Mackenzie Financial Corp Cuts Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Mackenzie Financial Corp lowered its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,843 shares of the company's stock after selling 8,927 shares during the period. Mackenzie Financial Corp's holdings in Royal Caribbean Cruises were worth $29,723,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of RCL. Brown Brothers Harriman & Co. boosted its holdings in Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after buying an additional 99 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $35,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth approximately $36,000. Truvestments Capital LLC purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth approximately $36,000. Finally, Atlantic Edge Private Wealth Management LLC raised its stake in Royal Caribbean Cruises by 100.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company's stock valued at $46,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company's stock.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of the sale, the director now owns 165,421 shares in the company, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.95% of the company's stock.

Royal Caribbean Cruises Trading Up 0.7%

Shares of NYSE RCL traded up $1.67 during mid-day trading on Friday, reaching $256.11. 1,009,287 shares of the company's stock were exchanged, compared to its average volume of 2,269,556. The company's 50-day moving average is $218.02 and its 200-day moving average is $231.69. 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 firm has a market capitalization of $69.55 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 0.90 and a beta of 2.12. Royal Caribbean Cruises Ltd. has a 52-week low of $130.08 and a 52-week high of $277.08.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.18. The company had revenue of $4 billion for the quarter, compared to analysts' expectations of $4.02 billion. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. Royal Caribbean Cruises's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.77 earnings per share. Analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Royal Caribbean Cruises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.17%. Royal Caribbean Cruises's dividend payout ratio is currently 24.92%.

Analyst Upgrades and Downgrades

RCL has been the topic of several recent research reports. Melius Research raised shares of Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday, April 21st. Susquehanna lowered their price target on shares of Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating on the stock in a research report on Wednesday, April 30th. Truist Financial increased their price objective on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a report on Monday, May 19th. BNP Paribas began coverage on shares of Royal Caribbean Cruises in a research note on Thursday, March 27th. They issued an "outperform" rating and a $262.00 target price on the stock. Finally, Morgan Stanley upped their price target on Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $271.95.

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.