Capital Group Private Client Services Inc. Purchases 28,741 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Capital Group Private Client Services Inc. lifted its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 6.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 483,226 shares of the company's stock after acquiring an additional 28,741 shares during the quarter. Royal Caribbean Cruises makes up about 1.0% of Capital Group Private Client Services Inc.'s portfolio, making the stock its 22nd biggest holding. Capital Group Private Client Services Inc. owned 0.18% of Royal Caribbean Cruises worth $111,475,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RCL. Capital International Investors increased its holdings in shares of Royal Caribbean Cruises by 0.9% in the fourth quarter. Capital International Investors now owns 29,712,610 shares of the company's stock valued at $6,854,905,000 after purchasing an additional 278,860 shares during the last quarter. Vanguard Group Inc. grew its stake in Royal Caribbean Cruises by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company's stock valued at $6,476,003,000 after buying an additional 2,068,114 shares during the last quarter. Geode Capital Management LLC raised its holdings in Royal Caribbean Cruises by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock valued at $1,373,856,000 after acquiring an additional 353,893 shares during the period. Norges Bank acquired a new stake in Royal Caribbean Cruises during the fourth quarter worth approximately $707,833,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Royal Caribbean Cruises by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,519,000 shares of the company's stock worth $350,418,000 after acquiring an additional 48,480 shares during the period. 87.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RCL shares. BNP Paribas assumed coverage on Royal Caribbean Cruises in a report on Thursday, March 27th. They set an "outperform" rating and a $262.00 price target for the company. Wells Fargo & Company upped their price target on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an "overweight" rating in a research note on Monday, January 27th. The Goldman Sachs Group cut their price objective on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a report on Wednesday. Jefferies Financial Group started coverage on shares of Royal Caribbean Cruises in a research report on Monday, March 31st. They issued a "hold" rating and a $230.00 price target for the company. Finally, Tigress Financial increased their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and a consensus target price of $272.53.

Royal Caribbean Cruises Trading Up 4.7 %

Shares of RCL stock traded up $9.43 during mid-day trading on Wednesday, reaching $209.10. 1,545,961 shares of the stock traded hands, compared to its average volume of 2,324,903. The stock's fifty day simple moving average is $215.02 and its two-hundred day simple moving average is $226.09. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a 1-year low of $130.08 and a 1-year high of $277.08. The company has a market cap of $56.27 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 0.90 and a beta of 2.26.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping analysts' consensus estimates 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 quarter last year, the firm earned $1.25 EPS. On average, research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 7th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. The ex-dividend date was Friday, March 7th. Royal Caribbean Cruises's dividend payout ratio (DPR) is 28.06%.

Royal Caribbean Cruises declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of Royal Caribbean Cruises 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 directly owns 143,214 shares in the company, valued at approximately $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Laura H. Bethge sold 14,992 shares of the 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 transaction, the insider now owns 21,155 shares in the company, valued at $5,539,648.30. The trade was a 41.48 % decrease in their ownership of the stock. 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 three months. 7.95% of the stock is owned by company insiders.

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.