Edgestream Partners L.P. Acquires 16,234 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Edgestream Partners L.P. grew its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 110.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,933 shares of the company's stock after purchasing an additional 16,234 shares during the quarter. Edgestream Partners L.P.'s holdings in Royal Caribbean Cruises were worth $7,136,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Plato Investment Management Ltd acquired a new position in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $26,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $27,000. Bay Harbor Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at about $36,000. ORG Wealth Partners LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at about $40,000. Finally, LRI Investments LLC acquired a new position in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Royal Caribbean Cruises Trading Down 0.9 %

Shares of NYSE RCL traded down $1.95 during mid-day trading on Friday, hitting $213.59. 4,740,051 shares of the company traded hands, compared to its average volume of 2,632,598. Royal Caribbean Cruises Ltd. has a 1 year low of $125.06 and a 1 year high of $277.08. The stock has a market capitalization of $57.48 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 0.90 and a beta of 2.53. 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 business has a 50 day moving average of $243.51 and a two-hundred day moving average of $218.26.

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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 for the quarter, topping 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 quarter in the prior year, the firm posted $1.25 earnings per share. On average, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.75 per share. This is a positive change 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 1.40%. Royal Caribbean Cruises's dividend payout ratio is currently 28.06%.

Royal Caribbean Cruises declared that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

RCL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. UBS Group boosted their price target on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Barclays boosted their price target on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Macquarie boosted 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. Finally, Citigroup upped their target price on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, Royal Caribbean Cruises presently has an average rating of "Moderate Buy" and a consensus price target of $283.53.

Insider Activity

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the firm's 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 sale, the insider now owns 21,155 shares in the company, valued at approximately $5,539,648.30. This trade represents a 41.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total value of $15,193,100.00. Following the completion of the sale, the chief executive officer now owns 143,214 shares of the company's stock, valued at $37,514,907.30. This represents a 28.83 % decrease in their position. 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. Insiders own 7.95% of the company's stock.

Royal Caribbean Cruises 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.