Polymer Capital Management HK LTD Has $2.08 Million Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Polymer Capital Management HK LTD decreased its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 40.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,000 shares of the company’s stock after selling 6,000 shares during the quarter. Polymer Capital Management HK LTD’s holdings in Royal Caribbean Cruises were worth $2,076,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Brown Brothers Harriman & Co. grew its position in Royal Caribbean Cruises by 618.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after acquiring an additional 99 shares during the last quarter. LRI Investments LLC acquired a new stake in Royal Caribbean Cruises in the third quarter worth $31,000. Bay Harbor Wealth Management LLC bought a new stake in Royal Caribbean Cruises in the 4th quarter valued at about $36,000. Truvestments Capital LLC bought a new position in shares of Royal Caribbean Cruises in the 4th quarter worth $36,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at about $40,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $177.60 on Friday. 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 fifty-two week low of $125.06 and a fifty-two week high of $277.08. The firm’s fifty day simple moving average is $234.61 and its 200-day simple moving average is $224.82. The stock has a market cap of $47.80 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 0.90 and a beta of 2.26.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) 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 in the prior year, the company posted $1.25 earnings per share. Analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 7th were issued a dividend of $0.75 per share. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, March 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.69%. Royal Caribbean Cruises’s payout ratio is presently 28.06%.

Royal Caribbean Cruises announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

RCL has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Jefferies Financial Group began coverage on shares of Royal Caribbean Cruises in a research report on Monday, March 31st. They set a “hold” rating and a $230.00 price objective on the stock. Tigress Financial raised their price objective on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company increased their price objective on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Finally, Argus increased their price objective on Royal Caribbean Cruises from $280.00 to $305.00 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 sixteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $279.58.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction that occurred on 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 transaction, the director now owns 185,021 shares in the company, valued at approximately $47,491,190.28. This trade represents a 9.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction 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 represents a 28.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 109,492 shares of company stock worth $28,571,705. Corporate insiders own 7.95% of the company’s stock.

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.