Adage Capital Partners GP L.L.C. Acquires 7,900 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Adage Capital Partners GP L.L.C. grew its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 231,100 shares of the company's stock after purchasing an additional 7,900 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.09% of Royal Caribbean Cruises worth $53,312,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Brown Brothers Harriman & Co. boosted its stake in shares of Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after purchasing an additional 99 shares during the period. Bay Harbor Wealth Management LLC bought a new position in Royal Caribbean Cruises in the fourth quarter worth about $36,000. Truvestments Capital LLC bought a new position in Royal Caribbean Cruises in the fourth quarter worth $36,000. ORG Wealth Partners LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter worth about $40,000. Finally, Atlantic Edge Private Wealth Management LLC increased its position in Royal Caribbean Cruises by 100.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company's stock valued at $46,000 after buying an additional 100 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,500 shares of the business's stock in a transaction dated 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 directly owns 185,021 shares of the company's stock, valued at $47,491,190.28. The trade was a 9.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $15,193,100.00. Following the transaction, the chief executive officer now directly owns 143,214 shares in the company, valued at approximately $37,514,907.30. This trade represents a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 109,492 shares of company stock valued at $28,571,705. Insiders own 7.95% of the company's stock.

Wall Street Analyst Weigh In

RCL has been the subject of several recent analyst reports. Loop Capital upgraded shares of Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 target price on the stock in a research note on Wednesday, March 5th. Barclays decreased their target price on shares of Royal Caribbean Cruises from $308.00 to $249.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Mizuho reaffirmed an "outperform" rating and issued a $253.00 price objective (down previously from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. Morgan Stanley lowered their price target on shares of Royal Caribbean Cruises from $270.00 to $220.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Finally, BNP Paribas began coverage on shares of Royal Caribbean Cruises in a research note on Thursday, March 27th. They issued an "outperform" rating and a $262.00 price objective for the company. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises has a consensus rating of "Moderate Buy" and an average target price of $272.85.

Royal Caribbean Cruises Price Performance

Shares of Royal Caribbean Cruises stock traded up $4.70 during trading hours on Monday, reaching $216.67. The company's stock had a trading volume of 2,667,776 shares, compared to its average volume of 2,305,377. 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 one year low of $130.08 and a one year high of $277.08. The firm has a 50 day moving average price of $211.89 and a 200-day moving average price of $226.84. The stock has a market cap of $58.83 billion, a P/E ratio of 20.27, a P/E/G ratio of 0.90 and a beta of 2.26.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data 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 quarter in the prior year, the firm earned $1.25 EPS. On average, analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 7th were paid a $0.75 dividend. The ex-dividend date was Friday, March 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.38%. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. Royal Caribbean Cruises's dividend payout ratio is currently 28.06%.

Royal Caribbean Cruises announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Royal Caribbean Cruises Company 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.