Royal Caribbean Cruises Ltd. (NYSE:RCL) Stake Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 14.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 297,864 shares of the company's stock after purchasing an additional 37,421 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.11% of Royal Caribbean Cruises worth $68,714,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Aviva PLC raised its holdings in Royal Caribbean Cruises by 28.0% in the 4th quarter. Aviva PLC now owns 147,040 shares of the company's stock worth $33,921,000 after acquiring an additional 32,177 shares during the last quarter. Smith Moore & CO. purchased a new stake in Royal Caribbean Cruises during the fourth quarter valued at approximately $365,000. Pinpoint Asset Management Ltd raised its holdings in Royal Caribbean Cruises by 146.0% in the 4th quarter. Pinpoint Asset Management Ltd now owns 2,768 shares of the company's stock worth $639,000 after purchasing an additional 1,643 shares during the period. Landscape Capital Management L.L.C. purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at about $1,722,000. Finally, Arete Wealth Advisors LLC lifted its holdings in Royal Caribbean Cruises by 9.1% during the fourth quarter. Arete Wealth Advisors LLC now owns 2,271 shares of the company's stock valued at $526,000 after purchasing an additional 190 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

Insider Transactions at Royal Caribbean Cruises

In other 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Laura H. Bethge sold 14,992 shares of the company's stock in a transaction dated 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 directly owns 21,155 shares of the company's stock, valued at $5,539,648.30. The trade was a 41.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock worth $28,571,705 over the last quarter. 7.95% of the stock is currently owned by insiders.

Remove Ads

Royal Caribbean Cruises Stock Performance

Shares of RCL traded up $1.55 during mid-day trading on Tuesday, hitting $193.37. 770,627 shares of the company's stock were exchanged, compared to its average volume of 2,344,905. The business's 50 day moving average is $223.20 and its two-hundred day moving average is $225.70. 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 market capitalization 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. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $1.63 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 in the prior year, the company earned $1.25 earnings per share. On average, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 7th were given a dividend of $0.75 per share. The ex-dividend date was Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.55%. This is a positive change from Royal Caribbean Cruises's previous quarterly dividend of $0.55. Royal Caribbean Cruises's dividend payout ratio (DPR) is 28.06%.

Wall Street Analysts Forecast Growth

RCL has been the subject of several research analyst reports. Argus raised their target price on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. UBS Group increased their price target on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Macquarie boosted their target price on Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. The Goldman Sachs Group cut their price target on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Finally, Citigroup raised their price objective on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $276.95.

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.