Synergy Investment Management LLC Invests $69,000 in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Synergy Investment Management LLC bought a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 300 shares of the company’s stock, valued at approximately $69,000.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in shares of Royal Caribbean Cruises by 85.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,688 shares of the company’s stock worth $477,000 after buying an additional 1,238 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Royal Caribbean Cruises in the 3rd quarter worth about $182,000. Van ECK Associates Corp boosted its holdings in shares of Royal Caribbean Cruises by 48.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,283 shares of the company’s stock worth $405,000 after buying an additional 740 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Royal Caribbean Cruises by 0.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 126,569 shares of the company’s stock worth $22,448,000 after buying an additional 1,094 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Royal Caribbean Cruises by 7.7% in the 3rd quarter. QRG Capital Management Inc. now owns 41,569 shares of the company’s stock worth $7,373,000 after buying an additional 2,956 shares during the last quarter. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Trading Down 6.0 %

Shares of Royal Caribbean Cruises stock opened at $226.67 on Wednesday. Royal Caribbean Cruises Ltd. has a 12-month low of $124.24 and a 12-month high of $277.08. The company has a market cap of $61.00 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 0.90 and a beta of 2.59. 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’s 50-day moving average price is $244.53 and its 200-day moving average price is $217.40.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same period in the prior year, the business earned $1.25 EPS. On average, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.32%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises’s dividend payout ratio is 28.06%.

Royal Caribbean Cruises declared that its board has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Susquehanna boosted their price target on shares of Royal Caribbean Cruises from $245.00 to $305.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Argus boosted their price target on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Bank of America upped their price objective on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Finally, Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.12.

Insider Buying and Selling

In related news, insider Laura H. Bethge sold 14,992 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total value of $3,925,805.12. Following the transaction, the insider now directly owns 21,155 shares in the company, valued at approximately $5,539,648.30. This represents a 41.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Naftali Holtz sold 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the completion of the transaction, the chief financial officer now owns 42,127 shares in the company, valued at approximately $11,021,265.74. This trade represents a 28.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,492 shares of company stock worth $28,571,705. Insiders own 7.95% of the company’s stock.

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.