Royal Caribbean Cruises Ltd. (NYSE:RCL) Stock Holdings Increased by Investment Management Corp of Ontario

Investment Management Corp of Ontario lifted its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 96.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,914 shares of the company’s stock after purchasing an additional 7,796 shares during the quarter. Investment Management Corp of Ontario’s holdings in Royal Caribbean Cruises were worth $3,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RCL. Graypoint LLC raised its position in Royal Caribbean Cruises by 6.8% during the fourth quarter. Graypoint LLC now owns 1,463 shares of the company’s stock valued at $337,000 after acquiring an additional 93 shares in the last quarter. Czech National Bank raised its position in Royal Caribbean Cruises by 11.2% during the fourth quarter. Czech National Bank now owns 53,634 shares of the company’s stock valued at $12,373,000 after acquiring an additional 5,390 shares in the last quarter. Wedmont Private Capital raised its position in Royal Caribbean Cruises by 5.4% during the fourth quarter. Wedmont Private Capital now owns 6,998 shares of the company’s stock valued at $1,588,000 after acquiring an additional 358 shares in the last quarter. Cooper Financial Group bought a new position in Royal Caribbean Cruises during the fourth quarter valued at approximately $277,000. Finally, Claro Advisors LLC bought a new position in Royal Caribbean Cruises during the fourth quarter valued at approximately $337,000. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Up 0.4%

RCL opened at $233.69 on Monday. Royal Caribbean Cruises Ltd. has a fifty-two week low of $130.08 and a fifty-two week high of $277.08. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The firm’s fifty day moving average price is $208.59 and its two-hundred day moving average price is $228.54. The company has a market capitalization of $63.46 billion, a P/E ratio of 21.86, a P/E/G ratio of 0.90 and a beta of 2.12.

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. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the company earned $1.77 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. On average, analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises declared that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in 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 a sign that the company’s leadership believes its stock is undervalued.

Royal Caribbean Cruises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders 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 dividend payout ratio is presently 24.92%.

Insider Activity

In other news, Director Richard D. Fain sold 19,500 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the sale, the director now owns 185,021 shares in the company, valued at approximately $47,491,190.28. The trade was a 9.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jason T. Liberty sold 58,000 shares of the business’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 sale, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 109,492 shares of company stock worth $28,571,705. Corporate insiders own 7.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Tigress Financial lifted their price target on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Argus lifted their price target on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group dropped their price target on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Northcoast Research assumed coverage on shares of Royal Caribbean Cruises in a research report on Friday, April 25th. They issued a “buy” rating and a $279.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.30.

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.