Wealthfront Advisers LLC Buys 1,992 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Wealthfront Advisers LLC increased its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,214 shares of the company’s stock after purchasing an additional 1,992 shares during the period. Wealthfront Advisers LLC’s holdings in Royal Caribbean Cruises were worth $6,970,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Plato Investment Management Ltd bought a new position in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $26,000. Safe Harbor Fiduciary LLC bought a new stake in Royal Caribbean Cruises in the 3rd quarter valued at approximately $27,000. LRI Investments LLC bought a new stake in Royal Caribbean Cruises in the 3rd quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC bought a new stake in Royal Caribbean Cruises in the 4th quarter valued at approximately $36,000. Finally, ORG Wealth Partners LLC bought a new stake in Royal Caribbean Cruises in the 4th quarter valued at approximately $40,000. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Up 0.1 %

RCL stock opened at $207.34 on Thursday. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $55.80 billion, a PE ratio of 19.40, a PEG ratio of 0.90 and a beta of 2.53. Royal Caribbean Cruises Ltd. has a 1-year low of $125.06 and a 1-year high of $277.08. The business’s 50 day simple moving average is $242.06 and its 200 day simple moving average is $219.25.

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

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

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be issued a dividend of $0.75 per share. 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. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. Royal Caribbean Cruises’s payout ratio is presently 28.06%.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total value of $15,193,100.00. Following the transaction, the chief executive officer now directly owns 143,214 shares of the company’s stock, valued at $37,514,907.30. This represents a 28.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard D. Fain sold 19,500 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 185,021 shares in the company, valued at approximately $47,491,190.28. This represents a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,492 shares of company stock valued at $28,571,705. 7.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RCL has been the topic of several research reports. 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. Barclays boosted their target price on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. boosted their target price on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Argus boosted their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Bank of America boosted their target price on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Three investment 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.53.

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.