Lake Street Advisors Group LLC Sells 110 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Lake Street Advisors Group LLC trimmed its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,926 shares of the company’s stock after selling 110 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Royal Caribbean Cruises were worth $677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Plato Investment Management Ltd purchased a new stake in Royal Caribbean Cruises in the third quarter worth about $26,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Royal Caribbean Cruises in the 3rd quarter worth approximately $27,000. LRI Investments LLC bought a new position in Royal Caribbean Cruises during the 3rd quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC purchased a new position in Royal Caribbean Cruises during the fourth quarter valued at $36,000. Finally, ORG Wealth Partners LLC purchased a new position in Royal Caribbean Cruises during the fourth quarter valued at $40,000. 87.53% of the stock is currently owned by institutional investors.

Insider Activity at Royal Caribbean Cruises

In other news, CEO Jason T. Liberty sold 58,000 shares of the firm’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 transaction, the chief executive officer now owns 143,214 shares in the company, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Naftali Holtz sold 17,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total value of $4,447,540.00. Following the completion of the sale, the chief financial officer now owns 42,127 shares in the company, valued at $11,021,265.74. This represents a 28.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,492 shares of company stock valued at $28,571,705. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Stock Down 2.5 %

RCL opened at $238.01 on Friday. The stock has a market cap of $64.06 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 0.90 and a beta of 2.59. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The firm’s fifty day moving average is $244.59 and its 200 day moving average is $214.84. Royal Caribbean Cruises Ltd. has a fifty-two week low of $121.18 and a fifty-two week high of $277.08.

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 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 period last year, the business earned $1.25 earnings per share. On average, sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

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 outstanding shares. This buyback authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be given a dividend of $0.75 per share. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.26%. Royal Caribbean Cruises’s dividend payout ratio is currently 28.06%.

Wall Street Analysts Forecast Growth

RCL has been the subject of several analyst reports. Macquarie raised their price target on Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. UBS Group lifted their target price 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. Stifel Nicolaus increased their price target on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a report on Friday, December 6th. Truist Financial upped their price objective on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Susquehanna lifted their target price on Royal Caribbean Cruises from $245.00 to $305.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average price target of $284.12.

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.