Korea Investment CORP Sells 70,947 Shares of Royal Caribbean Cruises Ltd. $RCL

Korea Investment CORP decreased its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 33.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,828 shares of the company’s stock after selling 70,947 shares during the quarter. Korea Investment CORP owned about 0.05% of Royal Caribbean Cruises worth $45,893,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in Royal Caribbean Cruises by 6.4% in the third quarter. Versant Capital Management Inc now owns 562 shares of the company’s stock valued at $182,000 after purchasing an additional 34 shares in the last quarter. EWA LLC raised its holdings in Royal Caribbean Cruises by 4.6% in the third quarter. EWA LLC now owns 794 shares of the company’s stock worth $257,000 after purchasing an additional 35 shares during the period. Rakuten Securities Inc. boosted its position in shares of Royal Caribbean Cruises by 16.1% during the second quarter. Rakuten Securities Inc. now owns 252 shares of the company’s stock worth $79,000 after purchasing an additional 35 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Royal Caribbean Cruises by 1.0% during the second quarter. Valeo Financial Advisors LLC now owns 3,823 shares of the company’s stock worth $1,197,000 after purchasing an additional 39 shares in the last quarter. Finally, AA Financial Advisors LLC grew its holdings in shares of Royal Caribbean Cruises by 1.5% in the 3rd quarter. AA Financial Advisors LLC now owns 2,683 shares of the company’s stock valued at $868,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 87.53% of the company’s stock.

Insider Activity at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 7,854 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $326.21, for a total transaction of $2,562,053.34. Following the sale, the insider owned 32,786 shares in the company, valued at approximately $10,695,121.06. This represents a 19.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Maritza Gomez Montiel sold 1,385 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $327.18, for a total value of $453,144.30. Following the transaction, the director directly owned 12,849 shares of the company’s stock, valued at $4,203,935.82. This trade represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,967,319 shares of company stock valued at $626,681,935. 6.95% of the stock is owned by insiders.

Royal Caribbean Cruises Price Performance

NYSE RCL opened at $278.32 on Monday. The firm’s 50 day moving average is $304.23 and its 200-day moving average is $302.08. The company has a quick ratio of 0.16, a current ratio of 0.18 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $75.29 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 0.91 and a beta of 1.87. Royal Caribbean Cruises Ltd. has a 12-month low of $164.01 and a 12-month high of $366.50.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, January 29th. The company reported $2.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.80. Royal Caribbean Cruises had a net margin of 23.80% and a return on equity of 45.06%. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter last year, the firm earned $1.63 earnings per share. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises announced that its board has approved a stock repurchase plan on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally 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 3rd. Investors of record on Friday, March 6th will be given a $1.50 dividend. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $1.00. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, March 6th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 38.44%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RCL shares. TD Cowen restated a “buy” rating on shares of Royal Caribbean Cruises in a research report on Tuesday, January 13th. Barclays lifted their target price on Royal Caribbean Cruises from $324.00 to $361.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Tigress Financial boosted their target price on Royal Caribbean Cruises from $415.00 to $425.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Stifel Nicolaus increased their price target on Royal Caribbean Cruises from $380.00 to $420.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Truist Financial dropped their price target on Royal Caribbean Cruises from $321.00 to $318.00 and set a “hold” rating on the stock in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $348.29.

Royal Caribbean Cruises Profile

Royal Caribbean Cruises (NYSE: RCL), operating as part of the Royal Caribbean Group, is a global cruise company that develops, markets and operates passenger cruise ships. The company operates multiple consumer-facing cruise brands that offer short- and long-duration itineraries and a range of onboard experiences. Its core activities include itineraries and voyage operations, guest services and hospitality, onboard food and beverage, entertainment and recreation programming, and the commercial activities needed to sell and support cruises through both direct and travel‑agent channels.

Royal Caribbean’s ships serve a broad set of geographies worldwide, regularly deploying vessels in the Caribbean, North America (including Alaska), Europe, Asia, Australia and South America.