Lake Street Advisors Group LLC Sells 110 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Lake Street Advisors Group LLC decreased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,926 shares of the company’s stock after selling 110 shares during the period. Lake Street Advisors Group LLC’s holdings in Royal Caribbean Cruises were worth $677,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on RCL. Argus boosted their price objective on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Loop Capital started coverage on Royal Caribbean Cruises in a report on Tuesday, February 4th. They set a “hold” rating and a $250.00 price objective for the company. Stifel Nicolaus boosted their target price on Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Morgan Stanley increased their price target on Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company 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, Director Richard D. Fain sold 19,500 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was 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 of the company’s stock, valued at $47,491,190.28. This represents a 9.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises stock in a transaction 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 completion of the sale, the insider now directly owns 21,155 shares in the company, valued at $5,539,648.30. This represents a 41.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,492 shares of company stock valued at $28,571,705. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of RCL opened at $238.01 on Friday. The company has a market capitalization of $64.06 billion, a P/E ratio of 22.26, a P/E/G ratio of 0.90 and a beta of 2.59. The business’s 50-day moving average is $244.59 and its two-hundred day moving average is $214.84. 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 Ltd. has a fifty-two week low of $121.18 and a fifty-two week high of $277.08.

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 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 in the previous year, the company earned $1.25 earnings per share. Research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be issued a dividend of $0.75 per share. The ex-dividend date is 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 yield of 1.26%. Royal Caribbean Cruises’s dividend payout ratio is 28.06%.

Royal Caribbean Cruises declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is 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.