Oppenheimer & Co. Inc. Acquires 7,109 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Oppenheimer & Co. Inc. raised its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 41.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 24,121 shares of the company’s stock after purchasing an additional 7,109 shares during the period. Oppenheimer & Co. Inc.’s holdings in Royal Caribbean Cruises were worth $5,564,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Plato Investment Management Ltd bought a new stake in shares of Royal Caribbean Cruises during the third quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC purchased a new stake in Royal Caribbean Cruises in the third quarter worth approximately $27,000. Bay Harbor Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter worth $36,000. ORG Wealth Partners LLC purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter worth $40,000. Finally, LRI Investments LLC purchased a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth $31,000. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of RCL opened at $246.04 on Friday. The company has a 50 day moving average price of $244.74 and a 200-day moving average price of $215.48. Royal Caribbean Cruises Ltd. has a fifty-two week low of $121.58 and a fifty-two week high of $277.08. The stock has a market capitalization of $66.22 billion, a PE ratio of 23.02, a PEG ratio of 0.90 and a beta of 2.59. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping 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 quarter last year, the firm posted $1.25 earnings per share. Equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date 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 28.06%.

Royal Caribbean Cruises declared that its board has initiated a stock buyback plan 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 plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently commented on RCL shares. Tigress Financial raised their price objective on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Loop Capital assumed coverage on shares of Royal Caribbean Cruises in a report on Tuesday, February 4th. They issued a “hold” rating and a $250.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Citigroup lifted their price target on shares of 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, UBS Group lifted their price target 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. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.12.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CFO Naftali Holtz sold 17,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total value of $4,447,540.00. Following the sale, the chief financial officer now directly owns 42,127 shares of the company’s stock, valued at $11,021,265.74. This represents a 28.75 % decrease in their position. The transaction 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 the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the completion of the sale, the director now directly owns 185,021 shares in the company, valued at $47,491,190.28. This trade represents a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is owned by corporate insiders.

About Royal Caribbean Cruises

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.