Sovran Advisors LLC Makes New Investment in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Sovran Advisors LLC acquired a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,721 shares of the company’s stock, valued at approximately $395,000.

Other large investors have also recently bought and sold shares of the company. Plato Investment Management Ltd acquired a new position in Royal Caribbean Cruises during the third quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC bought a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after buying an additional 121 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Royal Caribbean Cruises during the 3rd quarter worth $31,000. Finally, Bay Harbor Wealth Management LLC acquired a new stake in Royal Caribbean Cruises in the fourth quarter valued at about $36,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on RCL. Loop Capital began coverage on Royal Caribbean Cruises in a research note on Tuesday, February 4th. They set a “hold” rating and a $250.00 target price for the company. Macquarie upped their price objective on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. UBS Group increased their price objective on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Barclays upped their price target on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Argus upped their price target on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus target price of $284.12.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $256.11 on Thursday. The company has a market capitalization of $68.86 billion, a PE ratio of 23.96, a P/E/G ratio of 1.00 and a beta of 2.59. The company has a 50 day simple moving average of $243.15 and a two-hundred day simple moving average of $207.31. 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 $113.10 and a fifty-two week high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates 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 company posted $1.25 EPS. Research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.96 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be given a $0.75 dividend. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a dividend yield of 1.17%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 20.58%.

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

Insider Transactions at Royal Caribbean Cruises

In related news, EVP Harri U. Kulovaara sold 3,256 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the transaction, the executive vice president now owns 22,348 shares in the company, valued at $5,243,287.76. The trade was a 12.72 % 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, Director Arne Alexander Wilhelmsen sold 139,353 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the transaction, the director now owns 18,167,507 shares in the company, valued at $4,321,868,240.23. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 372,609 shares of company stock valued at $87,647,208. 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.