RFG Bristol Wealth Advisors LLC Buys Shares of 1,670 Royal Caribbean Cruises Ltd. (NYSE:RCL)

RFG Bristol Wealth Advisors LLC purchased a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,670 shares of the company’s stock, valued at approximately $385,000.

Other institutional investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. grew 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 purchasing an additional 99 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at approximately $27,000. Bay Harbor Wealth Management LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter worth approximately $36,000. Truvestments Capital LLC bought a new position in Royal Caribbean Cruises during the fourth quarter valued at approximately $36,000. Finally, ORG Wealth Partners LLC acquired a new stake in Royal Caribbean Cruises in the fourth quarter valued at approximately $40,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RCL shares. Tigress Financial raised their price target on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a report on Friday, February 7th. UBS Group raised their target price on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Stifel Nicolaus increased their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a report on Friday, December 6th. BNP Paribas initiated coverage on Royal Caribbean Cruises in a report on Thursday, March 27th. They issued an “outperform” rating and a $262.00 target price for the company. Finally, Susquehanna reiterated a “positive” rating on shares of Royal Caribbean Cruises in a report on Tuesday, March 25th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $279.58.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $212.17 on Thursday. The business’s 50 day moving average is $236.72 and its 200-day moving average is $224.63. 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 firm has a market capitalization of $57.10 billion, a PE ratio of 19.85, a PEG ratio of 0.90 and a beta of 2.53. Royal Caribbean Cruises Ltd. has a 1-year low of $125.06 and a 1-year 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 (EPS) for the quarter, beating the consensus estimate 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 firm posted $1.25 EPS. Sell-side 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. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.41%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 28.06%.

Royal Caribbean Cruises declared that its board has initiated a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits 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 management believes its stock is undervalued.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 58,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the completion of the transaction, the chief executive officer now owns 143,214 shares in the company, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura H. Bethge sold 14,992 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the sale, the insider now owns 21,155 shares in the company, valued at $5,539,648.30. This trade represents a 41.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, 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.