Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Pitcairn Co.

Pitcairn Co. lessened its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 9.1% in the fourth quarter, HoldingsChannel reports. The fund owned 1,999 shares of the company’s stock after selling 200 shares during the period. Pitcairn Co.’s holdings in Royal Caribbean Cruises were worth $461,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brown Brothers Harriman & Co. lifted its holdings in Royal Caribbean Cruises by 618.8% in 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 period. Bay Harbor Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $36,000. Truvestments Capital LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $36,000. ORG Wealth Partners LLC acquired a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $40,000. Finally, LRI Investments LLC bought a new stake in Royal Caribbean Cruises during the third quarter worth approximately $31,000. Institutional investors own 87.53% of the company’s stock.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the sale, the insider now owns 21,155 shares of the company’s stock, valued at approximately $5,539,648.30. The trade was a 41.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was 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 $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. Insiders sold 109,492 shares of company stock worth $28,571,705 over the last ninety days. 7.95% of the stock is currently owned by insiders.

Royal Caribbean Cruises Stock Down 5.9 %

RCL stock opened at $177.60 on Friday. The company has a 50 day moving average of $234.61 and a two-hundred day moving average of $224.82. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a 12-month low of $125.06 and a 12-month high of $277.08. The company has a market cap of $47.80 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.90 and a beta of 2.26.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data 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 return on equity of 48.97% and a net margin of 17.46%. During the same quarter in the previous year, the business earned $1.25 earnings per share. On average, equities analysts anticipate 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 buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 7th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 28.06%.

Wall Street Analyst Weigh In

RCL has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. BNP Paribas assumed coverage on shares of Royal Caribbean Cruises in a research report on Thursday, March 27th. They issued an “outperform” rating and a $262.00 price target on the stock. Mizuho restated an “outperform” rating and set a $253.00 price objective (down previously from $255.00) on shares of Royal Caribbean Cruises in a research report on Thursday, January 23rd. Jefferies Financial Group initiated coverage on shares of Royal Caribbean Cruises in a report on Monday, March 31st. They issued a “hold” rating and a $230.00 target price on the stock. Finally, UBS Group raised their target price on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.58.

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.