Royal Caribbean Cruises Ltd. (NYSE:RCL) Insider Sells $3,925,805.12 in Stock

Royal Caribbean Cruises Ltd. (NYSE:RCL) 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 sale, the insider now directly owns 21,155 shares of the company’s stock, valued at $5,539,648.30. The trade was a 41.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL traded down $19.81 on Thursday, hitting $244.20. 8,814,444 shares of the company were exchanged, compared to its average volume of 2,425,559. Royal Caribbean Cruises Ltd. has a 1-year low of $113.56 and a 1-year high of $277.08. The stock’s 50 day moving average price is $244.57 and its 200 day moving average price is $211.77. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $65.72 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 0.97 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last issued its 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 return on equity of 48.97% and a net margin of 17.46%. During the same period last year, the business posted $1.25 earnings per share. Sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio is 20.58%.

Royal Caribbean Cruises announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently commented on RCL shares. Tigress Financial boosted their price objective on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Susquehanna lifted their price target on Royal Caribbean Cruises from $245.00 to $305.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. 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. Finally, 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 research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus target price of $284.12.

Institutional Trading of Royal Caribbean Cruises

Several large investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. raised its holdings in shares of 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 purchasing an additional 99 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in Royal Caribbean Cruises during the 3rd quarter worth about $26,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $27,000. Fourth Dimension Wealth LLC purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at about $35,000. Finally, Bay Harbor Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at about $36,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

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.