NEOS Investment Management LLC Acquires 2,483 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

NEOS Investment Management LLC raised its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 28.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,183 shares of the company’s stock after purchasing an additional 2,483 shares during the quarter. NEOS Investment Management LLC’s holdings in Royal Caribbean Cruises were worth $2,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of RCL. Safe Harbor Fiduciary LLC bought a new position in shares of Royal Caribbean Cruises during the third quarter valued at $27,000. LRI Investments LLC bought a new position in Royal Caribbean Cruises during the 3rd quarter valued at about $31,000. Bay Harbor Wealth Management LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter valued at about $36,000. Truvestments Capital LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter worth about $36,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth approximately $40,000. 87.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RCL has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price target on Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. The Goldman Sachs Group cut their price target on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, January 24th. UBS Group increased their price objective on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Morgan Stanley raised their price objective on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company upped their target price on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and a consensus price target of $282.33.

Insider Transactions at Royal Caribbean Cruises

In other news, CEO Jason T. Liberty sold 58,000 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 18th. The stock was 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 in the company, valued at $37,514,907.30. The trade was a 28.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard D. Fain sold 19,500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 185,021 shares of the company’s stock, valued at $47,491,190.28. This represents a 9.53 % 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 three months. 7.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Trading Down 4.6 %

NYSE RCL opened at $207.35 on Friday. Royal Caribbean Cruises Ltd. has a 12 month low of $125.06 and a 12 month high of $277.08. The stock has a 50-day simple moving average of $238.63 and a 200 day simple moving average of $223.27. 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 company has a market capitalization of $55.80 billion, a PE ratio of 19.40, a P/E/G ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm posted $1.25 earnings per share. Research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be issued a $0.75 dividend. The ex-dividend date is Friday, March 7th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a yield of 1.45%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 28.06%.

Royal Caribbean Cruises announced that its board has initiated a stock 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 reacquire up to 1.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.