Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Acquired by Mission Wealth Management LP

Mission Wealth Management LP lifted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 14.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,394 shares of the company’s stock after purchasing an additional 180 shares during the quarter. Mission Wealth Management LP’s holdings in Royal Caribbean Cruises were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in RCL. Plato Investment Management Ltd bought a new position in Royal Caribbean Cruises in the 3rd quarter worth approximately $26,000. Safe Harbor Fiduciary LLC bought a new position in Royal Caribbean Cruises in the 3rd quarter worth approximately $27,000. LRI Investments LLC bought a new position in Royal Caribbean Cruises in the 3rd quarter worth approximately $31,000. Bay Harbor Wealth Management LLC bought a new position in Royal Caribbean Cruises in the 4th quarter worth approximately $36,000. Finally, ORG Wealth Partners LLC bought a new position in Royal Caribbean Cruises in the 4th quarter worth approximately $40,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, December 6th. UBS Group increased their price objective on Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Tigress Financial increased their price objective on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, February 7th. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. increased their price target on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $283.53.

Insider Activity

In other news, insider Laura H. Bethge sold 14,992 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the sale, the insider now owns 21,155 shares in the company, valued at $5,539,648.30. This represents a 41.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard D. Fain sold 19,500 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the completion of the sale, the director now owns 185,021 shares of the company’s stock, valued at $47,491,190.28. The trade was a 9.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,492 shares of company stock worth $28,571,705 over the last quarter. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Stock Performance

RCL opened at $231.33 on Thursday. The firm has a market cap of $62.26 billion, a PE ratio of 21.64, a P/E/G ratio of 0.90 and a beta of 2.53. 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 business has a fifty day simple moving average of $244.35 and a 200-day simple moving average of $217.50. Royal Caribbean Cruises Ltd. has a fifty-two week low of $124.24 and a fifty-two week high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same quarter last year, the firm posted $1.25 earnings per share. As a group, equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be issued a $0.75 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.30%. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio is presently 28.06%.

Royal Caribbean Cruises announced that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Royal Caribbean Cruises 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.