NorthRock Partners LLC Takes $547,000 Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

NorthRock Partners LLC acquired a new stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,372 shares of the company's stock, valued at approximately $547,000.

Several other large investors also recently bought and sold shares of RCL. Fifth Third Wealth Advisors LLC grew its stake in Royal Caribbean Cruises by 2.2% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company's stock valued at $544,000 after acquiring an additional 50 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Royal Caribbean Cruises by 7.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,177 shares of the company's stock valued at $1,425,000 after acquiring an additional 438 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Royal Caribbean Cruises by 20.1% in the 4th quarter. Park Avenue Securities LLC now owns 6,630 shares of the company's stock valued at $1,530,000 after buying an additional 1,111 shares during the period. Burney Co. purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at approximately $241,000. Finally, Essex Savings Bank purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at approximately $207,000. Hedge funds and other institutional investors own 87.53% of the company's stock.

Insiders Place Their Bets

In other news, Director Richard D. Fain sold 19,600 shares of the firm'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 in the company, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.95% of the stock is owned by company insiders.

Analyst Ratings Changes

RCL has been the subject of several analyst reports. The Goldman Sachs Group dropped their price target on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. UBS Group increased their price target on shares of Royal Caribbean Cruises from $301.00 to $311.00 and gave the company a "buy" rating in a research note on Tuesday. Argus increased 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. BNP Paribas initiated 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 for the company. Finally, Northcoast Research started coverage on shares of Royal Caribbean Cruises in a research note on Friday, April 25th. They issued a "buy" rating and a $279.00 price target for the company. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Royal Caribbean Cruises has a consensus rating of "Moderate Buy" and an average target price of $271.95.

Royal Caribbean Cruises Stock Down 2.0%

Royal Caribbean Cruises stock traded down $5.04 during mid-day trading on Tuesday, reaching $248.99. 1,363,391 shares of the company's stock were exchanged, compared to its average volume of 2,286,217. The company has a market cap of $67.62 billion, a P/E ratio of 23.29, a P/E/G ratio of 0.90 and a beta of 2.12. Royal Caribbean Cruises Ltd. has a twelve month low of $130.08 and a twelve month 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. The company has a fifty day moving average of $212.98 and a 200-day moving average of $230.42.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.18. The company 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%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.77 EPS. Sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises announced that its Board of Directors has authorized a share 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 repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Royal Caribbean Cruises Announces Dividend

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 dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.20%. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 24.92%.

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.