Navellier & Associates Inc. boosted its position in Royal Caribbean Cruises Ltd. (NYSE:RCL – Free Report) by 0.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,296 shares of the company’s stock after buying an additional 81 shares during the period. Royal Caribbean Cruises makes up 1.7% of Navellier & Associates Inc.’s holdings, making the stock its 9th biggest holding. Navellier & Associates Inc.’s holdings in Royal Caribbean Cruises were worth $14,140,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. Ipswich Investment Management Co. Inc. boosted its position in shares of Royal Caribbean Cruises by 2.6% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 2,259 shares of the company’s stock valued at $521,000 after purchasing an additional 58 shares in the last quarter. Cassaday & Co Wealth Management LLC lifted its stake in Royal Caribbean Cruises by 8.8% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 2,928 shares of the company’s stock valued at $676,000 after buying an additional 236 shares during the period. ING Groep NV bought a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $2,782,000. Concurrent Investment Advisors LLC grew its position in shares of Royal Caribbean Cruises by 1.8% during the 4th quarter. Concurrent Investment Advisors LLC now owns 4,102 shares of the company’s stock worth $946,000 after buying an additional 72 shares during the period. Finally, LMG Wealth Partners LLC grew its position in shares of Royal Caribbean Cruises by 28.1% during the 4th quarter. LMG Wealth Partners LLC now owns 1,521 shares of the company’s stock worth $351,000 after buying an additional 334 shares during the period. Institutional investors own 87.53% of the company’s stock.
Royal Caribbean Cruises Stock Performance
NYSE RCL opened at $234.16 on Friday. The company has a fifty day moving average price of $244.35 and a 200-day moving average price of $212.42. The firm has a market cap of $63.02 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 0.90 and a beta of 2.59. 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 $119.48 and a 1 year high of $277.08.
Royal Caribbean Cruises Increases Dividend
The firm also recently declared 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 represents a $3.00 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase 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 presently 20.58%.
Royal Caribbean Cruises announced 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 shares. This buyback authorization authorizes the company to buy up to 1.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Analyst Ratings Changes
Several research analysts recently issued reports on the stock. UBS Group increased their target price on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Macquarie increased their price objective on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 target price for the company. Citigroup upped their price target on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $284.12.
Read Our Latest Stock Report on RCL
Insider Buying and Selling
In other news, CEO Jason T. Liberty sold 58,000 shares of the firm’s stock in a transaction 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 directly owns 143,214 shares of the company’s stock, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Laura H. Bethge sold 14,992 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the completion of the transaction, the insider now directly owns 21,155 shares in the company, valued at $5,539,648.30. This trade represents a 41.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is owned by company insiders.
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.
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