Newbrook Capital Advisors LP Reduces Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Newbrook Capital Advisors LP lessened its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 38.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 146,725 shares of the company's stock after selling 91,365 shares during the period. Royal Caribbean Cruises accounts for approximately 4.3% of Newbrook Capital Advisors LP's holdings, making the stock its 10th biggest position. Newbrook Capital Advisors LP owned 0.05% of Royal Caribbean Cruises worth $33,848,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. increased its holdings in shares of Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after buying an additional 99 shares in the last quarter. Bay Harbor Wealth Management LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter valued at approximately $36,000. Truvestments Capital LLC acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at about $36,000. Atlantic Edge Private Wealth Management LLC raised 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 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 4th quarter worth approximately $50,000. Institutional investors own 87.53% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Loop Capital upgraded Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 price objective for the company in a research report on Wednesday, March 5th. Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday, April 21st. Truist Financial lifted their price target on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a report on Monday. The Goldman Sachs Group decreased their price objective on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Barclays raised their price target on shares of Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $271.45.

Royal Caribbean Cruises Stock Down 0.5%

Royal Caribbean Cruises stock traded down $1.34 during trading hours on Monday, hitting $254.08. 486,396 shares of the stock traded hands, compared to its average volume of 2,286,457. Royal Caribbean Cruises Ltd. has a one year low of $130.08 and a one year high of $277.08. The company has a market cap of $69.00 billion, a PE ratio of 23.77, 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. The firm's 50-day moving average price is $212.05 and its two-hundred day moving average price is $230.06.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.18. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The company's revenue was up 7.3% on a year-over-year basis. During the same period last year, the company earned $1.77 earnings per share. On average, research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.18%. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 24.92%.

Royal Caribbean Cruises declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 1.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 21,155 shares in the company, valued at $5,539,648.30. This trade represents a 41.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 143,214 shares of the company's stock, valued at $37,514,907.30. This trade represents a 28.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,992 shares of company stock worth $23,566,445 in the last quarter. Company insiders own 7.95% of the company's stock.

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.