Pathstone Holdings LLC Decreases Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Pathstone Holdings LLC cut its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 4.8% during the fourth quarter, HoldingsChannel reports. The firm owned 40,501 shares of the company’s stock after selling 2,022 shares during the quarter. Pathstone Holdings LLC’s holdings in Royal Caribbean Cruises were worth $9,342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Mufg Securities Americas Inc. purchased a new stake in Royal Caribbean Cruises during the fourth quarter valued at approximately $842,000. Man Group plc grew its stake in shares of Royal Caribbean Cruises by 537.2% during the fourth quarter. Man Group plc now owns 84,105 shares of the company’s stock valued at $19,402,000 after buying an additional 70,905 shares during the last quarter. NorthRock Partners LLC bought a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $547,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Royal Caribbean Cruises by 16.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,750 shares of the company’s stock valued at $5,940,000 after buying an additional 3,610 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $64,394,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the company’s stock in a transaction on 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 $5,539,648.30. This represents a 41.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Naftali Holtz sold 17,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total value of $4,447,540.00. Following the sale, the chief financial officer now owns 42,127 shares of the company’s stock, valued at approximately $11,021,265.74. This represents a 28.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,992 shares of company stock worth $23,566,445 over the last 90 days. Company insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Stock Up 2.2%

Royal Caribbean Cruises stock opened at $255.62 on Friday. The business has a fifty day moving average of $212.05 and a two-hundred day moving average of $229.75. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The firm has a market cap of $69.42 billion, a P/E ratio of 23.91, a P/E/G ratio of 0.90 and a beta of 2.12. Royal Caribbean Cruises Ltd. has a twelve month low of $130.08 and a twelve month high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last posted its 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 analyst estimates of $4.02 billion. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. Royal Caribbean Cruises’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 earnings per share. On average, analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

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

Royal Caribbean Cruises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.17%. Royal Caribbean Cruises’s dividend payout ratio is currently 24.92%.

Analysts Set New Price Targets

A number of research firms have recently commented on RCL. Susquehanna cut their target price on Royal Caribbean Cruises from $295.00 to $275.00 and set a “positive” rating on the stock in a research note on Wednesday, April 30th. UBS Group upped their target price on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Stifel Nicolaus cut their target price on Royal Caribbean Cruises from $310.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Mizuho reaffirmed an “outperform” rating and set a $253.00 target price (down previously from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. Finally, Loop Capital raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Wednesday, March 5th. Four equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $271.30.

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.