Gotham Asset Management LLC lowered its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 14.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,783 shares of the company's stock after selling 1,919 shares during the period. Gotham Asset Management LLC's holdings in Royal Caribbean Cruises were worth $2,718,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares 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 period. Bay Harbor Wealth Management LLC bought a new position in Royal Caribbean Cruises in the 4th quarter worth $36,000. Truvestments Capital LLC purchased a new stake in Royal Caribbean Cruises in the 4th quarter worth $36,000. Atlantic Edge Private Wealth Management LLC lifted 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 worth $46,000 after purchasing an additional 100 shares in the last quarter. Finally, Decker Retirement Planning Inc. purchased a new stake in Royal Caribbean Cruises in the 4th quarter worth $50,000. Institutional investors own 87.53% of the company's stock.
Royal Caribbean Cruises Stock Down 0.6%
Shares of NYSE RCL traded down $1.43 during mid-day trading on Monday, reaching $253.99. The company had a trading volume of 1,366,874 shares, compared to its average volume of 2,289,879. 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 firm has a 50 day simple moving average of $212.05 and a two-hundred day simple moving average of $230.06. The stock has a market cap of $68.97 billion, a P/E ratio of 23.76, 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 issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share (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 company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the firm posted $1.77 EPS. Royal Caribbean Cruises's revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.
Royal Caribbean Cruises announced that its Board of Directors has approved a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.
Royal Caribbean Cruises Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.18%. Royal Caribbean Cruises's payout ratio is currently 24.92%.
Insiders Place Their Bets
In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the transaction, the insider now directly owns 21,155 shares of the company's stock, valued at approximately $5,539,648.30. This trade represents a 41.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the firm's 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. In the last three months, insiders have sold 89,992 shares of company stock valued at $23,566,445. Insiders own 7.95% of the company's stock.
Analyst Ratings Changes
Several analysts have commented on RCL shares. Truist Financial boosted their price target on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a "buy" rating in a research note on Monday. UBS Group boosted their price target on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday, April 21st. BNP Paribas started coverage on shares of Royal Caribbean Cruises in a research note on Thursday, March 27th. They issued an "outperform" rating and a $262.00 price target on the stock. Finally, The Goldman Sachs Group decreased their price target on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $271.45.
Get Our Latest Stock Analysis on RCL
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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