DnB Asset Management AS Boosts Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

DnB Asset Management AS raised its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,690 shares of the company’s stock after buying an additional 2,608 shares during the period. DnB Asset Management AS’s holdings in Royal Caribbean Cruises were worth $10,079,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in Royal Caribbean Cruises in the fourth quarter worth about $707,833,000. Vanguard Group Inc. boosted its position in Royal Caribbean Cruises by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company’s stock valued at $6,476,003,000 after purchasing an additional 2,068,114 shares in the last quarter. National Pension Service grew its stake in Royal Caribbean Cruises by 138.9% in the fourth quarter. National Pension Service now owns 864,049 shares of the company’s stock valued at $199,327,000 after purchasing an additional 502,349 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Royal Caribbean Cruises in the fourth quarter worth about $69,556,000. Finally, AustralianSuper Pty Ltd lifted its position in shares of Royal Caribbean Cruises by 2,042.8% during the fourth quarter. AustralianSuper Pty Ltd now owns 122,887 shares of the company’s stock valued at $28,349,000 after buying an additional 117,152 shares during the last quarter. Institutional investors own 87.53% of the company’s stock.

Analysts Set New Price Targets

RCL has been the subject of several recent analyst reports. Barclays boosted their price objective 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. Wells Fargo & Company increased their price objective on Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, January 27th. The Goldman Sachs Group dropped their target price on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Truist Financial increased their price target on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Susquehanna restated a “positive” rating on shares of Royal Caribbean Cruises in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $282.33.

Royal Caribbean Cruises Trading Down 4.6 %

RCL stock opened at $207.35 on Friday. Royal Caribbean Cruises Ltd. has a 52-week low of $125.06 and a 52-week high of $277.08. 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 firm 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’s 50-day simple moving average is $238.63 and its 200-day simple moving average is $223.72.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (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 quarter in the prior year, the company earned $1.25 EPS. As a group, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS 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. Investors of record on Friday, March 7th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.45%. 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. Royal Caribbean Cruises’s payout ratio is presently 28.06%.

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 buy up to 1.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Richard D. Fain sold 19,500 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 185,021 shares of the company’s stock, valued at approximately $47,491,190.28. This represents a 9.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $3,925,805.12. Following the sale, the insider now directly owns 21,155 shares in the company, valued at approximately $5,539,648.30. This trade represents a 41.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,492 shares of company stock worth $28,571,705. Company 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.