruises in a report on Tuesday, March 25th. Barclays lifted their price objective on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Loop Capital upgraded Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 price target on the stock in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased their price objective on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Finally, Macquarie raised their price target on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $276.95.
Get Our Latest Analysis on RCL
Royal Caribbean Cruises Price Performance
Shares of RCL stock traded up $1.56 during trading hours on Tuesday, hitting $193.38. 2,116,484 shares of the company's stock were exchanged, compared to its average volume of 2,346,103. The firm has a market cap of $52.04 billion, a P/E ratio of 18.09, a P/E/G ratio of 0.90 and a beta of 2.26. Royal Caribbean Cruises Ltd. has a fifty-two week low of $125.06 and a fifty-two week high of $277.08. The firm has a 50 day moving average of $223.20 and a two-hundred day moving average of $225.70. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its 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 quarter in the prior year, the company earned $1.25 earnings per share. Sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.
Royal Caribbean Cruises declared that its board has authorized a share repurchase 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 shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its shares are undervalued.
Royal Caribbean Cruises Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 7th were 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 1.55%. The ex-dividend date was Friday, March 7th. Royal Caribbean Cruises's dividend payout ratio is currently 28.06%.
Royal Caribbean Cruises 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.
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