Gulf International Bank UK Ltd Sells 191 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Gulf International Bank UK Ltd decreased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 18,728 shares of the company’s stock after selling 191 shares during the period. Gulf International Bank UK Ltd’s holdings in Royal Caribbean Cruises were worth $4,320,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Plato Investment Management Ltd acquired a new stake in shares of Royal Caribbean Cruises in the third quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC acquired a new stake in Royal Caribbean Cruises in the 3rd quarter valued at $27,000. Bay Harbor Wealth Management LLC bought a new stake in Royal Caribbean Cruises during the 4th quarter worth about $36,000. ORG Wealth Partners LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter worth about $40,000. Finally, LRI Investments LLC bought a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock opened at $238.01 on Friday. The company has a market capitalization of $64.06 billion, a price-to-earnings ratio of 22.26, 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. Royal Caribbean Cruises Ltd. has a 12 month low of $121.18 and a 12 month high of $277.08. The stock’s 50 day moving average is $244.59 and its 200-day moving average is $214.84.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly 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 prior year, the firm posted $1.25 earnings per share. Equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises declared that its Board of Directors has approved a share 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 buy up to 1.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.26%. This is a positive change 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 (DPR) is currently 28.06%.

Insiders Place Their Bets

In related news, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 143,214 shares of the company’s stock, valued at $37,514,907.30. This represents a 28.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Laura H. Bethge sold 14,992 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total value of $3,925,805.12. Following the transaction, the insider now owns 21,155 shares in the company, valued at approximately $5,539,648.30. This trade represents a 41.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,492 shares of company stock worth $28,571,705 in the last quarter. 7.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Bank of America upped their target price on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Citigroup upped their price objective on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. UBS Group raised their target price on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Loop Capital assumed coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, February 4th. They set a “hold” rating and a $250.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and an average price target of $284.12.

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.