Mitsubishi UFJ Asset Management Co. Ltd. Buys 31,814 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,437 shares of the company’s stock after buying an additional 31,814 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.14% of Royal Caribbean Cruises worth $88,700,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Safe Harbor Fiduciary LLC bought a new stake in shares of Royal Caribbean Cruises during the third quarter valued at approximately $27,000. Bay Harbor Wealth Management LLC purchased a new position in Royal Caribbean Cruises during the 4th quarter worth $36,000. Truvestments Capital LLC bought a new stake in Royal Caribbean Cruises during the 4th quarter valued at $36,000. ORG Wealth Partners LLC bought a new stake in Royal Caribbean Cruises during the 4th quarter valued at $40,000. Finally, LRI Investments LLC bought a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth $31,000. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Down 1.2 %

NYSE:RCL opened at $217.23 on Friday. 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 twelve month low of $125.06 and a twelve month high of $277.08. The company has a market cap of $58.46 billion, a PE ratio of 20.32, a P/E/G ratio of 0.90 and a beta of 2.53. The company’s 50 day moving average is $239.31 and its two-hundred day moving average is $222.94.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating 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 quarter last year, the firm earned $1.25 EPS. Analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.38%. 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 (DPR) is presently 28.06%.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CFO Naftali Holtz sold 17,000 shares of the stock in a transaction dated 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 directly owns 42,127 shares of the company’s stock, valued at approximately $11,021,265.74. This trade represents a 28.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises stock in a transaction dated 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 transaction, the insider now owns 21,155 shares of the company’s stock, valued at $5,539,648.30. The trade was a 41.48 % 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 quarter. 7.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RCL. Mizuho restated an “outperform” rating and issued a $253.00 price objective (down from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Argus boosted their price target on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Tigress Financial increased their price objective on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Citigroup lifted their price objective on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Susquehanna restated a “positive” rating on shares of Royal Caribbean Cruises in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $282.33.

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.