Corient Private Wealth LLC Sells 31,822 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Corient Private Wealth LLC reduced its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 40.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,691 shares of the company’s stock after selling 31,822 shares during the quarter. Corient Private Wealth LLC’s holdings in Royal Caribbean Cruises were worth $11,002,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC lifted its position in shares of Royal Caribbean Cruises by 2.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company’s stock valued at $470,000 after acquiring an additional 39 shares during the period. Farther Finance Advisors LLC raised its holdings in Royal Caribbean Cruises by 1.6% during the fourth 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 raised its holdings in Royal Caribbean Cruises by 9.0% during the fourth quarter. Hemington Wealth Management now owns 533 shares of the company’s stock worth $123,000 after buying an additional 44 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings 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 worth $313,000 after buying an additional 47 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its holdings in Royal Caribbean Cruises by 2.2% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company’s stock worth $544,000 after buying an additional 50 shares during the last quarter. 87.53% of the stock is owned by institutional investors.

Royal Caribbean Cruises Price Performance

RCL opened at $215.26 on Thursday. The firm has a market cap of $57.93 billion, a P/E ratio of 20.14, a PEG ratio of 0.90 and a beta of 2.53. The firm has a 50-day moving average of $240.46 and a 200 day moving average of $220.86. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. Royal Caribbean Cruises Ltd. has a fifty-two week low of $125.06 and a fifty-two week high of $277.08.

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

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

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders 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 1.39%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 28.06%.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the completion of the transaction, the insider now owns 21,155 shares in the company, valued at $5,539,648.30. This trade represents a 41.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard D. Fain sold 19,500 shares of the stock in a transaction dated 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 transaction, the director now owns 185,021 shares of the company’s stock, valued at $47,491,190.28. This represents a 9.53 % 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 over the last quarter. 7.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Loop Capital upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a report on Wednesday, March 5th. The Goldman Sachs Group lowered their price objective on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, January 24th. UBS Group upped their price objective on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Tigress Financial upped their price objective on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Stifel Nicolaus increased their target price 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. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $283.53.

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.