Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 29.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 24,902 shares of the company’s stock after buying an additional 5,735 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Royal Caribbean Cruises were worth $5,795,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in Royal Caribbean Cruises by 10,599.0% during the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock valued at $72,696,000 after purchasing an additional 406,048 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Royal Caribbean Cruises by 138.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company’s stock valued at $28,703,000 after acquiring an additional 93,899 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Royal Caribbean Cruises in the third quarter worth about $14,544,000. Dakota Wealth Management grew its holdings in Royal Caribbean Cruises by 3,935.2% during the 3rd quarter. Dakota Wealth Management now owns 76,871 shares of the company’s stock worth $13,635,000 after acquiring an additional 74,966 shares in the last quarter. Finally, Mizuho Securities USA LLC increased its position in Royal Caribbean Cruises by 372.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 86,259 shares of the company’s stock valued at $15,299,000 after purchasing an additional 68,008 shares during the period. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

Shares of RCL opened at $264.39 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The stock has a 50-day moving average of $242.24 and a two-hundred day moving average of $204.62. The stock has a market cap of $71.09 billion, a P/E ratio of 24.73, a P/E/G ratio of 0.98 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a one year low of $113.10 and a one year high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last issued its 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 return on equity of 48.97% and a net margin of 17.46%. During the same period last year, the company earned $1.25 EPS. As a group, research analysts predict that Royal Caribbean Cruises Ltd. will post 14.96 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.20 annualized dividend and a dividend yield of 0.83%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 20.58%.

Insider Activity at Royal Caribbean Cruises

In related news, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the sale, the executive vice president now directly owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the sale, the director now owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 372,609 shares of company stock worth $87,647,208 over the last three months. Company insiders own 7.95% of the company’s stock.

Wall Street Analysts Forecast Growth

RCL has been the topic of several research reports. Macquarie lifted their price objective on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Morgan Stanley lifted their price target on Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Bank of America raised their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Citigroup boosted their target price on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group lowered their price target 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. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $284.12.

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.