Candlestick Capital Management LP reduced its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 91.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,466 shares of the company's stock after selling 249,663 shares during the quarter. Candlestick Capital Management LP's holdings in Royal Caribbean Cruises were worth $5,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. SOA Wealth Advisors LLC. increased its position in Royal Caribbean Cruises by 33.3% during the third quarter. SOA Wealth Advisors LLC. now owns 300 shares of the company's stock valued at $53,000 after acquiring an additional 75 shares during the last quarter. Anchor Investment Management LLC raised its stake in Royal Caribbean Cruises by 175.0% during the third quarter. Anchor Investment Management LLC now owns 319 shares of the company's stock valued at $57,000 after purchasing an additional 203 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Royal Caribbean Cruises during the third quarter valued at $7,107,000. Wilmington Savings Fund Society FSB bought a new position in Royal Caribbean Cruises during the third quarter valued at $109,000. Finally, American Trust bought a new position in shares of Royal Caribbean Cruises in the third quarter worth about $204,000. 87.53% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently weighed in on RCL. Northcoast Research began coverage on shares of Royal Caribbean Cruises in a research note on Friday, April 25th. They issued a "buy" rating and a $279.00 price objective for the company. Loop Capital upgraded shares of Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 target price for the company in a research report on Wednesday, March 5th. Argus upped their price objective on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group reduced their price target on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a research report on Monday, April 21st. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $272.55.
View Our Latest Report on RCL
Insider Buying and Selling at Royal Caribbean Cruises
In other news, CFO Naftali Holtz sold 17,000 shares of Royal Caribbean Cruises stock in a transaction that occurred 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 owns 42,127 shares in the company, valued at $11,021,265.74. This trade represents a 28.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jason T. Liberty sold 58,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on 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 sale, the chief executive officer now owns 143,214 shares in the company, valued at $37,514,907.30. This represents a 28.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,492 shares of company stock worth $28,571,705. Corporate insiders own 7.95% of the company's stock.
Royal Caribbean Cruises Price Performance
Shares of Royal Caribbean Cruises stock traded down $1.66 on Wednesday, hitting $214.92. The company's stock had a trading volume of 2,716,883 shares, compared to its average volume of 2,310,794. Royal Caribbean Cruises Ltd. has a 52-week low of $130.08 and a 52-week high of $277.08. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The firm has a fifty day moving average price of $210.01 and a 200-day moving average price of $226.83. The company has a market capitalization of $58.35 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 0.90 and a beta of 2.26.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the firm earned $1.77 EPS. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.
Royal Caribbean Cruises Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 7th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.40%. This is a positive change 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 program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.
About Royal Caribbean Cruises
(
Free Report)
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.
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