1,657 Shares in Royal Caribbean Cruises Ltd. (NYSE:RCL) Bought by Summit Global Investments

Summit Global Investments bought a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,657 shares of the company’s stock, valued at approximately $382,000.

A number of other large investors have also added to or reduced their stakes in RCL. Kiker Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at about $1,749,000. HUB Investment Partners LLC grew its position in Royal Caribbean Cruises by 109.2% during the fourth quarter. HUB Investment Partners LLC now owns 3,077 shares of the company’s stock valued at $710,000 after acquiring an additional 1,606 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Royal Caribbean Cruises by 2.0% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 52,597 shares of the company’s stock worth $12,134,000 after acquiring an additional 1,042 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Royal Caribbean Cruises by 39.8% in the 4th quarter. Teacher Retirement System of Texas now owns 2,288 shares of the company’s stock worth $528,000 after acquiring an additional 651 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its stake in shares of Royal Caribbean Cruises by 196.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 6,042 shares of the company’s stock valued at $1,395,000 after purchasing an additional 4,006 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Transactions at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises 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 completion of the sale, the insider now owns 21,155 shares of the company’s stock, valued at $5,539,648.30. The trade was a 41.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total value of $15,193,100.00. Following the completion of the transaction, the chief executive officer now directly owns 143,214 shares in the company, valued at approximately $37,514,907.30. This represents a 28.83 % 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 three months. 7.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on RCL. Wells Fargo & Company boosted their price target on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Tigress Financial boosted their target price on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Loop Capital upgraded 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. Barclays upped their price target on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Mizuho reiterated an “outperform” rating and issued a $253.00 price objective (down previously from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to 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 4.8 %

NYSE:RCL opened at $225.83 on Tuesday. The stock has a market cap of $60.78 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 0.90 and a beta of 2.53. 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’s 50 day moving average price is $239.97 and its 200-day moving average price is $222.52. Royal Caribbean Cruises Ltd. has a 52 week low of $125.06 and a 52 week high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the business posted $1.25 earnings per share. On average, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

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

Royal Caribbean Cruises Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 28.06%.

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.