SVB Wealth LLC Purchases New Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

SVB Wealth LLC purchased a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 25,707 shares of the company’s stock, valued at approximately $5,930,000.

Several other large investors have also recently added to or reduced their stakes in the company. National Pension Service raised its holdings in shares of Royal Caribbean Cruises by 138.9% in the fourth quarter. National Pension Service now owns 864,049 shares of the company’s stock valued at $199,327,000 after buying an additional 502,349 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Royal Caribbean Cruises in the 4th quarter valued at about $69,556,000. AustralianSuper Pty Ltd raised its stake in shares of Royal Caribbean Cruises by 2,042.8% in the fourth quarter. AustralianSuper Pty Ltd now owns 122,887 shares of the company’s stock worth $28,349,000 after acquiring an additional 117,152 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Royal Caribbean Cruises by 138.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company’s stock worth $28,703,000 after acquiring an additional 93,899 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Royal Caribbean Cruises during the third quarter worth approximately $14,544,000. 87.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RCL has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Argus lifted their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Truist Financial upped their price target on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Citigroup lifted their price objective on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Finally, UBS Group upped their target price on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $284.12.

Royal Caribbean Cruises Trading Up 3.3 %

Shares of NYSE RCL opened at $246.04 on Friday. Royal Caribbean Cruises Ltd. has a twelve month low of $121.58 and a twelve month high of $277.08. The stock has a market cap of $66.22 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 0.90 and a beta of 2.59. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The company’s fifty day moving average is $244.74 and its 200-day moving average is $215.91.

Royal Caribbean Cruises (NYSE:RCL) last posted 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 quarter last year, the firm earned $1.25 EPS. Equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.22%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises’s dividend payout ratio is presently 28.06%.

Royal Caribbean Cruises announced that its Board of Directors has initiated a share 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 buy up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Richard D. Fain sold 19,500 shares of the stock in a transaction on 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Naftali Holtz sold 17,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the sale, the chief financial officer now owns 42,127 shares in the company, valued at approximately $11,021,265.74. The trade was a 28.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,492 shares of company stock worth $28,571,705. Company insiders own 7.95% of the company’s stock.

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.