Allworth Financial LP Buys 218 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Allworth Financial LP grew its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 6.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,861 shares of the company’s stock after acquiring an additional 218 shares during the period. Allworth Financial LP’s holdings in Royal Caribbean Cruises were worth $912,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in shares of Royal Caribbean Cruises by 10,599.0% in the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock valued at $72,696,000 after buying an additional 406,048 shares during the period. AustralianSuper Pty Ltd increased its position in Royal Caribbean Cruises by 2,042.8% in the 4th quarter. AustralianSuper Pty Ltd now owns 122,887 shares of the company’s stock valued at $28,349,000 after acquiring an additional 117,152 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Royal Caribbean Cruises by 138.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company’s stock valued at $28,703,000 after acquiring an additional 93,899 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Royal Caribbean Cruises during the third quarter worth $14,544,000. Finally, Dakota Wealth Management grew its stake in shares of Royal Caribbean Cruises by 3,935.2% in the third quarter. Dakota Wealth Management now owns 76,871 shares of the company’s stock worth $13,635,000 after purchasing an additional 74,966 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Trading Up 0.8 %

NYSE RCL opened at $263.97 on Thursday. Royal Caribbean Cruises Ltd. has a 52 week low of $113.10 and a 52 week high of $277.08. The business has a 50 day moving average price of $244.57 and a 200-day moving average price of $211.54. 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 $70.98 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 0.98 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping 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 in the prior year, the business earned $1.25 EPS. As a group, equities analysts expect 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 declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.14%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s payout ratio is 20.58%.

Royal Caribbean Cruises declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase 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 shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RCL. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group reduced their target price on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. raised their price target on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Loop Capital started coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, February 4th. They issued a “hold” rating and a $250.00 price objective on the stock. Finally, Barclays lifted their target price on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and an average price target of $284.12.

Insiders Place Their Bets

In other news, Director Richard D. Fain sold 19,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value of $5,005,260.00. Following the transaction, the director now owns 185,021 shares in the company, valued at $47,491,190.28. This trade represents a 9.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.95% of the company’s stock.

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.