Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Acquired by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. grew its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,259 shares of the company’s stock after buying an additional 58 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Royal Caribbean Cruises were worth $521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Plato Investment Management Ltd acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at about $26,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at about $27,000. Bay Harbor Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at about $36,000. ORG Wealth Partners LLC purchased a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at about $40,000. Finally, LRI Investments LLC purchased a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Analyst Ratings Changes

RCL has been the subject of several recent analyst reports. Mizuho restated 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. Loop Capital initiated coverage on Royal Caribbean Cruises in a research note on Tuesday, February 4th. They issued a “hold” rating and a $250.00 price target for the company. Truist Financial lifted their price target on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Argus lifted their price target on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Barclays lifted their price target on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $284.12.

Insider Activity at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,500 shares of the stock in a transaction on Thursday, February 13th. The stock was 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 of the company’s stock, valued at $47,491,190.28. This represents a 9.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total value of $15,193,100.00. Following the completion of the transaction, the chief executive officer now directly owns 143,214 shares in the company, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock valued at $28,571,705 over the last quarter. 7.95% of the stock is owned by insiders.

Royal Caribbean Cruises Stock Down 4.0 %

NYSE:RCL opened at $234.16 on Friday. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The stock’s fifty day moving average is $244.35 and its two-hundred day moving average is $212.42. Royal Caribbean Cruises Ltd. has a 52 week low of $119.48 and a 52 week high of $277.08. The stock has a market capitalization of $63.02 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 0.90 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results 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 business earned $1.25 EPS. Research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, March 7th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio is 20.58%.

Royal Caribbean Cruises declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board 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.