Zacks Investment Management Sells 3,296 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Zacks Investment Management lessened its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,024 shares of the company’s stock after selling 3,296 shares during the period. Zacks Investment Management’s holdings in Royal Caribbean Cruises were worth $44,298,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RCL. Dorsey & Whitney Trust CO LLC raised its stake in Royal Caribbean Cruises by 2.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company’s stock worth $470,000 after purchasing an additional 39 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Royal Caribbean Cruises by 1.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company’s stock valued at $630,000 after acquiring an additional 42 shares during the last quarter. Hemington Wealth Management increased its stake in shares of Royal Caribbean Cruises by 9.0% in the fourth quarter. Hemington Wealth Management now owns 533 shares of the company’s stock valued at $123,000 after buying an additional 44 shares during the period. Verdence Capital Advisors LLC raised its holdings in Royal Caribbean Cruises by 3.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company’s stock worth $313,000 after purchasing an additional 47 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its holdings in Royal Caribbean Cruises by 2.2% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company’s stock worth $544,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of RCL opened at $193.38 on Wednesday. The company has a 50 day moving average price of $221.66 and a 200-day moving average price of $225.48. 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 stock has a market capitalization of $52.04 billion, a PE ratio of 18.09, a PEG ratio of 0.90 and a beta of 2.26. Royal Caribbean Cruises Ltd. has a fifty-two week low of $125.06 and a fifty-two week high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping 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 period in the prior year, the firm earned $1.25 earnings per share. Equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 7th were issued a $0.75 dividend. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.55%. Royal Caribbean Cruises’s dividend payout ratio is presently 28.06%.

Insider Activity

In related news, Director Richard D. Fain sold 19,500 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the completion of the sale, the director now owns 185,021 shares of the company’s stock, valued at approximately $47,491,190.28. This represents a 9.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Naftali Holtz sold 17,000 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total value of $4,447,540.00. Following the completion of the sale, the chief financial officer now owns 42,127 shares in the company, valued at $11,021,265.74. This represents a 28.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock worth $28,571,705 in the last quarter. Corporate insiders own 7.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on RCL. Loop Capital raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a research note on Wednesday, March 5th. BNP Paribas began coverage on Royal Caribbean Cruises in a research report on Thursday, March 27th. They set an “outperform” rating and a $262.00 target price for the company. Citigroup upped their price objective on Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Tigress Financial lifted their target price on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Morgan Stanley decreased their price target on Royal Caribbean Cruises from $270.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average target price of $276.95.

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.