Mirae Asset Global Investments Co. Ltd. Buys 5,735 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 29.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,902 shares of the company’s stock after buying an additional 5,735 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Royal Caribbean Cruises were worth $5,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Win Advisors Inc. bought a new position in Royal Caribbean Cruises in the fourth quarter valued at about $1,083,000. Stratos Wealth Advisors LLC increased its position in shares of Royal Caribbean Cruises by 9.8% during the 4th quarter. Stratos Wealth Advisors LLC now owns 2,317 shares of the company’s stock valued at $535,000 after purchasing an additional 207 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Royal Caribbean Cruises by 3.0% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,861 shares of the company’s stock worth $1,352,000 after purchasing an additional 171 shares during the period. Bay Harbor Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter worth approximately $36,000. Finally, Mather Group LLC. grew its position in Royal Caribbean Cruises by 7.2% during the fourth quarter. Mather Group LLC. now owns 2,527 shares of the company’s stock valued at $583,000 after buying an additional 170 shares during the period. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the transaction, the executive vice president now directly owns 22,348 shares in the company, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the completion of the sale, the director now directly owns 18,556,860 shares of the company’s stock, valued at approximately $4,335,253,633.20. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 372,609 shares of company stock valued at $87,647,208 over the last three months. 7.95% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Tigress Financial lifted their target price on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Friday. The Goldman Sachs Group reduced their price target on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Argus lifted their price objective on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, Macquarie increased their target price on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average target price of $284.12.

Royal Caribbean Cruises Stock Performance

Royal Caribbean Cruises stock opened at $264.39 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. Royal Caribbean Cruises Ltd. has a twelve month low of $113.10 and a twelve month high of $277.08. The company’s 50-day moving average price is $242.24 and its 200-day moving average price is $204.62. The company has a market cap of $71.09 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 0.98 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data 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 quarter in the previous year, the company earned $1.25 EPS. On average, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.96 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were given a $0.55 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a yield of 0.83%. Royal Caribbean Cruises’s dividend payout ratio is presently 20.58%.

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.