Royal Caribbean Cruises Ltd. (NYSE:RCL) Stock Position Increased by Summit Financial LLC

Summit Financial LLC grew its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 25.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,434 shares of the company’s stock after purchasing an additional 1,320 shares during the period. Summit Financial LLC’s holdings in Royal Caribbean Cruises were worth $1,488,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RCL. Brown Brothers Harriman & Co. raised its position in shares of 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 buying an additional 99 shares in the last quarter. Safe Harbor Fiduciary LLC acquired a new position in shares of Royal Caribbean Cruises during the third quarter valued at approximately $27,000. Bay Harbor Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $36,000. Truvestments Capital LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter worth approximately $36,000. Finally, ORG Wealth Partners LLC acquired a new stake in Royal Caribbean Cruises in the fourth quarter worth approximately $40,000. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Up 1.2 %

NYSE:RCL opened at $207.87 on Wednesday. The business’s fifty day moving average price is $237.20 and its 200 day moving average price is $224.72. The firm has a market capitalization of $55.94 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 0.90 and a beta of 2.53. 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 1-year low of $125.06 and a 1-year high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results 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 return on equity of 48.97% and a net margin of 17.46%. During the same period in the prior year, the business posted $1.25 EPS. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be given a dividend of $0.75 per share. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 28.06%.

Royal Caribbean Cruises announced that its board has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 1.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently commented on RCL. Stifel Nicolaus boosted their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their price target on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, January 17th. BNP Paribas started coverage on shares of Royal Caribbean Cruises in a research note on Thursday, March 27th. They issued an “outperform” rating and a $262.00 price objective on the stock. Barclays increased their target price on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group decreased their price target on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $279.58.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction on 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 in the company, valued at $37,514,907.30. This represents a 28.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the completion of the sale, the director now directly owns 185,021 shares of the company’s stock, valued at approximately $47,491,190.28. The trade was a 9.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock worth $28,571,705 over the last 90 days. 7.95% of the stock is currently owned by corporate insiders.

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.