Korea Investment CORP Sells 14,245 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Korea Investment CORP cut its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 10.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,513 shares of the company’s stock after selling 14,245 shares during the period. Korea Investment CORP’s holdings in Royal Caribbean Cruises were worth $27,570,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Royal Caribbean Cruises by 2.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company’s stock valued at $470,000 after purchasing an additional 39 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Royal Caribbean Cruises by 1.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company’s stock worth $630,000 after acquiring an additional 42 shares during the last quarter. Hemington Wealth Management increased its position in Royal Caribbean Cruises by 9.0% in the 4th quarter. Hemington Wealth Management now owns 533 shares of the company’s stock valued at $123,000 after acquiring an additional 44 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of Royal Caribbean Cruises by 3.6% during the fourth quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company’s stock valued at $313,000 after acquiring an additional 47 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of Royal Caribbean Cruises by 2.2% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company’s stock worth $544,000 after purchasing an additional 50 shares during the period. 87.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RCL. Mizuho restated an “outperform” rating and issued a $253.00 price objective (down from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Barclays raised their price objective on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Susquehanna reiterated a “positive” rating on shares of Royal Caribbean Cruises in a report on Tuesday. UBS Group raised their price target on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, Argus upped their price objective on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $282.33.

Royal Caribbean Cruises Stock Performance

NYSE RCL opened at $207.35 on Friday. The company has a market cap of $55.80 billion, a P/E ratio of 19.40, a PEG ratio of 0.90 and a beta of 2.53. The company has a fifty day simple moving average of $238.63 and a 200 day simple moving average of $223.27. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises Ltd. has a 12-month low of $125.06 and a 12-month high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (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 quarter in the previous year, the company earned $1.25 earnings per share. Sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, March 7th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 28.06%.

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

Insider Activity at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,500 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the transaction, the director now directly owns 185,021 shares of the company’s stock, 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 at this link. Also, CEO Jason T. Liberty sold 58,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the completion of the sale, the chief executive officer now directly owns 143,214 shares of the company’s stock, valued at $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,492 shares of company stock valued at $28,571,705 over the last 90 days. Insiders own 7.95% of the company’s stock.

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.