Howard Capital Management Inc. Buys 63 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Howard Capital Management Inc. boosted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,338 shares of the company’s stock after purchasing an additional 63 shares during the quarter. Howard Capital Management Inc.’s holdings in Royal Caribbean Cruises were worth $309,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RCL. Plato Investment Management Ltd bought a new position in Royal Caribbean Cruises during the third quarter worth $26,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Royal Caribbean Cruises during the third quarter worth $27,000. LRI Investments LLC acquired a new stake in shares of Royal Caribbean Cruises during the third quarter worth $31,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $36,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $40,000. 87.53% of the stock is owned by institutional investors.

Insider Transactions at Royal Caribbean Cruises

In other news, CEO Jason T. Liberty sold 58,000 shares of the company’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 value of $15,193,100.00. Following the completion of the transaction, the chief executive officer now owns 143,214 shares of the company’s stock, valued at $37,514,907.30. This represents a 28.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Laura H. Bethge sold 14,992 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the transaction, the insider now directly owns 21,155 shares of the company’s stock, valued at $5,539,648.30. This represents a 41.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,492 shares of company stock valued at $28,571,705. 7.95% of the stock is currently owned by insiders.

Royal Caribbean Cruises Stock Up 1.4 %

RCL stock opened at $237.49 on Tuesday. The stock has a market capitalization of $63.92 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 0.90 and a beta of 2.59. 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 12 month low of $119.48 and a 12 month high of $277.08. The firm has a 50-day moving average price of $244.24 and a 200-day moving average price of $213.89.

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

Royal Caribbean Cruises declared that its board has initiated a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors 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. 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 1.26%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio is 28.06%.

Wall Street Analysts Forecast Growth

RCL has been the subject of a number of research reports. Argus lifted their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Mizuho reissued 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. Bank of America lifted their target price on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group dropped their target price 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. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.12.

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.