Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,121 shares of the company’s stock after selling 7,991 shares during the quarter. Handelsbanken Fonder AB’s holdings in Royal Caribbean Cruises were worth $28,403,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Plato Investment Management Ltd purchased a new position in Royal Caribbean Cruises in the 3rd quarter valued at $26,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Royal Caribbean Cruises in the third quarter valued at about $27,000. Bay Harbor Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter worth about $36,000. ORG Wealth Partners LLC purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter worth about $40,000. Finally, LRI Investments LLC acquired a new position in Royal Caribbean Cruises during the third quarter worth about $31,000. 87.53% of the stock is owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $244.20 on Friday. Royal Caribbean Cruises Ltd. has a fifty-two week low of $113.56 and a fifty-two week high of $277.08. 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 company has a 50 day moving average price of $244.57 and a 200 day moving average price of $211.77. The stock has a market capitalization of $65.72 billion, a P/E ratio of 22.84, a PEG ratio of 0.97 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. Equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current 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 an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, March 7th. Royal Caribbean Cruises’s payout ratio is currently 20.58%.

Royal Caribbean Cruises announced that its Board of Directors has authorized 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 buy up to 1.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Susquehanna raised their target price on shares of Royal Caribbean Cruises from $245.00 to $305.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lifted their price objective on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Barclays boosted their price objective on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Mizuho reaffirmed an “outperform” rating and issued a $253.00 target price (down from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. Finally, Truist Financial boosted their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $284.12.

Insiders Place Their Bets

In related news, 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 value 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 approximately $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Naftali Holtz sold 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the sale, the chief financial officer now directly owns 42,127 shares in the company, valued at approximately $11,021,265.74. The trade was a 28.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock worth $28,571,705 over the last three months. Company insiders own 7.95% of the company’s stock.

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.