HighTower Advisors LLC Sells 664 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

HighTower Advisors LLC decreased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,004 shares of the company’s stock after selling 664 shares during the period. HighTower Advisors LLC’s holdings in Royal Caribbean Cruises were worth $9,229,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. National Pension Service lifted 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 worth $199,327,000 after purchasing an additional 502,349 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter worth approximately $69,556,000. AustralianSuper Pty Ltd increased 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 worth $28,349,000 after acquiring an additional 117,152 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of Royal Caribbean Cruises by 138.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company’s stock worth $28,703,000 after acquiring an additional 93,899 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Royal Caribbean Cruises during the third quarter worth approximately $14,544,000. Institutional investors own 87.53% of the company’s stock.

Insider Transactions at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 58,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the sale, the chief executive officer now directly owns 143,214 shares of the company’s stock, valued at $37,514,907.30. This represents a 28.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 19,500 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 185,021 shares in the company, valued at approximately $47,491,190.28. The trade was a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is currently owned by insiders.

Royal Caribbean Cruises Stock Up 3.6 %

Shares of NYSE RCL opened at $219.71 on Tuesday. Royal Caribbean Cruises Ltd. has a 12-month low of $125.06 and a 12-month high of $277.08. The stock has a market cap of $59.13 billion, a PE ratio of 20.55, a P/E/G ratio of 0.90 and a beta of 2.53. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The company has a 50-day moving average of $241.13 and a 200 day moving average of $220.62.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate 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 business posted $1.25 EPS. As a group, sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.37%. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises’s payout ratio is presently 28.06%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Argus lifted their price objective on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Tigress Financial lifted their price objective on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Loop Capital upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a research note on Wednesday, March 5th. Truist Financial boosted their target price on shares of 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, Barclays boosted their target price on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $283.53.

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.