Leigh Baldwin & CO. LLC Purchases Shares of 279,135 Royal Caribbean Cruises Ltd. (NYSE:RCL)

Leigh Baldwin & CO. LLC acquired a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 279,135 shares of the company’s stock, valued at approximately $64,394,000. Leigh Baldwin & CO. LLC owned approximately 0.10% of Royal Caribbean Cruises at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brown Brothers Harriman & Co. increased its position in shares of Royal Caribbean Cruises by 618.8% in 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 in the last quarter. Bay Harbor Wealth Management LLC purchased a new position in Royal Caribbean Cruises in the fourth quarter valued at about $36,000. Truvestments Capital LLC acquired a new position in shares of Royal Caribbean Cruises during the fourth quarter worth about $36,000. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Royal Caribbean Cruises by 100.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company’s stock worth $46,000 after buying an additional 100 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Trading Up 0.4%

NYSE RCL opened at $233.69 on Monday. Royal Caribbean Cruises Ltd. has a 1-year low of $130.08 and a 1-year high of $277.08. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. 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 firm’s fifty day simple moving average is $208.59 and its 200-day simple moving average is $228.54.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.18. The company 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 quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $1.77 EPS. As a group, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.28%. Royal Caribbean Cruises’s payout ratio is presently 24.92%.

Royal Caribbean Cruises announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

RCL has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. The Goldman Sachs Group reduced their target price on Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Barclays lifted their price target on shares of Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Loop Capital upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a research note on Wednesday, March 5th. Finally, Melius Research upgraded shares of Royal Caribbean Cruises to a “strong-buy” rating in a research note on Monday, April 21st. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average price target of $271.30.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,500 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was 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 owns 185,021 shares of the company’s stock, valued at $47,491,190.28. This represents a 9.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 143,214 shares in the company, valued at $37,514,907.30. The trade was a 28.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock valued at $28,571,705 over the last three months. 7.95% of the stock is currently owned by insiders.

Royal Caribbean Cruises Company 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.