WealthTrust Asset Management LLC Reduces Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

WealthTrust Asset Management LLC lowered its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,402 shares of the company’s stock after selling 805 shares during the period. Royal Caribbean Cruises makes up approximately 1.2% of WealthTrust Asset Management LLC’s investment portfolio, making the stock its 20th largest holding. WealthTrust Asset Management LLC’s holdings in Royal Caribbean Cruises were worth $1,708,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. National Pension Service lifted its holdings in Royal Caribbean Cruises by 138.9% in the fourth quarter. National Pension Service now owns 864,049 shares of the company’s stock valued at $199,327,000 after acquiring an additional 502,349 shares during the period. Proficio Capital Partners LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter valued at approximately $69,556,000. AustralianSuper Pty Ltd raised its stake in shares of Royal Caribbean Cruises by 2,042.8% during the 4th quarter. AustralianSuper Pty Ltd now owns 122,887 shares of the company’s stock worth $28,349,000 after buying an additional 117,152 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Royal Caribbean Cruises by 138.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company’s stock worth $28,703,000 after buying an additional 93,899 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth approximately $14,544,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,500 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the completion of the transaction, the director now directly owns 185,021 shares in the company, valued at approximately $47,491,190.28. This represents a 9.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jason T. Liberty sold 58,000 shares of the firm’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 transaction, the chief executive officer now owns 143,214 shares of the company’s stock, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Argus upped their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Mizuho reaffirmed an “outperform” rating and set a $253.00 target price (down from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. UBS Group upped their target price on Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Morgan Stanley upped their target price on Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group reduced their target price on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $283.53.

Royal Caribbean Cruises Stock Up 2.1 %

Shares of NYSE:RCL opened at $212.33 on Friday. 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 business has a fifty day moving average of $241.31 and a two-hundred day moving average of $219.88. The stock has a market cap of $57.14 billion, a P/E ratio of 19.86, a PEG ratio of 0.90 and a beta of 2.53. Royal Caribbean Cruises Ltd. has a 52-week low of $125.06 and a 52-week high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same period in the previous year, the company posted $1.25 earnings per share. On average, research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.41%. Royal Caribbean Cruises’s dividend payout ratio is currently 28.06%.

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.