Savoir Faire Capital Management L.P. Trims Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Savoir Faire Capital Management L.P. lowered its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 84.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,840 shares of the company's stock after selling 41,130 shares during the quarter. Savoir Faire Capital Management L.P.'s holdings in Royal Caribbean Cruises were worth $1,809,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Public Sector Pension Investment Board raised its stake in Royal Caribbean Cruises by 14.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 9,327 shares of the company's stock worth $1,654,000 after acquiring an additional 1,200 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at $73,000. Atom Investors LP lifted its stake in shares of Royal Caribbean Cruises by 28.7% during the 3rd quarter. Atom Investors LP now owns 1,892 shares of the company's stock valued at $336,000 after buying an additional 422 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in Royal Caribbean Cruises by 74.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 4,601 shares of the company's stock worth $816,000 after buying an additional 1,962 shares during the period. Finally, Hilltop Holdings Inc. purchased a new stake in Royal Caribbean Cruises in the 3rd quarter worth $388,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Down 1.6 %

Shares of RCL traded down $2.82 during midday trading on Tuesday, hitting $176.73. 2,914,013 shares of the company's stock traded hands, compared to its average volume of 2,342,046. Royal Caribbean Cruises Ltd. has a 1 year low of $125.06 and a 1 year high of $277.08. The firm's fifty day moving average is $233.45 and its 200-day moving average is $225.27. 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 stock has a market capitalization of $47.56 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 0.90 and a beta of 2.26.

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Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly 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 return on equity of 48.97% and a net margin of 17.46%. During the same period in the prior year, the firm earned $1.25 earnings per share. As a group, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

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

Royal Caribbean Cruises Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 7th were issued a $0.75 dividend. The ex-dividend date was Friday, March 7th. This is a positive change from Royal Caribbean Cruises's previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.70%. Royal Caribbean Cruises's dividend payout ratio is currently 28.06%.

Insider Transactions at Royal Caribbean Cruises

In related news, 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 value of $3,925,805.12. Following the completion of the transaction, the insider now directly owns 21,155 shares in the company, valued at $5,539,648.30. The trade was a 41.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the firm's 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 approximately $37,514,907.30. This represents a 28.83 % 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 three months. 7.95% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Argus upped their price objective on Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price objective on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Stifel Nicolaus dropped their target price on shares of Royal Caribbean Cruises from $310.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday. Macquarie lifted their price target on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Morgan Stanley increased their price objective on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and an average price target of $277.21.

Royal Caribbean Cruises 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.