Nissay Asset Management Corp Japan ADV Has $69.23 Million Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Nissay Asset Management Corp Japan ADV trimmed its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,473 shares of the company's stock after selling 86,270 shares during the quarter. Nissay Asset Management Corp Japan ADV owned approximately 0.11% of Royal Caribbean Cruises worth $69,225,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. increased its position in Royal Caribbean Cruises by 618.8% during the 4th 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 Royal Caribbean Cruises during the 4th quarter worth approximately $36,000. Truvestments Capital LLC acquired a new position in Royal Caribbean Cruises during the 4th quarter worth approximately $36,000. Atlantic Edge Private Wealth Management LLC grew its holdings in Royal Caribbean Cruises by 100.0% during the 4th 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 during the last quarter. Finally, Decker Retirement Planning Inc. bought a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $50,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Up 2.2%

NYSE RCL traded up $5.51 on Friday, hitting $255.62. 2,298,337 shares of the company were exchanged, compared to its average volume of 2,289,558. The company has a market cap of $69.42 billion, a PE ratio of 23.91, a PEG ratio of 0.90 and a beta of 2.12. Royal Caribbean Cruises Ltd. has a 12 month low of $130.08 and a 12 month high of $277.08. The stock has a fifty day moving average of $212.05 and a 200-day moving average of $229.75. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its earnings results 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. The business had revenue of $4 billion for the quarter, compared to analyst estimates 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 was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 earnings per share. As a group, analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises declared that its board has authorized a stock buyback program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Royal Caribbean Cruises Announces Dividend

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

Insider Buying and Selling

In related news, CFO Naftali Holtz sold 17,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the transaction, the chief financial officer now directly owns 42,127 shares of the company's stock, valued at $11,021,265.74. This represents a 28.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura H. Bethge sold 14,992 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the transaction, the insider now owns 21,155 shares in the company, valued at approximately $5,539,648.30. The trade was a 41.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,992 shares of company stock valued at $23,566,445 over the last ninety days. 7.95% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Royal Caribbean Cruises in a report on Monday, March 31st. They set a "hold" rating and a $230.00 target price on the stock. Susquehanna reduced their target price on shares of Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group reduced their target price on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their target price on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Finally, Macquarie reduced their target price on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Four 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $271.30.

Royal Caribbean Cruises Company 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.