Avidian Wealth Enterprises LLC Purchases 56 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Avidian Wealth Enterprises LLC raised its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,928 shares of the company’s stock after purchasing an additional 56 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Royal Caribbean Cruises were worth $445,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Kentucky Trust Co bought a new stake in Royal Caribbean Cruises in the 4th quarter valued at $150,000. Hartford Investment Management Co. boosted its holdings in Royal Caribbean Cruises by 2.2% in the 4th quarter. Hartford Investment Management Co. now owns 15,337 shares of the company’s stock valued at $3,538,000 after purchasing an additional 331 shares during the period. Capital Advisors Inc. OK bought a new stake in Royal Caribbean Cruises in the 4th quarter valued at $217,000. Certuity LLC bought a new stake in Royal Caribbean Cruises in the 4th quarter valued at $272,000. Finally, Quent Capital LLC boosted its holdings in Royal Caribbean Cruises by 40.2% in the 4th quarter. Quent Capital LLC now owns 237 shares of the company’s stock valued at $55,000 after purchasing an additional 68 shares during the period. 87.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RCL. Stifel Nicolaus increased their price target on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a report on Friday, December 6th. Macquarie increased their price objective on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price objective for the company. Truist Financial increased their price objective on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Tigress Financial increased their price objective on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and a consensus target price of $284.12.

Royal Caribbean Cruises Trading Up 1.6 %

Shares of NYSE RCL opened at $260.37 on Friday. Royal Caribbean Cruises Ltd. has a 1-year low of $113.10 and a 1-year high of $277.08. The company has a market cap of $70.01 billion, a PE ratio of 24.36, a P/E/G ratio of 1.00 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 has a 50-day moving average of $243.28 and a two-hundred day moving average of $207.65.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share 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 firm earned $1.25 earnings per share. As a group, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.96 earnings per share for the current fiscal year.

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 given a dividend of $0.75 per share. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.15%. Royal Caribbean Cruises’s payout ratio is currently 20.58%.

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

Insider Transactions at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the sale, the executive vice president now owns 22,348 shares in the company, valued at $5,243,287.76. The trade was a 12.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the sale, the director now owns 18,556,860 shares of the company’s stock, valued at approximately $4,335,253,633.20. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 372,609 shares of company stock worth $87,647,208 in the last quarter. 7.95% of the stock is owned by company insiders.

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.