Savoir Faire Capital Management L.P. Sells 41,130 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Savoir Faire Capital Management L.P. decreased its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 84.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,840 shares of the company’s stock after selling 41,130 shares during the period. Savoir Faire Capital Management L.P.’s holdings in Royal Caribbean Cruises were worth $1,809,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RCL. Public Sector Pension Investment Board increased its position in shares of Royal Caribbean Cruises by 14.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 9,327 shares of the company’s stock worth $1,654,000 after purchasing an additional 1,200 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Royal Caribbean Cruises in the third quarter valued at $73,000. Atom Investors LP increased its holdings in Royal Caribbean Cruises by 28.7% during the third quarter. Atom Investors LP now owns 1,892 shares of the company’s stock worth $336,000 after buying an additional 422 shares during the last quarter. Benjamin Edwards Inc. raised its position in Royal Caribbean Cruises by 74.3% during the third quarter. Benjamin Edwards Inc. now owns 4,601 shares of the company’s stock worth $816,000 after acquiring an additional 1,962 shares in the last quarter. Finally, Hilltop Holdings Inc. acquired a new stake in Royal Caribbean Cruises in the third quarter valued at $388,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Insider Activity

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 185,021 shares in the company, valued at $47,491,190.28. The trade was a 9.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason T. Liberty sold 58,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 143,214 shares of the company’s stock, valued at $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Trading Down 11.3 %

Shares of RCL stock opened at $187.98 on Friday. The stock has a market cap of $50.59 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 0.90 and a beta of 2.26. Royal Caribbean Cruises Ltd. has a 1 year low of $125.06 and a 1 year high of $277.08. 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 stock has a 50 day simple moving average of $235.71 and a 200 day simple moving average of $224.38.

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

Royal Caribbean Cruises declared that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The company 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. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a dividend yield of 1.60%. Royal Caribbean Cruises’s payout ratio is presently 28.06%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RCL shares. Susquehanna restated a “positive” rating on shares of Royal Caribbean Cruises in a research note on Tuesday, March 25th. BNP Paribas started coverage on Royal Caribbean Cruises in a research note on Thursday, March 27th. They issued an “outperform” rating and a $262.00 price objective on the stock. Tigress Financial raised their price objective 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. Argus boosted their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, Stifel Nicolaus raised their price target on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a report on Friday, December 6th. Four 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, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average price target of $279.58.

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.