Sowell Financial Services LLC bought a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,481 shares of the company's stock, valued at approximately $3,571,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. D1 Capital Partners L.P. grew its holdings in shares of Royal Caribbean Cruises by 3.8% in the third quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company's stock worth $278,502,000 after purchasing an additional 58,159 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Royal Caribbean Cruises by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,519,000 shares of the company's stock worth $350,418,000 after purchasing an additional 48,480 shares during the last quarter. National Pension Service grew its holdings in shares of Royal Caribbean Cruises by 138.9% in the fourth 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. Swiss National Bank grew its holdings in shares of Royal Caribbean Cruises by 0.5% in the third quarter. Swiss National Bank now owns 725,638 shares of the company's stock worth $128,699,000 after purchasing an additional 3,800 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its holdings in Royal Caribbean Cruises by 2.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company's stock worth $104,918,000 after acquiring an additional 13,520 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the stock. Macquarie increased their target price on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Susquehanna reduced their price target on shares of Royal Caribbean Cruises from $305.00 to $295.00 and set a "positive" rating for the company in a research report on Wednesday, March 5th. Tigress Financial raised their price target on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. UBS Group raised their price target on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, Mizuho reissued an "outperform" rating and set a $253.00 price target (down from $255.00) on shares of Royal Caribbean Cruises in a research report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $283.53.
View Our Latest Stock Report on Royal Caribbean Cruises
Insider Transactions at Royal Caribbean Cruises
In other news, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction 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 transaction, the director now owns 185,021 shares in the company, valued at $47,491,190.28. The trade was a 9.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction 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 trade represents a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,492 shares of company stock worth $28,571,705 in the last quarter. Company insiders own 7.95% of the company's stock.
Royal Caribbean Cruises Price Performance
Royal Caribbean Cruises stock traded up $0.17 during trading on Wednesday, reaching $207.34. The company had a trading volume of 3,018,004 shares, compared to its average volume of 2,740,443. Royal Caribbean Cruises Ltd. has a 1-year low of $125.06 and a 1-year high of $277.08. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The firm's 50-day simple moving average is $242.06 and its 200 day simple moving average is $219.25. The firm has a market capitalization of $55.80 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53.
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 (EPS) for the quarter, topping 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 quarter in the previous year, the firm posted $1.25 EPS. As a group, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. 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 currently 28.06%.
Royal Caribbean Cruises announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.
About Royal Caribbean Cruises
(
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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