West Michigan Advisors LLC Purchases 2,622 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

West Michigan Advisors LLC increased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 70.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,333 shares of the company's stock after buying an additional 2,622 shares during the quarter. West Michigan Advisors LLC's holdings in Royal Caribbean Cruises were worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Plato Investment Management Ltd bought a new position in shares of Royal Caribbean Cruises during the third quarter worth about $26,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter worth approximately $27,000. LRI Investments LLC bought a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at $31,000. Bay Harbor Wealth Management LLC bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at $36,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $40,000. Institutional investors own 87.53% of the company's stock.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock traded down $4.30 on Monday, reaching $241.80. 1,311,672 shares of the company traded hands, compared to its average volume of 2,476,220. The firm has a market capitalization of $65.07 billion, a PE ratio of 22.62, a PEG ratio of 0.90 and a beta of 2.59. The company has a 50 day moving average of $244.74 and a 200 day moving average of $216.35. 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 Ltd. has a 52 week low of $124.24 and a 52 week 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 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 quarter last year, the company posted $1.25 earnings per share. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current 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 given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.24%. This is a positive change from Royal Caribbean Cruises's previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 28.06%.

Royal Caribbean Cruises declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 1.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. UBS Group lifted their target price on Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Macquarie raised their price target 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. The Goldman Sachs Group dropped their price objective on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Morgan Stanley upped their price target on Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. Finally, Argus upped their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $284.12.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 14,992 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the completion of the transaction, the insider now owns 21,155 shares in the company, valued at $5,539,648.30. This represents a 41.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jason T. Liberty sold 58,000 shares of the business's stock in a transaction on 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 transaction, the chief executive officer now directly owns 143,214 shares in the company, valued at approximately $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is currently owned by insiders.

About Royal Caribbean Cruises

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.