Leigh Baldwin & CO. LLC Buys New Shares in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Leigh Baldwin & CO. LLC purchased 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 (SEC). The institutional investor purchased 1,210 shares of the company’s stock, valued at approximately $279,000.

Other hedge funds also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. boosted its holdings in Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock valued at $27,000 after purchasing an additional 99 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $35,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $36,000. Truvestments Capital LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $36,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Royal Caribbean Cruises by 100.0% during the 4th 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 in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Up 0.8%

Shares of NYSE RCL opened at $240.35 on Monday. The company has a 50 day simple moving average of $215.42 and a 200-day simple moving average of $231.15. The company has a market capitalization of $65.27 billion, a P/E ratio of 22.48, a P/E/G ratio of 0.90 and a beta of 2.12. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly 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. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.77 EPS. On average, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current 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 issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.25%. Royal Caribbean Cruises’s dividend payout ratio is currently 24.92%.

Royal Caribbean Cruises declared that its board has authorized a share buyback 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Melius Research raised shares of Royal Caribbean Cruises to a “strong-buy” rating in a research note on Monday, April 21st. Truist Financial increased their target price on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Stifel Nicolaus lowered their target price on shares of 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. Susquehanna lowered their target price on shares of 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. Finally, Loop Capital raised shares of 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 research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and an average price target of $271.95.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the completion of the sale, the director now owns 165,421 shares in the company, valued at $41,868,055.10. This trade represents a 10.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.95% of the company’s stock.

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.