Waverly Advisors LLC Buys Shares of 1,507 Royal Caribbean Cruises Ltd. (NYSE:RCL)

Waverly Advisors LLC acquired a new stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,507 shares of the company's stock, valued at approximately $348,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RCL. Brown Brothers Harriman & Co. raised its stake in shares of Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after purchasing an additional 99 shares in the last quarter. Bay Harbor Wealth Management LLC bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at about $36,000. Truvestments Capital LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter worth approximately $36,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of 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 worth $46,000 after buying an additional 100 shares in the last quarter. Finally, Spurstone Advisory Services LLC bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RCL. Melius Research raised shares of Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday, April 21st. Jefferies Financial Group assumed coverage on shares of Royal Caribbean Cruises in a research note on Monday, March 31st. They set a "hold" rating and a $230.00 price target on the stock. BNP Paribas assumed coverage on Royal Caribbean Cruises in a research note on Thursday, March 27th. They issued an "outperform" rating and a $262.00 price objective on the stock. Loop Capital raised Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 price target on the stock in a research note on Wednesday, March 5th. Finally, Argus lifted their price target on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Four investment 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. According to data from MarketBeat, Royal Caribbean Cruises has an average rating of "Moderate Buy" and an average target price of $271.95.

Insider Activity

In related news, Director Richard D. Fain sold 19,600 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of the transaction, the director now directly owns 165,421 shares in the company, valued at approximately $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 7.95% of the company's stock.

Royal Caribbean Cruises Trading Up 6.5%

Royal Caribbean Cruises stock traded up $15.53 during trading on Tuesday, hitting $255.65. The company had a trading volume of 2,726,497 shares, compared to its average volume of 2,273,753. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The stock has a market cap of $69.42 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 0.90 and a beta of 2.12. The company's 50 day simple moving average is $216.74 and its 200-day simple moving average is $231.42. Royal Caribbean Cruises Ltd. has a 1-year low of $130.08 and a 1-year high of $277.08.

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

Royal Caribbean Cruises Dividend Announcement

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

Royal Caribbean Cruises declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.