Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $12.13 Million Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 52,597 shares of the company’s stock after buying an additional 1,042 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Royal Caribbean Cruises were worth $12,134,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Safe Harbor Fiduciary LLC purchased a new stake in Royal Caribbean Cruises in the 3rd quarter valued at $27,000. Bay Harbor Wealth Management LLC purchased a new stake in Royal Caribbean Cruises in the 4th quarter valued at $36,000. Truvestments Capital LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $36,000. ORG Wealth Partners LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $40,000. Finally, LRI Investments LLC purchased a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at $31,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Truist Financial raised their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Argus raised their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Morgan Stanley raised their target price on Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Macquarie raised their target price on Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Susquehanna decreased their target price on Royal Caribbean Cruises from $305.00 to $295.00 and set a “positive” rating for the company in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $283.53.

Royal Caribbean Cruises Stock Up 0.5 %

Shares of NYSE RCL opened at $215.76 on Friday. Royal Caribbean Cruises Ltd. has a 52 week low of $125.06 and a 52 week high of $277.08. The business has a 50-day simple moving average of $240.00 and a two-hundred day simple moving average of $221.17. 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 company has a market cap of $58.07 billion, a P/E ratio of 20.18, a P/E/G ratio of 0.90 and a beta of 2.53.

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

Royal Caribbean Cruises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be paid a $0.75 dividend. The ex-dividend date is Friday, March 7th. This represents a $3.00 annualized dividend and a yield of 1.39%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 28.06%.

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

Insider Activity

In other news, CEO Jason T. Liberty sold 58,000 shares of Royal Caribbean Cruises 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 sale, the chief executive officer now owns 143,214 shares in the company, valued at approximately $37,514,907.30. This trade represents a 28.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the sale, the director now owns 185,021 shares of the company’s stock, valued at approximately $47,491,190.28. This trade represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is currently owned by insiders.

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.