Andra AP fonden Sells 52,800 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Andra AP fonden cut its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 58.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,800 shares of the company’s stock after selling 52,800 shares during the quarter. Andra AP fonden’s holdings in Royal Caribbean Cruises were worth $8,720,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. 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 stake in Royal Caribbean Cruises in the 3rd quarter valued at $27,000. LRI Investments LLC bought a new position in shares of Royal Caribbean Cruises in the third quarter valued at about $31,000. Bay Harbor Wealth Management LLC acquired a new stake in Royal Caribbean Cruises during the fourth quarter worth approximately $36,000. Finally, ORG Wealth Partners LLC acquired a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $40,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock opened at $213.59 on Friday. The stock’s 50 day moving average is $243.51 and its 200 day moving average is $218.26. Royal Caribbean Cruises Ltd. has a one year low of $125.06 and a one year high of $277.08. The firm has a market cap of $57.48 billion, a P/E ratio of 19.98, a P/E/G ratio of 0.90 and a beta of 2.53. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15.

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 net margin of 17.46% and a return on equity of 48.97%. During the same period in the prior year, the company posted $1.25 EPS. As a group, research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.40%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio is 28.06%.

Royal Caribbean Cruises declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective 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. Loop Capital upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Wednesday. Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price objective for the company. The Goldman Sachs Group cut their target price on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Finally, Mizuho reiterated an “outperform” rating and set a $253.00 price target (down from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and an average price target of $283.53.

Insiders Place Their Bets

In related news, CEO Jason T. Liberty sold 58,000 shares of the firm’s stock in a transaction that occurred on 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 owns 143,214 shares of the company’s stock, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the sale, the insider now owns 21,155 shares of the company’s stock, valued at approximately $5,539,648.30. The trade was a 41.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 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.