Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 266,041 shares of the company's stock after selling 14,815 shares during the quarter. Ameriprise Financial Inc. owned about 0.10% of Royal Caribbean Cruises worth $61,490,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brown Brothers Harriman & Co. grew its position in Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after acquiring an additional 99 shares during the period. Bay Harbor Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $36,000. Truvestments Capital LLC purchased a new stake in Royal Caribbean Cruises in the 4th quarter valued at about $36,000. ORG Wealth Partners LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter valued at about $40,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its stake in Royal Caribbean Cruises by 100.0% during the fourth 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 during the period. Hedge funds and other institutional investors own 87.53% of the company's stock.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,500 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the transaction, the director now directly owns 185,021 shares of the company's stock, valued at approximately $47,491,190.28. This trade represents a 9.53 % 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 company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the completion of the sale, the chief executive officer now directly owns 143,214 shares of the company's stock, 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. Insiders have sold a total of 109,492 shares of company stock valued at $28,571,705 over the last quarter. Company insiders own 7.95% of the company's stock.

Royal Caribbean Cruises Stock Up 0.4 %

RCL stock opened at $233.69 on Friday. The stock has a market cap of $63.46 billion, a P/E ratio of 21.86, a PEG ratio of 0.90 and a beta of 2.12. 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 Ltd. has a twelve month low of $130.08 and a twelve month high of $277.08. The company's 50 day moving average is $208.59 and its two-hundred day moving average is $228.17.

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 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 analysts' expectations 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 quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.77 earnings per share. Research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises announced that its board has approved a stock buyback plan 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 plans are often an indication that the company's leadership believes its shares are undervalued.

Royal Caribbean Cruises Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 1.28%. Royal Caribbean Cruises's dividend payout ratio is presently 24.92%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RCL. BNP Paribas initiated coverage on shares of Royal Caribbean Cruises in a report on Thursday, March 27th. They issued an "outperform" rating and a $262.00 price objective on the stock. Macquarie lowered their price target on Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating for the company in a research report on Friday. Northcoast Research started coverage on Royal Caribbean Cruises in a research note on Friday, April 25th. They issued a "buy" rating and a $279.00 price objective for the company. The Goldman Sachs Group decreased their target price on 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. Finally, Citigroup lifted their target price on Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Four 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 data from MarketBeat, Royal Caribbean Cruises presently has an average rating of "Moderate Buy" and an average price target of $271.30.

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.

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