Central Pacific Bank Trust Division Has $870,000 Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Central Pacific Bank Trust Division raised its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 432.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,235 shares of the company's stock after buying an additional 3,440 shares during the quarter. Central Pacific Bank Trust Division's holdings in Royal Caribbean Cruises were worth $870,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. raised its position 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 valued at $27,000 after buying an additional 99 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in Royal Caribbean Cruises during the 4th quarter valued at about $35,000. Bay Harbor Wealth Management LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter worth about $36,000. Truvestments Capital LLC acquired a new stake in Royal Caribbean Cruises during the 4th quarter valued at $36,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at $40,000. 87.53% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction 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 sale, the director now directly owns 165,421 shares of the company's stock, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.95% of the company's stock.

Royal Caribbean Cruises Trading Up 0.1%

NYSE:RCL traded up $0.36 on Wednesday, reaching $266.37. The company's stock had a trading volume of 481,406 shares, compared to its average volume of 2,270,617. Royal Caribbean Cruises Ltd. has a 1-year low of $130.08 and a 1-year high of $277.08. The business's 50-day moving average price is $220.49 and its two-hundred day moving average price is $232.25. The firm has a market cap of $72.34 billion, a PE ratio of 24.92, a PEG ratio of 0.90 and a beta of 2.14. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The business had revenue of $4 billion for the quarter, compared to analysts' expectations of $4.02 billion. During the same quarter in the previous year, the business posted $1.77 EPS. Royal Caribbean Cruises's revenue for the quarter was up 7.3% on a year-over-year basis. Equities research 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 has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Royal Caribbean Cruises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.13%. Royal Caribbean Cruises's payout ratio is currently 24.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RCL. Stifel Nicolaus reduced their target price on shares of Royal Caribbean Cruises from $310.00 to $265.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Barclays increased their price objective on Royal Caribbean Cruises from $249.00 to $263.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Tigress Financial lifted their target price on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Melius Research raised Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday, April 21st. Finally, Susquehanna lowered their price target on shares of Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating for the company in a research report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of "Moderate Buy" and an average price target of $273.95.

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.