EP Wealth Advisors LLC Increases Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

EP Wealth Advisors LLC lifted its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 20.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,983 shares of the company’s stock after acquiring an additional 343 shares during the period. EP Wealth Advisors LLC’s holdings in Royal Caribbean Cruises were worth $458,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. grew its position in shares of Royal Caribbean Cruises by 618.8% during the fourth 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. Bay Harbor Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter worth approximately $36,000. Truvestments Capital LLC purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter worth approximately $36,000. Atlantic Edge Private Wealth Management LLC grew its position in shares of Royal Caribbean Cruises by 100.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company’s stock worth $46,000 after acquiring an additional 100 shares during the last quarter. Finally, Decker Retirement Planning Inc. purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter worth approximately $50,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RCL. Wells Fargo & Company raised their target price on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Jefferies Financial Group assumed coverage on Royal Caribbean Cruises in a report on Monday, March 31st. They set a “hold” rating and a $230.00 price target for the company. Barclays increased their price target on Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Macquarie decreased their price target on Royal Caribbean Cruises from $300.00 to $265.00 and set an “outperform” rating for the company in a report on Friday. Finally, The Goldman Sachs Group decreased their price target on Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average target price of $271.30.

Insider Transactions at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total transaction 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 trade represents a 41.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jason T. Liberty sold 58,000 shares of Royal Caribbean Cruises 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 sale, the chief executive officer now owns 143,214 shares of the company’s stock, valued at approximately $37,514,907.30. This represents a 28.83% 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 in the last 90 days. 7.95% of the stock is currently owned by insiders.

Royal Caribbean Cruises Trading Up 0.4%

NYSE:RCL opened at $233.69 on Monday. The company has a market capitalization of $63.46 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 0.90 and a beta of 2.12. 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 52-week low of $130.08 and a 52-week high of $277.08. The stock has a fifty day simple moving average of $208.59 and a 200-day simple moving average of $228.54.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.18. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.77 EPS. On average, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.28%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 24.92%.

Royal Caribbean Cruises announced that its board has approved a share 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 management believes its stock is undervalued.

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.