Capital Group Investment Management PTE. LTD. Buys 3,849 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Capital Group Investment Management PTE. LTD. boosted its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 13.0% during the 4th quarter, HoldingsChannel reports. The fund owned 33,376 shares of the company’s stock after buying an additional 3,849 shares during the quarter. Royal Caribbean Cruises makes up approximately 1.5% of Capital Group Investment Management PTE. LTD.’s investment portfolio, making the stock its 15th biggest holding. Capital Group Investment Management PTE. LTD.’s holdings in Royal Caribbean Cruises were worth $7,700,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RCL. Brown Brothers Harriman & Co. increased its stake in Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock valued at $27,000 after acquiring an additional 99 shares during the period. Bay Harbor Wealth Management LLC bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at approximately $36,000. Truvestments Capital LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $36,000. ORG Wealth Partners LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $40,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its stake in Royal Caribbean Cruises by 100.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company’s stock valued at $46,000 after buying an additional 100 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Trading Up 0.4 %

Shares of NYSE RCL opened at $192.52 on Friday. The company’s 50 day simple moving average is $218.83 and its 200 day simple moving average is $225.35. 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 fifty-two week low of $127.10 and a fifty-two week high of $277.08. The firm has a market capitalization of $51.81 billion, a P/E ratio of 18.01, a P/E/G ratio of 0.90 and a beta of 2.26.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates 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 earnings per share. On average, analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises declared that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 7th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.56%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s payout ratio is currently 28.06%.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CFO Naftali Holtz sold 17,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total value of $4,447,540.00. Following the completion of the sale, the chief financial officer now directly owns 42,127 shares in the company, valued at $11,021,265.74. This represents a 28.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction dated 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 transaction, the director now owns 185,021 shares in the company, valued at $47,491,190.28. This trade represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,492 shares of company stock valued at $28,571,705. Corporate insiders own 7.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RCL. Tigress Financial lifted their price objective on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a report on Friday, February 7th. BNP Paribas started coverage on shares of Royal Caribbean Cruises in a research note on Thursday, March 27th. They set an “outperform” rating and a $262.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Royal Caribbean Cruises in a research note on Monday, March 31st. They issued a “hold” rating and a $230.00 target price for the company. The Goldman Sachs Group decreased their price target on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Finally, Morgan Stanley cut their price objective on Royal Caribbean Cruises from $270.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average price target of $276.95.

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.