Royal Caribbean Cruises Ltd. (NYSE:RCL) Stake Lifted by Cibc World Markets Corp

Cibc World Markets Corp lifted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 19.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 38,876 shares of the company’s stock after purchasing an additional 6,248 shares during the period. Cibc World Markets Corp’s holdings in Royal Caribbean Cruises were worth $8,968,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Safe Harbor Fiduciary LLC acquired a new position in shares of Royal Caribbean Cruises during the 3rd quarter valued at $27,000. LRI Investments LLC bought a new position in Royal Caribbean Cruises during the third quarter valued at about $31,000. Bay Harbor Wealth Management LLC acquired a new position in Royal Caribbean Cruises during the fourth quarter worth about $36,000. Truvestments Capital LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter worth about $36,000. Finally, ORG Wealth Partners LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter worth about $40,000. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

RCL stock opened at $203.34 on Wednesday. The stock has a market cap of $54.72 billion, a P/E ratio of 19.02, a P/E/G ratio of 0.90 and a beta of 2.53. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The firm has a 50 day simple moving average of $240.70 and a 200 day simple moving average of $220.90. Royal Caribbean Cruises Ltd. has a 52 week low of $125.06 and a 52 week high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) 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 quarter last year, the company posted $1.25 earnings per share. Research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be given a $0.75 dividend. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a yield of 1.48%. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises’s dividend payout ratio is presently 28.06%.

Royal Caribbean Cruises announced that its board has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 1.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RCL shares. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Argus raised their target price on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Susquehanna dropped their price target on Royal Caribbean Cruises from $305.00 to $295.00 and set a “positive” rating on the stock in a report on Wednesday, March 5th. UBS Group increased their price objective on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Finally, Truist Financial lifted their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $283.53.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,500 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $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 accessible through this link. Also, CEO Jason T. Liberty sold 58,000 shares of Royal Caribbean Cruises stock in a transaction that occurred 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 of the company’s stock, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,492 shares of company stock valued at $28,571,705 in the last three months. Corporate insiders own 7.95% of the company’s stock.

About Royal Caribbean Cruises

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.