Summit Financial LLC increased its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 25.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,434 shares of the company's stock after purchasing an additional 1,320 shares during the quarter. Summit Financial LLC's holdings in Royal Caribbean Cruises were worth $1,488,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at $707,833,000. Vanguard Group Inc. boosted its stake in Royal Caribbean Cruises by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company's stock valued at $6,476,003,000 after purchasing an additional 2,068,114 shares during the period. National Pension Service grew its position 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 purchasing an additional 502,349 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $69,556,000. Finally, AustralianSuper Pty Ltd raised its holdings in shares of Royal Caribbean Cruises by 2,042.8% during the fourth quarter. AustralianSuper Pty Ltd now owns 122,887 shares of the company's stock valued at $28,349,000 after buying an additional 117,152 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company's stock.
Royal Caribbean Cruises Stock Down 5.9 %
RCL stock traded down $11.05 during midday trading on Friday, reaching $177.60. The company had a trading volume of 5,319,543 shares, compared to its average volume of 2,335,926. The company has a 50 day moving average of $235.71 and a two-hundred day moving average of $224.38. The company has a market capitalization of $47.80 billion, a P/E ratio of 16.61, a PEG ratio of 0.90 and a beta of 2.26. Royal Caribbean Cruises Ltd. has a 1 year low of $125.06 and a 1 year high of $277.08. 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 (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, beating 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 quarter in the previous year, the business earned $1.25 earnings per share. On average, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.
Royal Caribbean Cruises Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be issued a $0.75 dividend. This is a positive change from Royal Caribbean Cruises's previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Friday, March 7th. Royal Caribbean Cruises's payout ratio is 28.06%.
Royal Caribbean Cruises declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.
Analyst Ratings Changes
Several analysts recently commented on the company. Stifel Nicolaus raised their target price 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. Jefferies Financial Group began coverage on shares of Royal Caribbean Cruises in a research note on Monday. They set a "hold" rating and a $230.00 price objective on the stock. Loop Capital upgraded shares of Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 target price for the company in a research report on Wednesday, March 5th. Susquehanna reissued a "positive" rating on shares of Royal Caribbean Cruises in a research note on Tuesday, March 25th. Finally, Macquarie upped their price target on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises has an average rating of "Moderate Buy" and a consensus target price of $279.58.
View Our Latest Research Report on Royal Caribbean Cruises
Insider Buying and Selling 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 on Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the sale, the chief executive officer now owns 143,214 shares in the company, valued at $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard D. Fain sold 19,500 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the completion of the transaction, the director now owns 185,021 shares of the company's stock, valued at approximately $47,491,190.28. This represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,492 shares of company stock valued at $28,571,705 in the last quarter. Corporate insiders own 7.95% of the company's stock.
About Royal Caribbean Cruises
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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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