OMERS ADMINISTRATION Corp Trims Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

OMERS ADMINISTRATION Corp trimmed its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 32.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,967 shares of the company's stock after selling 8,587 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Royal Caribbean Cruises were worth $4,145,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of RCL. Czech National Bank lifted its holdings in shares of Royal Caribbean Cruises by 11.2% during the 4th quarter. Czech National Bank now owns 53,634 shares of the company's stock worth $12,373,000 after acquiring an additional 5,390 shares during the period. Wedmont Private Capital raised its position in shares of Royal Caribbean Cruises by 5.4% during the 4th quarter. Wedmont Private Capital now owns 6,998 shares of the company's stock valued at $1,588,000 after acquiring an additional 358 shares during the last quarter. Cooper Financial Group acquired a new position in Royal Caribbean Cruises during the fourth quarter valued at approximately $277,000. Claro Advisors LLC acquired a new position in Royal Caribbean Cruises during the fourth quarter valued at approximately $337,000. Finally, BCS Wealth Management acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $227,000. 87.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the sale, the insider now owns 21,155 shares of the company's stock, valued at approximately $5,539,648.30. The trade was a 41.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the business's 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 completion of the transaction, the chief executive officer now owns 143,214 shares in the company, valued at approximately $37,514,907.30. The trade was 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 over the last 90 days. Company insiders own 7.95% of the company's stock.

Royal Caribbean Cruises Trading Down 0.6%

Shares of NYSE RCL traded down $1.57 during midday trading on Monday, reaching $253.85. 452,886 shares of the stock were exchanged, compared to its average volume of 2,286,294. The business has a 50-day simple moving average of $212.05 and a two-hundred day simple moving average of $230.06. The company has a market capitalization of $68.94 billion, a price-to-earnings ratio of 23.74, a P/E/G 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 company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15.

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 firm had revenue of $4 billion during the quarter, compared to analysts' expectations 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 quarter in the prior year, the company earned $1.77 EPS. As a group, equities research 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 approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Royal Caribbean Cruises Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently issued reports on RCL. Macquarie cut their target price on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group dropped their price objective on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley raised their target price on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Citigroup raised their target price on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Finally, Argus raised their target price on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $271.45.

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.