Royal Caribbean Cruises Ltd. (NYSE:RCL) Position Reduced by Harbour Investments Inc.

Harbour Investments Inc. decreased its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 14.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 860 shares of the company’s stock after selling 150 shares during the period. Harbour Investments Inc.’s holdings in Royal Caribbean Cruises were worth $198,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Safe Harbor Fiduciary LLC bought a new stake in Royal Caribbean Cruises during the third quarter worth approximately $27,000. LRI Investments LLC acquired a new position in Royal Caribbean Cruises in the third quarter worth approximately $31,000. Bay Harbor Wealth Management LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter worth approximately $36,000. Truvestments Capital LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter worth approximately $36,000. Finally, ORG Wealth Partners LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter worth approximately $40,000. Institutional investors own 87.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on RCL shares. Truist Financial lifted their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Loop Capital upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a research report on Wednesday, March 5th. Mizuho reiterated an “outperform” rating and set a $253.00 price objective (down from $255.00) on shares of Royal Caribbean Cruises in a research report on Thursday, January 23rd. Argus lifted their price objective on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Finally, UBS Group lifted their price objective on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus target price of $283.53.

Royal Caribbean Cruises Trading Up 0.5 %

Shares of NYSE:RCL opened at $215.76 on Friday. The firm has a fifty day moving average of $240.00 and a two-hundred day moving average of $221.60. The firm has a market capitalization of $58.07 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53. Royal Caribbean Cruises Ltd. has a 12-month low of $125.06 and a 12-month 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 released its quarterly earnings data 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 net margin of 17.46% and a return on equity of 48.97%. During the same period last year, the firm posted $1.25 earnings per share. On average, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend 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 payout ratio is presently 28.06%.

Royal Caribbean Cruises declared that its board has authorized a share buyback program on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 1.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were 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 $37,514,907.30. The trade was a 28.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laura H. Bethge sold 14,992 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 21,155 shares of the company’s stock, valued at approximately $5,539,648.30. This represents a 41.48 % 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 valued at $28,571,705. Insiders own 7.95% of the company’s stock.

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.