Vestor Capital LLC purchased a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 18,458 shares of the company's stock, valued at approximately $4,258,000.
A number of other hedge funds have also added to or reduced their stakes in RCL. Mizuho Securities USA LLC grew its holdings in shares of Royal Caribbean Cruises by 52.7% in the 4th quarter. Mizuho Securities USA LLC now owns 23,445 shares of the company's stock valued at $5,409,000 after acquiring an additional 8,088 shares in the last quarter. Virtu Financial LLC raised its position in Royal Caribbean Cruises by 26.7% during the fourth quarter. Virtu Financial LLC now owns 5,054 shares of the company's stock worth $1,166,000 after acquiring an additional 1,064 shares in the last quarter. Summit Global Investments acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter worth about $382,000. Kiker Wealth Management LLC bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at about $1,749,000. Finally, HUB Investment Partners LLC increased its position in Royal Caribbean Cruises by 109.2% during the fourth quarter. HUB Investment Partners LLC now owns 3,077 shares of the company's stock worth $710,000 after buying an additional 1,606 shares during the last quarter. Institutional investors own 87.53% of the company's stock.
Royal Caribbean Cruises Price Performance
Shares of RCL traded down $5.26 during mid-day trading on Wednesday, reaching $219.76. The company had a trading volume of 1,735,476 shares, compared to its average volume of 2,270,894. The company's 50 day simple moving average is $239.89 and its 200 day simple moving average is $223.00. The company has a market capitalization of $59.14 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 0.90 and a beta of 2.53. 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.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping 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 previous year, the firm earned $1.25 EPS. Analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.
Royal Caribbean Cruises announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 1.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management 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 paid a $0.75 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.37%. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. Royal Caribbean Cruises's dividend payout ratio is currently 28.06%.
Insider Activity at Royal Caribbean Cruises
In related news, CEO Jason T. Liberty sold 58,000 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was 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 directly owns 143,214 shares of the company's stock, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Naftali Holtz sold 17,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total value of $4,447,540.00. Following the completion of the sale, the chief financial officer now owns 42,127 shares in the company, valued at $11,021,265.74. This trade represents a 28.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,492 shares of company stock worth $28,571,705 in the last quarter. 7.95% of the stock is owned by insiders.
Wall Street Analyst Weigh In
RCL has been the topic of a number of research analyst reports. The Goldman Sachs Group dropped their price target on Royal Caribbean Cruises from $275.00 to $270.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. Macquarie lifted 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. Citigroup increased their price target on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. UBS Group upped their target price on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Finally, Argus lifted their price target on Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $283.53.
View Our Latest Stock Analysis on RCL
Royal Caribbean Cruises Profile
(
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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