Nomura Asset Management Co. Ltd. Raises Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Nomura Asset Management Co. Ltd. raised its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 22.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 198,354 shares of the company’s stock after acquiring an additional 36,519 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Royal Caribbean Cruises were worth $45,758,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Royal Caribbean Cruises by 2.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company’s stock worth $470,000 after purchasing an additional 39 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Royal Caribbean Cruises by 1.6% in the 4th quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company’s stock worth $630,000 after buying an additional 42 shares in the last quarter. Hemington Wealth Management increased its holdings in shares of Royal Caribbean Cruises by 9.0% in the 4th quarter. Hemington Wealth Management now owns 533 shares of the company’s stock worth $123,000 after buying an additional 44 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Royal Caribbean Cruises by 3.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company’s stock valued at $313,000 after buying an additional 47 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of Royal Caribbean Cruises by 2.2% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company’s stock worth $544,000 after acquiring an additional 50 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total value of $15,193,100.00. Following the completion of the transaction, the chief executive officer now owns 143,214 shares of the company’s stock, valued at approximately $37,514,907.30. This represents a 28.83 % decrease in their position. The sale was disclosed in a legal filing 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 that occurred on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the sale, the director now owns 185,021 shares in the company, valued at $47,491,190.28. This represents a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,492 shares of company stock valued at $28,571,705. Corporate insiders own 7.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RCL. Tigress Financial raised their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Truist Financial raised their price objective on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Loop Capital raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a research note on Wednesday, March 5th. The Goldman Sachs Group decreased their price target on shares of 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. Finally, Citigroup increased their target price on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $282.33.

Royal Caribbean Cruises Stock Down 4.6 %

Shares of NYSE:RCL opened at $207.35 on Friday. The stock’s 50-day moving average is $238.63 and its 200 day moving average is $223.27. The company has a market cap of $55.80 billion, a PE ratio of 19.40, 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 Ltd. has a 1 year low of $125.06 and a 1 year high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the firm earned $1.25 EPS. Sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

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

Royal Caribbean Cruises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, March 7th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 28.06%.

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.