Nicholas Hoffman & Company LLC. Acquires New Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Nicholas Hoffman & Company LLC. bought a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,023 shares of the company’s stock, valued at approximately $236,000.

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

Royal Caribbean Cruises Trading Up 1.1 %

Shares of NYSE:RCL opened at $262.99 on Tuesday. The firm has a fifty day moving average of $243.57 and a two-hundred day moving average of $209.50. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a 12-month low of $113.10 and a 12-month high of $277.08. The firm has a market capitalization of $70.71 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 1.00 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business earned $1.25 earnings per share. On average, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.96 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors 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. 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 dividend on an annualized basis and a yield of 1.14%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio is currently 20.58%.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,500 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value 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. The trade was a 9.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $237.89, for a total value of $33,150,685.17. Following the transaction, the director now directly owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,109 shares of company stock valued at $38,919,868. 7.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RCL has been the topic of a number of research reports. Loop Capital started coverage on shares of Royal Caribbean Cruises in a report on Tuesday, February 4th. They issued a “hold” rating and a $250.00 target price on the stock. Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price objective for the company. Barclays lifted their target price on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. UBS Group upped their target price on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Macquarie increased their price target on Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.12.

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.