SVB Wealth LLC acquired a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 25,707 shares of the company's stock, valued at approximately $5,930,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in shares of Royal Caribbean Cruises by 511.0% during the fourth quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company's stock worth $498,000 after acquiring an additional 1,804 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Royal Caribbean Cruises by 20.1% in the 4th 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 during the period. Sanctuary Advisors LLC increased its holdings in Royal Caribbean Cruises by 76.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company's stock worth $5,142,000 after purchasing an additional 12,530 shares in the last quarter. Lorne Steinberg Wealth Management Inc. bought a new position in Royal Caribbean Cruises during the 4th quarter worth about $231,000. Finally, Principal Financial Group Inc. raised its stake in shares of Royal Caribbean Cruises by 2.7% in 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 currently owned by institutional investors.
Insider Activity
In other news, Director Richard D. Fain sold 19,500 shares of the business's stock in a transaction dated 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 completion of the sale, the director now owns 185,021 shares of the company's stock, valued at approximately $47,491,190.28. The trade was a 9.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jason T. Liberty sold 58,000 shares of the company'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 transaction, the chief executive officer now owns 143,214 shares in the company, valued at $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. Over the last quarter, insiders have sold 109,492 shares of company stock valued at $28,571,705. 7.95% of the stock is owned by insiders.
Analyst Ratings Changes
RCL has been the subject of several research reports. 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 note on Tuesday, February 4th. JPMorgan Chase & Co. raised their target price on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Stifel Nicolaus boosted their price target on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Wells Fargo & Company increased their price objective on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an "overweight" rating in a research note on Monday, January 27th. Finally, 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 report on Friday, February 7th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $284.12.
View Our Latest Analysis on Royal Caribbean Cruises
Royal Caribbean Cruises Stock Performance
RCL traded down $1.45 during trading hours on Monday, reaching $244.66. The company's stock had a trading volume of 1,113,482 shares, compared to its average volume of 2,470,673. The company's 50-day moving average is $244.74 and its 200-day moving average is $216.35. Royal Caribbean Cruises Ltd. has a 52 week low of $124.24 and a 52 week high of $277.08. The firm has a market cap of $65.84 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 0.90 and a beta of 2.59. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating 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 period last year, the firm earned $1.25 EPS. On average, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.
Royal Caribbean Cruises declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 1.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.
Royal Caribbean Cruises Increases Dividend
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.55. Royal Caribbean Cruises's payout ratio is currently 28.06%.
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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