HighPoint Advisor Group LLC Sells 4,292 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

HighPoint Advisor Group LLC decreased its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 20.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,781 shares of the company’s stock after selling 4,292 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Royal Caribbean Cruises were worth $3,871,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Brown Brothers Harriman & Co. increased its holdings in Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after acquiring an additional 99 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new position in shares of Royal Caribbean Cruises in the third quarter worth approximately $27,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises in the fourth quarter worth $36,000. Truvestments Capital LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $36,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $40,000. Institutional investors own 87.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on RCL shares. Tigress Financial increased their target price on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. UBS Group increased their price objective on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Loop Capital raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a report on Wednesday, March 5th. BNP Paribas started coverage on shares of Royal Caribbean Cruises in a research report on Thursday. They set an “outperform” rating and a $262.00 target price for the company. Finally, Mizuho reiterated an “outperform” rating and issued a $253.00 price target (down from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Three research 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, the stock has an average rating of “Moderate Buy” and an average target price of $282.33.

Royal Caribbean Cruises Price Performance

Shares of RCL stock opened at $207.35 on Monday. The firm’s 50-day moving average is $238.63 and its two-hundred day moving average is $224.15. Royal Caribbean Cruises Ltd. has a 12 month low of $125.06 and a 12 month 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 $55.80 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (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 prior year, the business posted $1.25 earnings per share. Analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a yield of 1.45%. Royal Caribbean Cruises’s dividend payout ratio is 28.06%.

Royal Caribbean Cruises declared that its board has initiated a stock repurchase plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 14,992 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the sale, the insider now directly owns 21,155 shares in the company, valued at approximately $5,539,648.30. This represents a 41.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were 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 owns 143,214 shares in the company, 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. Over the last quarter, insiders have sold 109,492 shares of company stock valued at $28,571,705. 7.95% of the stock is currently owned by corporate 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.