Mufg Securities Americas Inc. acquired a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,652 shares of the company's stock, valued at approximately $842,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of RCL. Brown Brothers Harriman & Co. lifted its stake 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 worth $27,000 after purchasing an additional 99 shares in the last quarter. Bay Harbor Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter worth about $36,000. Truvestments Capital LLC acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter worth about $36,000. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Royal Caribbean Cruises by 100.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company's stock worth $46,000 after acquiring an additional 100 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter worth about $50,000. Institutional investors and hedge funds own 87.53% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on RCL. Morgan Stanley boosted their price target on Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Macquarie cut their price target on Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Citigroup boosted their price target on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Jefferies Financial Group began coverage on Royal Caribbean Cruises in a research note on Monday, March 31st. They issued a "hold" rating and a $230.00 price target on the stock. Finally, Tigress Financial boosted their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $271.30.
Check Out Our Latest Stock Report on RCL
Royal Caribbean Cruises Stock Performance
Shares of NYSE:RCL traded up $5.51 during trading on Friday, hitting $255.62. 2,298,337 shares of the company traded hands, compared to its average volume of 2,293,586. The stock has a market capitalization of $69.42 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 0.90 and a beta of 2.12. The business's fifty day moving average is $212.05 and its 200-day moving average is $229.90. Royal Caribbean Cruises Ltd. has a one year low of $130.08 and a one year 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.
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 the consensus estimate of $2.53 by $0.18. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $4.02 billion. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The business's revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.77 earnings per share. As a group, equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.
Royal Caribbean Cruises Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors 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 24.92%.
Royal Caribbean Cruises announced that its board has authorized a share repurchase program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling
In related news, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total value of $15,193,100.00. Following the completion of the transaction, the chief executive officer now directly owns 143,214 shares of the company's stock, valued at $37,514,907.30. This represents a 28.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Laura H. Bethge sold 14,992 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the transaction, the insider now directly owns 21,155 shares of the company's stock, valued at $5,539,648.30. This trade represents a 41.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,992 shares of company stock valued at $23,566,445 in the last three months. 7.95% of the stock is currently owned by corporate insiders.
Royal Caribbean Cruises Profile
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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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