Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 6.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 395,121 shares of the company’s stock after selling 26,742 shares during the quarter. California Public Employees Retirement System owned approximately 0.15% of Royal Caribbean Cruises worth $91,150,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brown Brothers Harriman & Co. raised its position in Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after acquiring an additional 99 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth approximately $27,000. Bay Harbor Wealth Management LLC purchased a new stake in Royal Caribbean Cruises in the 4th quarter valued at approximately $36,000. Truvestments Capital LLC acquired a new stake in Royal Caribbean Cruises during the 4th quarter valued at $36,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $40,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Stifel Nicolaus increased their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Morgan Stanley lifted their price target on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Macquarie lifted their target price on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Truist Financial increased their price target on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $279.58.

Insider Transactions at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 14,992 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 21,155 shares in the company, 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 legal filing with the SEC, which can be accessed through this link. Also, CEO Jason T. Liberty sold 58,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,492 shares of company stock valued at $28,571,705. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $205.60 on Tuesday. The firm’s fifty day simple moving average is $237.90 and its 200 day simple moving average is $224.44. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a twelve month low of $125.06 and a twelve month high of $277.08. The firm has a market capitalization of $55.33 billion, a price-to-earnings ratio of 19.23, a PEG 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 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 period in the prior year, the business earned $1.25 earnings per share. As a group, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 28.06%.

Royal Caribbean Cruises announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 1.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are 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.