Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 121,639 shares of the company's stock after acquiring an additional 2,240 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Royal Caribbean Cruises were worth $28,061,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in RCL. Florida Financial Advisors LLC purchased a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $241,000. TIAA Trust National Association purchased a new stake in Royal Caribbean Cruises in the 4th quarter valued at approximately $272,000. Corebridge Financial Inc. grew its holdings in Royal Caribbean Cruises by 3.7% during the 4th quarter. Corebridge Financial Inc. now owns 63,564 shares of the company's stock valued at $14,664,000 after buying an additional 2,256 shares during the last quarter. Vanguard Group Inc. increased its position in Royal Caribbean Cruises by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company's stock worth $6,476,003,000 after buying an additional 2,068,114 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $19,027,000. 87.53% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Royal Caribbean Cruises
In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 143,214 shares of the company's stock, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Laura H. Bethge sold 14,992 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the transaction, the insider now directly owns 21,155 shares of the company's stock, valued at approximately $5,539,648.30. This trade represents a 41.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,492 shares of company stock worth $28,571,705 over the last 90 days. Insiders own 7.95% of the company's stock.
Royal Caribbean Cruises Stock Down 3.5 %
Shares of RCL stock traded down $7.31 during mid-day trading on Monday, reaching $200.27. 1,157,615 shares of the company were exchanged, compared to its average volume of 2,312,727. The company has a market capitalization of $53.90 billion, a P/E ratio of 18.73, a P/E/G ratio of 0.90 and a beta of 2.53. The business's 50 day simple moving average is $238.63 and its 200 day simple moving average is $224.15. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. Royal Caribbean Cruises Ltd. has a fifty-two week low of $125.06 and a fifty-two week high of $277.08.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same period in the prior year, the company posted $1.25 earnings per share. Research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.
Royal Caribbean Cruises declared that its board has initiated a share repurchase 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 generally a sign that the company's leadership believes its stock is undervalued.
Royal Caribbean Cruises Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.50%. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises's payout ratio is 28.06%.
Analyst Ratings Changes
A number of analysts recently commented on the company. Macquarie increased their price objective on Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Truist Financial raised their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. Barclays increased their price target on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. UBS Group raised their price target on Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Finally, Citigroup boosted their target price on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises has a consensus rating of "Moderate Buy" and a consensus price target of $279.58.
Read Our Latest Stock Analysis on RCL
About Royal Caribbean Cruises
(
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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