Scotia Capital Inc. Raises Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Scotia Capital Inc. boosted its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 6.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,583 shares of the company's stock after purchasing an additional 1,450 shares during the quarter. Scotia Capital Inc.'s holdings in Royal Caribbean Cruises were worth $5,902,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of RCL. Brown Brothers Harriman & Co. increased its stake in shares of Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after buying an additional 99 shares during the period. Bay Harbor Wealth Management LLC bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at about $36,000. Truvestments Capital LLC bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at about $36,000. ORG Wealth Partners LLC purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $40,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Royal Caribbean Cruises by 100.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company's stock valued at $46,000 after purchasing an additional 100 shares in the last quarter. 87.53% of the stock is owned by institutional investors.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of the 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 owns 143,214 shares in the company, valued at approximately $37,514,907.30. This represents a 28.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura H. Bethge sold 14,992 shares of the business'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 value of $3,925,805.12. Following the transaction, the insider now owns 21,155 shares in the company, valued at approximately $5,539,648.30. This represents a 41.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,492 shares of company stock valued at $28,571,705. Corporate insiders own 7.95% of the company's stock.

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Analyst Upgrades and Downgrades

RCL has been the subject of a number of analyst reports. BNP Paribas initiated coverage on Royal Caribbean Cruises in a report on Thursday, March 27th. They set an "outperform" rating and a $262.00 target price for the company. UBS Group upped their price objective on Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Citigroup raised their price objective on Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Jefferies Financial Group began coverage on Royal Caribbean Cruises in a research note on Monday, March 31st. They set a "hold" rating and a $230.00 price target on the stock. Finally, Susquehanna restated a "positive" rating on shares of Royal Caribbean Cruises in a research note on Tuesday, March 25th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $276.95.

Royal Caribbean Cruises Price Performance

NYSE:RCL traded up $1.56 during trading hours on Tuesday, hitting $193.38. 2,116,484 shares of the stock were exchanged, compared to its average volume of 2,346,103. The firm's fifty day moving average price is $223.20 and its 200 day moving average price is $225.70. Royal Caribbean Cruises Ltd. has a 52-week low of $125.06 and a 52-week high of $277.08. The company has a market cap of $52.04 billion, a P/E ratio of 18.09, a P/E/G ratio of 0.90 and a beta of 2.26. 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 issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 EPS 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 quarter in the previous year, the business earned $1.25 earnings per share. As a group, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 7th were paid a $0.75 dividend. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. 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. Royal Caribbean Cruises's dividend payout ratio (DPR) is currently 28.06%.

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.