Strategy Asset Managers LLC Purchases Shares of 1,074 Royal Caribbean Cruises Ltd. (NYSE:RCL)

Strategy Asset Managers LLC acquired a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,074 shares of the company’s stock, valued at approximately $248,000.

Several other hedge funds have also modified their holdings of RCL. Safe Harbor Fiduciary LLC purchased a new position in Royal Caribbean Cruises during the third quarter worth approximately $27,000. Brown Brothers Harriman & Co. raised its position in shares of Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after buying an additional 99 shares during the period. LRI Investments LLC acquired a new position in Royal Caribbean Cruises in the third quarter valued at $31,000. Bay Harbor Wealth Management LLC purchased a new stake in Royal Caribbean Cruises during the fourth quarter valued at about $36,000. Finally, Truvestments Capital LLC acquired a new stake in Royal Caribbean Cruises during the fourth quarter worth about $36,000. 87.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 185,021 shares in the company, valued at approximately $47,491,190.28. This represents a 9.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the business’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 transaction, 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. In the last ninety days, insiders have sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock opened at $207.35 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. Royal Caribbean Cruises Ltd. has a 1 year low of $125.06 and a 1 year high of $277.08. The firm’s 50-day simple moving average is $238.63 and its 200-day simple moving average is $223.72. The firm has a market cap of $55.80 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, January 28th. The company reported $1.63 EPS 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 period last year, the business posted $1.25 earnings per share. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be paid a $0.75 dividend. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, March 7th. Royal Caribbean Cruises’s payout ratio is presently 28.06%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Tigress Financial increased their target price on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. The Goldman Sachs Group dropped their price objective on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Mizuho restated an “outperform” rating and set a $253.00 target price (down previously from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Barclays increased their price target on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Susquehanna reaffirmed a “positive” rating on shares of Royal Caribbean Cruises in a research report on Tuesday. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $282.33.

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.