HighTower Advisors LLC Reduces Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

HighTower Advisors LLC trimmed its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,004 shares of the company’s stock after selling 664 shares during the period. HighTower Advisors LLC’s holdings in Royal Caribbean Cruises were worth $9,229,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Safe Harbor Fiduciary LLC acquired a new stake in Royal Caribbean Cruises during the 3rd quarter worth $27,000. LRI Investments LLC acquired a new stake in shares of Royal Caribbean Cruises in the third quarter valued at about $31,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $36,000. ORG Wealth Partners LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $40,000. Finally, Atlantic Edge Private Wealth Management LLC increased its holdings in Royal Caribbean Cruises by 100.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company’s stock valued at $46,000 after acquiring an additional 100 shares in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Naftali Holtz sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the completion of the transaction, the chief financial officer now owns 42,127 shares in the company, valued at approximately $11,021,265.74. This trade represents a 28.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jason T. Liberty sold 58,000 shares of the firm’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 owns 143,214 shares of the company’s stock, valued at approximately $37,514,907.30. This trade represents a 28.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,492 shares of company stock valued at $28,571,705 over the last 90 days. 7.95% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Stock Up 3.6 %

Royal Caribbean Cruises stock opened at $219.71 on Tuesday. The company has a 50-day simple moving average of $241.13 and a 200-day simple moving average of $220.62. The firm has a market capitalization of $59.13 billion, a P/E ratio of 20.55, a P/E/G ratio of 0.90 and a beta of 2.53. 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 one year low of $125.06 and a one year high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly 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 net margin of 17.46% and a return on equity of 48.97%. During the same quarter last year, the company earned $1.25 earnings per share. As a group, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises declared that its board has authorized a stock buyback 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors 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 annualized dividend and a yield of 1.37%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio is presently 28.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Barclays lifted their price target on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Loop Capital raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Wednesday, March 5th. Finally, Susquehanna reduced their target price on shares of Royal Caribbean Cruises from $305.00 to $295.00 and set a “positive” rating on the stock in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $283.53.

About Royal Caribbean Cruises

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.