Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Newbrook Capital Advisors LP

Newbrook Capital Advisors LP lessened its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 38.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,725 shares of the company’s stock after selling 91,365 shares during the period. Royal Caribbean Cruises accounts for 4.3% of Newbrook Capital Advisors LP’s portfolio, making the stock its 10th largest holding. Newbrook Capital Advisors LP owned about 0.05% of Royal Caribbean Cruises worth $33,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Czech National Bank grew its stake in Royal Caribbean Cruises by 11.2% in 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 during the period. Wedmont Private Capital boosted its stake in shares of Royal Caribbean Cruises by 5.4% during the 4th quarter. Wedmont Private Capital now owns 6,998 shares of the company’s stock worth $1,588,000 after acquiring an additional 358 shares during the period. Cooper Financial Group bought a new position in Royal Caribbean Cruises in the 4th quarter valued at about $277,000. Claro Advisors LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter valued at $337,000. Finally, BCS Wealth Management acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $227,000. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

Shares of RCL opened at $247.70 on Wednesday. Royal Caribbean Cruises Ltd. has a 12 month low of $130.08 and a 12 month high of $277.08. The stock has a fifty day moving average price of $209.46 and a 200-day moving average price of $228.96. 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 firm has a market cap of $67.27 billion, a PE ratio of 23.17, a P/E/G ratio of 0.90 and a beta of 2.12.

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

Royal Caribbean Cruises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.21%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 24.92%.

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

Analyst Ratings Changes

RCL has been the topic of a number of research analyst reports. Northcoast Research began coverage on shares of Royal Caribbean Cruises in a research note on Friday, April 25th. They issued a “buy” rating and a $279.00 price target on the stock. BNP Paribas assumed coverage on shares of Royal Caribbean Cruises in a research report on Thursday, March 27th. They issued an “outperform” rating and a $262.00 target price on the stock. Argus raised their price objective on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Stifel Nicolaus lowered their target price on Royal Caribbean Cruises from $310.00 to $265.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group reduced their price target on Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $271.30.

Insider Activity

In related news, CEO Jason T. Liberty sold 58,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total value of $15,193,100.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction, the insider now directly owns 21,155 shares in the company, valued at $5,539,648.30. This trade represents a 41.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,492 shares of company stock worth $28,571,705 over the last quarter. 7.95% of the stock is currently owned by corporate 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.