Sierra Ocean LLC Takes Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Sierra Ocean LLC purchased a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,288 shares of the company's stock, valued at approximately $297,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Plato Investment Management Ltd bought a new stake in Royal Caribbean Cruises in the third quarter worth $26,000. Safe Harbor Fiduciary LLC purchased a new stake in Royal Caribbean Cruises in the third quarter worth $27,000. LRI Investments LLC purchased a new stake in Royal Caribbean Cruises in the third quarter worth $31,000. Bay Harbor Wealth Management LLC purchased a new stake in Royal Caribbean Cruises in the fourth quarter worth $36,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at $40,000. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Stock Down 7.5 %

NYSE RCL traded down $19.81 during trading on Thursday, hitting $244.20. The company's stock had a trading volume of 8,814,444 shares, compared to its average volume of 2,425,559. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The company has a market cap of $65.72 billion, a PE ratio of 22.84, a P/E/G ratio of 0.97 and a beta of 2.59. The business's 50 day simple moving average is $244.57 and its 200-day simple moving average is $211.54. Royal Caribbean Cruises Ltd. has a fifty-two week low of $113.56 and a fifty-two week high of $277.08.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping 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 prior year, the business earned $1.25 earnings per share. On average, equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The company 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 dividend of $0.75 per share. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.23%. Royal Caribbean Cruises's payout ratio is 20.58%.

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

Analyst Ratings Changes

RCL has been the topic of several research reports. The Goldman Sachs Group cut 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. Morgan Stanley raised their price target on Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. Sanford C. Bernstein started coverage on Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an "outperform" rating and a $290.00 target price on the stock. Tigress Financial lifted their target price on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their target price on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $284.12.

Insider Buying and Selling

In related news, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, February 13th. The stock was 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 directly owns 185,021 shares in the company, valued at approximately $47,491,190.28. This trade represents a 9.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.95% of the company's stock.

About Royal Caribbean Cruises

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.