Summit Trail Advisors LLC Buys 2,347 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Summit Trail Advisors LLC increased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 85.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,091 shares of the company's stock after buying an additional 2,347 shares during the quarter. Summit Trail Advisors LLC's holdings in Royal Caribbean Cruises were worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Savant Capital LLC lifted its position in Royal Caribbean Cruises by 16.4% in the fourth quarter. Savant Capital LLC now owns 6,076 shares of the company's stock valued at $1,402,000 after purchasing an additional 857 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in Royal Caribbean Cruises by 9.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 5,644 shares of the company's stock valued at $1,302,000 after purchasing an additional 490 shares during the last quarter. Quotient Wealth Partners LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter valued at approximately $282,000. Empowered Funds LLC lifted its position in Royal Caribbean Cruises by 804.3% in the fourth quarter. Empowered Funds LLC now owns 30,205 shares of the company's stock valued at $6,968,000 after purchasing an additional 26,865 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its position in Royal Caribbean Cruises by 14.3% in the fourth quarter. Apollon Wealth Management LLC now owns 4,540 shares of the company's stock valued at $1,047,000 after purchasing an additional 569 shares during the last quarter. Institutional investors own 87.53% of the company's stock.

Royal Caribbean Cruises Stock Up 1.1 %

RCL stock traded up $2.90 during midday trading on Friday, hitting $262.99. The stock had a trading volume of 1,308,339 shares, compared to its average volume of 2,415,259. The firm has a market cap of $70.71 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 1.00 and a beta of 2.59. The business has a 50-day moving average of $243.57 and a two-hundred day moving average of $208.77. Royal Caribbean Cruises Ltd. has a 52-week low of $113.10 and a 52-week high of $277.08. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15.

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 period in the previous year, the company earned $1.25 EPS. As a group, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.96 earnings per share for the current fiscal year.

Royal Caribbean Cruises announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be paid a $0.75 dividend. This is a boost 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 1.14%. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises's dividend payout ratio is currently 20.58%.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the sale, the director now directly owns 18,167,507 shares of the company's stock, valued at $4,321,868,240.23. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard D. Fain sold 19,500 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the sale, the director now directly owns 185,021 shares in the company, valued at $47,491,190.28. This trade represents a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 392,109 shares of company stock valued at $92,652,468. Insiders own 7.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com upgraded Royal Caribbean Cruises from a "sell" rating to a "hold" rating in a research report on Tuesday, November 26th. Stifel Nicolaus upped their target price on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a "buy" rating in a report on Friday, December 6th. JPMorgan Chase & Co. upped their target price on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Sanford C. Bernstein started coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They set an "outperform" rating and a $290.00 target price for the company. Finally, Mizuho restated an "outperform" rating and set a $253.00 target price (down previously from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $284.12.

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.