Cibc World Markets Corp Acquires 6,248 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Cibc World Markets Corp boosted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 19.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,876 shares of the company's stock after buying an additional 6,248 shares during the quarter. Cibc World Markets Corp's holdings in Royal Caribbean Cruises were worth $8,968,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in RCL. Safe Harbor Fiduciary LLC bought a new position in Royal Caribbean Cruises during the third quarter valued at about $27,000. LRI Investments LLC bought a new position in shares of Royal Caribbean Cruises in the third quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $36,000. Truvestments Capital LLC purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $36,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $40,000. Institutional investors own 87.53% of the company's stock.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises 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 completion of the transaction, the director now directly owns 185,021 shares in the company, valued at $47,491,190.28. This represents a 9.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the company'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 transaction, the chief executive officer now owns 143,214 shares of the company's stock, valued at $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is owned by company insiders.

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Royal Caribbean Cruises Stock Performance

NYSE:RCL traded up $1.04 during mid-day trading on Friday, reaching $215.76. The company's stock had a trading volume of 3,608,502 shares, compared to its average volume of 2,272,103. Royal Caribbean Cruises Ltd. has a 12-month low of $125.06 and a 12-month high of $277.08. The firm's fifty day moving average price is $240.00 and its two-hundred day moving average price is $221.17. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The stock has a market cap of $58.07 billion, a P/E ratio of 20.18, a PEG ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its 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 period last year, the business posted $1.25 earnings per share. On average, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

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

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, March 7th. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.39%. Royal Caribbean Cruises's payout ratio is 28.06%.

Analysts Set New Price Targets

Several research analysts recently commented on RCL shares. Morgan Stanley lifted their target price on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. Barclays lifted their target price 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. Sanford C. Bernstein began coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an "outperform" rating and a $290.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Finally, Stifel Nicolaus lifted their price target on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a "buy" rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of "Moderate Buy" and a consensus price target of $283.53.

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.