Zacks Investment Management Lowers Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Zacks Investment Management reduced its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 1.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 192,024 shares of the company's stock after selling 3,296 shares during the period. Zacks Investment Management owned approximately 0.07% of Royal Caribbean Cruises worth $44,298,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brown Brothers Harriman & Co. increased its stake in Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after acquiring an additional 99 shares during the last quarter. Bay Harbor Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $36,000. Truvestments Capital LLC purchased a new stake in Royal Caribbean Cruises during the 4th quarter valued at $36,000. ORG Wealth Partners LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter worth $40,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its stake in Royal Caribbean Cruises by 100.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company's stock worth $46,000 after buying an additional 100 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RCL shares. Loop Capital raised shares of Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 target price on the stock in a research note on Wednesday, March 5th. Citigroup lifted their price objective 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. Mizuho reissued an "outperform" rating and set a $253.00 price target (down previously from $255.00) on shares of Royal Caribbean Cruises in a research report on Thursday, January 23rd. BNP Paribas assumed coverage on Royal Caribbean Cruises in a report on Thursday, March 27th. They issued an "outperform" rating and a $262.00 price objective for the company. Finally, Macquarie boosted their price objective on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $276.95.

Royal Caribbean Cruises Stock Performance

NYSE:RCL traded up $0.82 during midday trading on Friday, hitting $192.52. The company's stock had a trading volume of 1,167,960 shares, compared to its average volume of 2,338,343. 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 fifty-two week low of $127.20 and a fifty-two week high of $277.08. The firm's 50 day moving average is $217.55 and its 200-day moving average is $225.48. The firm has a market cap of $51.81 billion, a P/E ratio of 18.01, a P/E/G ratio of 0.90 and a beta of 2.26.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) 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 prior year, the firm earned $1.25 EPS. Equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 7th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.56%. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, March 7th. Royal Caribbean Cruises's dividend payout ratio is 28.06%.

Royal Caribbean Cruises announced that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy 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 shares are undervalued.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of Royal Caribbean Cruises 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 transaction, the chief executive officer now directly owns 143,214 shares of the company's stock, valued at $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura H. Bethge sold 14,992 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were 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. The trade was a 41.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock valued at $28,571,705 in the last ninety days. 7.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Company 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.