Capital Research Global Investors Sells 2,278,129 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Capital Research Global Investors lowered its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 7.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,233,528 shares of the company’s stock after selling 2,278,129 shares during the quarter. Royal Caribbean Cruises comprises approximately 1.3% of Capital Research Global Investors’ holdings, making the stock its 16th largest holding. Capital Research Global Investors owned 10.50% of Royal Caribbean Cruises worth $6,513,201,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. lifted its position in Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares during the period. Bay Harbor Wealth Management LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter worth about $36,000. Truvestments Capital LLC bought a new position in Royal Caribbean Cruises during the fourth quarter worth about $36,000. ORG Wealth Partners LLC acquired a new stake in Royal Caribbean Cruises during the fourth quarter valued at approximately $40,000. Finally, Atlantic Edge Private Wealth Management LLC grew its stake in shares of 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 purchasing an additional 100 shares during the period. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on RCL shares. Mizuho reaffirmed an “outperform” rating and issued a $253.00 price target (down previously from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. Argus increased their target price on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Citigroup upped their price objective 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. BNP Paribas began coverage on shares of Royal Caribbean Cruises in a research note on Thursday, March 27th. They issued an “outperform” rating and a $262.00 target price for the company. Finally, Stifel Nicolaus reduced their target price on Royal Caribbean Cruises from $310.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $276.95.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,500 shares of the business’s stock in a transaction 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 of the company’s stock, 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 SEC, which can be accessed through the SEC website. Also, CFO Naftali Holtz sold 17,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the completion of the transaction, the chief financial officer now directly owns 42,127 shares of the company’s stock, valued at approximately $11,021,265.74. This trade represents a 28.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,492 shares of company stock valued at $28,571,705. 7.95% of the stock is owned by insiders.

Royal Caribbean Cruises Stock Up 0.4 %

Shares of Royal Caribbean Cruises stock opened at $192.52 on Friday. Royal Caribbean Cruises Ltd. has a 1 year low of $127.20 and a 1 year high of $277.08. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The company has a market capitalization of $51.81 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 0.90 and a beta of 2.26. The business has a 50-day moving average of $217.55 and a two-hundred day moving average of $225.48.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the company earned $1.25 EPS. As a group, equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

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 is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.56%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 28.06%.

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

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.