Metis Global Partners LLC Boosts Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Metis Global Partners LLC raised its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,751 shares of the company’s stock after buying an additional 77 shares during the period. Metis Global Partners LLC’s holdings in Royal Caribbean Cruises were worth $2,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Plato Investment Management Ltd bought a new stake in shares of Royal Caribbean Cruises during the third quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC bought a new stake in Royal Caribbean Cruises during the 3rd quarter valued at $27,000. LRI Investments LLC bought a new stake in Royal Caribbean Cruises during the 3rd quarter valued at $31,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth $36,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter worth $40,000. 87.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jason T. Liberty sold 58,000 shares of the firm’s stock in a transaction dated 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 directly owns 143,214 shares in the company, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 sale, the insider now owns 21,155 shares in the company, valued at approximately $5,539,648.30. This represents a 41.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,492 shares of company stock valued at $28,571,705. 7.95% of the stock is owned by company insiders.

Royal Caribbean Cruises Price Performance

Shares of RCL stock opened at $246.04 on Monday. Royal Caribbean Cruises Ltd. has a fifty-two week low of $121.58 and a fifty-two week high of $277.08. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The firm has a market capitalization of $66.22 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 0.90 and a beta of 2.59. The stock’s 50-day simple moving average is $244.74 and its 200-day simple moving average is $216.35.

Royal Caribbean Cruises (NYSE:RCL) last released 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 net margin of 17.46% and a return on equity of 48.97%. During the same quarter in the prior year, the firm posted $1.25 EPS. As a group, equities analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be paid a $0.75 dividend. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.22%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 28.06%.

Royal Caribbean Cruises declared that its board has initiated 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 repurchase up to 1.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Macquarie lifted their price objective on Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Morgan Stanley boosted their price target on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Argus upped their price target on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Tigress Financial lifted their price objective on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Citigroup upped their target price on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.12.

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.