Renaissance Group LLC trimmed its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 28.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 148,446 shares of the company's stock after selling 58,860 shares during the quarter. Royal Caribbean Cruises comprises 1.4% of Renaissance Group LLC's holdings, making the stock its 29th largest position. Renaissance Group LLC owned approximately 0.06% of Royal Caribbean Cruises worth $34,245,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of RCL. Venturi Wealth Management LLC grew its position in Royal Caribbean Cruises by 511.0% during the 4th quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company's stock worth $498,000 after purchasing an additional 1,804 shares during the period. Park Avenue Securities LLC grew its holdings in Royal Caribbean Cruises by 20.1% during 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 position in Royal Caribbean Cruises by 76.1% during the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company's stock valued at $5,142,000 after acquiring an additional 12,530 shares in the last quarter. Lorne Steinberg Wealth Management Inc. acquired a new position in Royal Caribbean Cruises in the fourth quarter valued at approximately $231,000. Finally, Geode Capital Management LLC boosted its position in Royal Caribbean Cruises by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock worth $1,373,856,000 after purchasing an additional 353,893 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company's stock.
Royal Caribbean Cruises Price Performance
NYSE RCL traded down $0.53 during trading hours on Friday, hitting $191.98. 2,889,378 shares of the company's stock traded hands, compared to its average volume of 2,353,106. The company has a market capitalization of $51.67 billion, a PE ratio of 17.96, a PEG ratio of 0.90 and a beta of 2.26. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. Royal Caribbean Cruises Ltd. has a 52-week low of $125.06 and a 52-week high of $277.08. The firm's 50-day moving average is $224.70 and its 200-day moving average is $225.60.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 last year, the firm earned $1.25 earnings per share. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.
Royal Caribbean Cruises Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 7th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, March 7th. This is a positive change from Royal Caribbean Cruises's previous quarterly dividend of $0.55. Royal Caribbean Cruises's payout ratio is currently 28.06%.
Royal Caribbean Cruises declared that its board has approved a share buyback plan 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.
Analyst Ratings Changes
Several equities analysts recently issued reports on RCL shares. Mizuho reiterated an "outperform" rating and issued a $253.00 target price (down from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. Macquarie increased their target price 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. Morgan Stanley dropped their target price on Royal Caribbean Cruises from $270.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Thursday. Loop Capital raised Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 price target for the company in a report on Wednesday, March 5th. Finally, Barclays raised their price objective on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and a consensus target price of $276.95.
Read Our Latest Analysis on Royal Caribbean Cruises
Insider Activity
In related 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 transaction, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Laura H. Bethge sold 14,992 shares of the 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 transaction, the insider now owns 21,155 shares of the company's stock, valued at $5,539,648.30. The trade was a 41.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,492 shares of company stock valued at $28,571,705. 7.95% of the stock is currently owned by insiders.
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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