State of Tennessee Department of Treasury trimmed its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,460 shares of the company's stock after selling 2,634 shares during the quarter. State of Tennessee Department of Treasury owned about 0.05% of Royal Caribbean Cruises worth $31,019,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the business. Venturi Wealth Management LLC increased its stake in Royal Caribbean Cruises by 511.0% during the 4th quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company's stock valued at $498,000 after buying an additional 1,804 shares during the period. Park Avenue Securities LLC raised its holdings in Royal Caribbean Cruises by 20.1% during the fourth quarter. Park Avenue Securities LLC now owns 6,630 shares of the company's stock worth $1,530,000 after purchasing an additional 1,111 shares in the last quarter. Lorne Steinberg Wealth Management Inc. acquired a new stake in Royal Caribbean Cruises in the fourth quarter worth approximately $231,000. Geode Capital Management LLC boosted its stake in Royal Caribbean Cruises by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock valued at $1,373,856,000 after purchasing an additional 353,893 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Royal Caribbean Cruises by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 291,027 shares of the company's stock valued at $67,137,000 after purchasing an additional 7,740 shares during the period. 87.53% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. The Goldman Sachs Group lowered their target price on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a report on Wednesday. Wells Fargo & Company boosted their target price on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. JPMorgan Chase & Co. lifted their price target on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Tigress Financial raised their target price on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Loop Capital upgraded shares of Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 price target for the company in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Royal Caribbean Cruises has a consensus rating of "Moderate Buy" and an average price target of $272.53.
Check Out Our Latest Research Report on Royal Caribbean Cruises
Insiders Place Their Bets
In other news, CFO Naftali Holtz sold 17,000 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total value of $4,447,540.00. Following the transaction, the chief financial officer now directly owns 42,127 shares in the company, valued at approximately $11,021,265.74. The trade was a 28.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 19,500 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value of $5,005,260.00. Following the transaction, the director now directly owns 185,021 shares of the company's stock, valued at $47,491,190.28. This represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,492 shares of company stock valued at $28,571,705 over the last 90 days. 7.95% of the stock is currently owned by company insiders.
Royal Caribbean Cruises Stock Up 1.9 %
RCL traded up $3.99 during midday trading on Thursday, hitting $211.49. 1,515,761 shares of the company's stock traded hands, compared to its average volume of 2,322,596. 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 $57.42 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 0.90 and a beta of 2.26. The stock's fifty day simple moving average is $212.88 and its 200-day simple moving average is $226.18. Royal Caribbean Cruises Ltd. has a one year low of $130.08 and a one year high of $277.08.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates 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 prior year, the company posted $1.25 EPS. As a group, equities 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 announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 7th were 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 1.42%. The ex-dividend date was Friday, March 7th. Royal Caribbean Cruises's payout ratio is 28.06%.
Royal Caribbean Cruises declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 1.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is 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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