Truist Financial Corp Buys 2,611 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Truist Financial Corp raised its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 11.1% during the 4th quarter, Holdings Channel reports. The fund owned 26,235 shares of the company’s stock after acquiring an additional 2,611 shares during the period. Truist Financial Corp’s holdings in Royal Caribbean Cruises were worth $6,052,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Plato Investment Management Ltd bought a new position in Royal Caribbean Cruises in the 3rd quarter valued at about $26,000. Safe Harbor Fiduciary LLC bought a new position in shares of Royal Caribbean Cruises during the third quarter worth approximately $27,000. LRI Investments LLC bought a new position in shares of Royal Caribbean Cruises during the third quarter worth approximately $31,000. Bay Harbor Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises during the fourth quarter worth approximately $36,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Royal Caribbean Cruises during the fourth quarter worth approximately $40,000. 87.53% of the stock is owned by institutional investors.

Insider Transactions at Royal Caribbean Cruises

In other news, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the transaction, the insider now owns 21,155 shares in the company, valued at approximately $5,539,648.30. The trade was a 41.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the transaction, the director now owns 185,021 shares in the company, valued at approximately $47,491,190.28. This trade represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,492 shares of company stock worth $28,571,705. Company insiders own 7.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. The Goldman Sachs Group lowered 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 report on Friday, January 24th. Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 target price on the stock. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Susquehanna raised their target price on shares of Royal Caribbean Cruises from $245.00 to $305.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Finally, Bank of America increased their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.12.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock opened at $234.16 on Friday. Royal Caribbean Cruises Ltd. has a fifty-two week low of $119.48 and a fifty-two week high of $277.08. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The firm has a market capitalization of $63.02 billion, a P/E ratio of 21.90, a P/E/G ratio of 0.90 and a beta of 2.59. The company’s 50 day moving average price is $244.35 and its two-hundred day moving average price is $212.86.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share 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 period last year, the company earned $1.25 EPS. On average, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

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

Royal Caribbean Cruises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.28%. 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 20.58%.

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.