Commonwealth Equity Services LLC Acquires 3,994 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Commonwealth Equity Services LLC lifted its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,872 shares of the company’s stock after buying an additional 3,994 shares during the period. Commonwealth Equity Services LLC’s holdings in Royal Caribbean Cruises were worth $18,426,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RCL. Balboa Wealth Partners bought a new stake in shares of Royal Caribbean Cruises in the fourth quarter worth approximately $317,000. Achmea Investment Management B.V. boosted its holdings in Royal Caribbean Cruises by 115.0% in the fourth quarter. Achmea Investment Management B.V. now owns 34,381 shares of the company’s stock worth $7,931,000 after purchasing an additional 18,388 shares during the last quarter. Vestcor Inc grew its position in Royal Caribbean Cruises by 19.2% in the 4th quarter. Vestcor Inc now owns 5,567 shares of the company’s stock worth $1,284,000 after purchasing an additional 895 shares during the period. Rakuten Securities Inc. raised its stake in Royal Caribbean Cruises by 150.7% during the 4th quarter. Rakuten Securities Inc. now owns 346 shares of the company’s stock valued at $80,000 after buying an additional 208 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of Royal Caribbean Cruises by 1.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 13,362 shares of the company’s stock valued at $3,083,000 after buying an additional 156 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Trading Up 3.6 %

Royal Caribbean Cruises stock opened at $219.71 on Tuesday. Royal Caribbean Cruises Ltd. has a 1 year low of $125.06 and a 1 year high of $277.08. The firm’s 50 day moving average price is $241.13 and its 200-day moving average price is $220.62. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The stock has a market cap of $59.13 billion, a P/E ratio of 20.55, a PEG ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (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 period in the prior year, the company posted $1.25 EPS. On average, equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a yield of 1.37%. Royal Caribbean Cruises’s dividend payout ratio is presently 28.06%.

Insider Buying and Selling 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 shares were sold at an average price of $261.95, for a total value 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 approximately $37,514,907.30. This trade represents a 28.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Naftali Holtz sold 17,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the sale, the chief financial officer now directly owns 42,127 shares in the company, valued at approximately $11,021,265.74. The trade was a 28.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,492 shares of company stock worth $28,571,705 in the last quarter. 7.95% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on RCL shares. Barclays lifted their price objective on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Mizuho reaffirmed 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. Sanford C. Bernstein started coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price objective on the stock. The Goldman Sachs Group cut their target price on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, Citigroup increased their price target on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $283.53.

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.