Venturi Wealth Management LLC Boosts Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Venturi Wealth Management LLC lifted its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 511.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,157 shares of the company's stock after purchasing an additional 1,804 shares during the quarter. Venturi Wealth Management LLC's holdings in Royal Caribbean Cruises were worth $498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Truist Financial Corp raised its position in shares of Royal Caribbean Cruises by 11.1% in the 4th quarter. Truist Financial Corp now owns 26,235 shares of the company's stock valued at $6,052,000 after purchasing an additional 2,611 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Royal Caribbean Cruises by 8.1% in the 4th quarter. CIBC Asset Management Inc now owns 38,438 shares of the company's stock valued at $8,867,000 after purchasing an additional 2,865 shares during the last quarter. Nicholas Hoffman & Company LLC. purchased a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at approximately $236,000. Principal Financial Group Inc. raised its position 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 last quarter. Finally, Sierra Ocean LLC purchased a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at approximately $297,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

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Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL traded down $9.73 during midday trading on Friday, reaching $234.16. 4,119,838 shares of the stock were exchanged, compared to its average volume of 2,583,851. The firm has a 50-day simple moving average of $244.35 and a two-hundred day simple moving average of $212.86. Royal Caribbean Cruises Ltd. has a twelve month low of $119.48 and a twelve month high of $277.08. The firm has a market cap of $63.02 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 0.90 and a beta of 2.59. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39.

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 (EPS) 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 period in the previous year, the company posted $1.25 EPS. As a group, analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS 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. Investors of record on Friday, March 7th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.28%. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.55. Royal Caribbean Cruises's dividend payout ratio (DPR) is currently 20.58%.

Royal Caribbean Cruises declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently weighed in on RCL. UBS Group increased their price target on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Susquehanna increased their price target on shares of Royal Caribbean Cruises from $245.00 to $305.00 and gave the stock a "positive" rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Sanford C. Bernstein began coverage on shares of Royal Caribbean Cruises in a report on Tuesday, November 26th. They issued an "outperform" rating and a $290.00 price target on the stock. Finally, Bank of America increased their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises has a consensus rating of "Moderate Buy" and an average target price of $284.12.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CFO Naftali Holtz sold 17,000 shares of the firm's stock in a transaction on 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 owns 42,127 shares in the company, valued at approximately $11,021,265.74. This trade represents a 28.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard D. Fain sold 19,500 shares of the firm's 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 completion of 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 disclosure for this sale can be found here. In 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 company insiders.

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.