APG Asset Management N.V. Trims Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

APG Asset Management N.V. lessened its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 24.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,086 shares of the company's stock after selling 9,794 shares during the quarter. APG Asset Management N.V.'s holdings in Royal Caribbean Cruises were worth $6,925,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RCL. Norges Bank purchased a new position in Royal Caribbean Cruises in the 4th quarter worth $707,833,000. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 2,068,114 shares during the period. National Pension Service increased its holdings in Royal Caribbean Cruises by 138.9% in the 4th quarter. National Pension Service now owns 864,049 shares of the company's stock worth $199,327,000 after buying an additional 502,349 shares during the period. Geode Capital Management LLC raised its position in shares of Royal Caribbean Cruises by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock worth $1,373,856,000 after acquiring an additional 353,893 shares during the period. Finally, Rathbones Group PLC grew its position in shares of Royal Caribbean Cruises by 15,633.2% during the 4th quarter. Rathbones Group PLC now owns 353,996 shares of the company's stock valued at $81,663,000 after acquiring an additional 351,746 shares during the period. Hedge funds and other institutional investors own 87.53% of the company's stock.

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Insider Buying and Selling

In related news, CEO Jason T. Liberty sold 58,000 shares of the business's 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 directly 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 sale 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 business's stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 owns 21,155 shares of the company's stock, valued at approximately $5,539,648.30. This 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. 7.95% of the stock is owned by insiders.

Royal Caribbean Cruises Stock Up 0.8 %

NYSE:RCL traded up $1.56 during mid-day trading on Tuesday, hitting $193.38. The stock had a trading volume of 2,116,484 shares, compared to its average volume of 2,346,103. 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 Ltd. has a twelve month low of $125.06 and a twelve month high of $277.08. The company has a market capitalization of $52.04 billion, a PE ratio of 18.09, a PEG ratio of 0.90 and a beta of 2.26. The stock has a 50-day simple moving average of $223.20 and a two-hundred day simple moving average of $225.70.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) 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 quarter in the previous year, the company posted $1.25 earnings per share. On average, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

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

Royal Caribbean Cruises Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Friday, March 7th. 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

Several analysts have commented on the company. Stifel Nicolaus dropped their price objective on Royal Caribbean Cruises from $310.00 to $265.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Susquehanna reiterated a "positive" rating on shares of Royal Caribbean Cruises in a research report on Tuesday, March 25th. Morgan Stanley reduced their price target on shares of Royal Caribbean Cruises from $270.00 to $220.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. boosted their price objective on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group lowered their price target on Royal Caribbean Cruises from $275.00 to $270.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. Four 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $276.95.

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.