State of Tennessee Department of Treasury Cuts Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

State of Tennessee Department of Treasury lessened its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.9% in the fourth quarter, Holdings Channel reports. The firm owned 134,460 shares of the company’s stock after selling 2,634 shares during the period. State of Tennessee Department of Treasury’s holdings in Royal Caribbean Cruises were worth $31,019,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC increased its position in shares of Royal Caribbean Cruises by 2.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company’s stock worth $470,000 after acquiring an additional 39 shares in the last quarter. Ostrum Asset Management lifted its position in shares of Royal Caribbean Cruises by 0.3% during the fourth quarter. Ostrum Asset Management now owns 11,610 shares of the company’s stock worth $2,678,000 after purchasing an additional 40 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Royal Caribbean Cruises by 1.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company’s stock worth $630,000 after buying an additional 42 shares during the last quarter. Hemington Wealth Management boosted its holdings in Royal Caribbean Cruises by 9.0% in the fourth quarter. Hemington Wealth Management now owns 533 shares of the company’s stock worth $123,000 after purchasing an additional 44 shares during the period. Finally, Verdence Capital Advisors LLC increased its stake in Royal Caribbean Cruises by 3.6% during the fourth quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company’s stock valued at $313,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the business’s 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 sale, the insider now owns 21,155 shares in the company, valued at approximately $5,539,648.30. The trade was a 41.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the completion of the transaction, the chief executive officer now owns 143,214 shares of the company’s stock, valued at approximately $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,492 shares of company stock valued at $28,571,705. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Trading Down 1.4 %

Shares of Royal Caribbean Cruises stock opened at $190.00 on Tuesday. The business has a fifty day simple moving average of $216.22 and a 200-day simple moving average of $226.27. The firm has a market cap of $51.13 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 0.90 and a beta of 2.26. Royal Caribbean Cruises Ltd. has a fifty-two week low of $129.54 and a fifty-two week high of $277.08. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating 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 posted $1.25 earnings per share. On average, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

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

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 7th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.58%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, March 7th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 28.06%.

Wall Street Analysts Forecast Growth

RCL has been the subject of several research reports. Mizuho reaffirmed an “outperform” rating and issued a $253.00 price target (down from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Macquarie raised their price target on Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Barclays upped their price objective on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Tigress Financial upped their price target on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, BNP Paribas began coverage on shares of Royal Caribbean Cruises in a research report on Thursday, March 27th. They issued an “outperform” rating and a $262.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $276.95.

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.