California Public Employees Retirement System Sells 26,742 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

California Public Employees Retirement System lessened its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 395,121 shares of the company's stock after selling 26,742 shares during the quarter. California Public Employees Retirement System owned 0.15% of Royal Caribbean Cruises worth $91,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of RCL. Venturi Wealth Management LLC lifted its stake in shares of Royal Caribbean Cruises by 511.0% in the fourth quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company's stock worth $498,000 after buying an additional 1,804 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Royal Caribbean Cruises by 20.1% in the 4th quarter. Park Avenue Securities LLC now owns 6,630 shares of the company's stock worth $1,530,000 after acquiring an additional 1,111 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in Royal Caribbean Cruises by 76.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company's stock valued at $5,142,000 after purchasing an additional 12,530 shares during the last quarter. Lorne Steinberg Wealth Management Inc. purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $231,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Royal Caribbean Cruises by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 291,027 shares of the company's stock valued at $67,137,000 after purchasing an additional 7,740 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company's stock.

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Insider Activity

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of the business's stock in a transaction dated 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Laura H. Bethge sold 14,992 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the transaction, the insider now directly owns 21,155 shares in the company, valued at approximately $5,539,648.30. This trade represents a 41.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,492 shares of company stock valued at $28,571,705. 7.95% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Jefferies Financial Group began coverage on shares of Royal Caribbean Cruises in a report on Monday. They set a "hold" rating and a $230.00 price target on the stock. Barclays boosted their target price on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Susquehanna reaffirmed a "positive" rating on shares of Royal Caribbean Cruises in a report on Tuesday, March 25th. Stifel Nicolaus lifted their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $279.58.

Royal Caribbean Cruises Trading Down 4.3 %

NYSE:RCL traded down $8.16 during midday trading on Friday, hitting $180.49. 4,154,366 shares of the company traded hands, compared to its average volume of 2,332,065. 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 firm's fifty day moving average is $235.71 and its 200-day moving average is $224.38. The firm has a market capitalization of $48.57 billion, a P/E ratio of 16.79, a P/E/G ratio of 0.90 and a beta of 2.26. Royal Caribbean Cruises Ltd. has a 12-month low of $125.06 and a 12-month high of $277.08.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating 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 earned $1.25 EPS. On average, sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

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

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Royal Caribbean Cruises's previous quarterly dividend of $0.55. Royal Caribbean Cruises's payout ratio is 28.06%.

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.