Envestnet Portfolio Solutions Inc. Has $1.90 Million Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Envestnet Portfolio Solutions Inc. grew its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,226 shares of the company’s stock after acquiring an additional 305 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Royal Caribbean Cruises were worth $1,898,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Safe Harbor Fiduciary LLC acquired a new position in Royal Caribbean Cruises during the 3rd quarter worth approximately $27,000. Bay Harbor Wealth Management LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $36,000. Truvestments Capital LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $36,000. ORG Wealth Partners LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $40,000. Finally, LRI Investments LLC bought a new stake in shares of Royal Caribbean Cruises during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Wall Street Analyst Weigh In

RCL has been the topic of a number of analyst reports. Barclays upped 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. Macquarie upped their price objective on Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their price objective on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Truist Financial increased 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. Finally, 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 research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $283.53.

Royal Caribbean Cruises Stock Down 0.2 %

RCL stock opened at $214.75 on Friday. The stock has a market capitalization of $57.79 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 0.90 and a beta of 2.53. Royal Caribbean Cruises Ltd. has a fifty-two week low of $125.06 and a fifty-two week high of $277.08. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The business’s fifty day moving average price is $240.22 and its two-hundred day moving average price is $220.81.

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

Royal Caribbean Cruises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.75 per share. 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 dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, March 7th. Royal Caribbean Cruises’s dividend payout ratio is 28.06%.

Royal Caribbean Cruises announced that its board has authorized a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 58,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total value of $15,193,100.00. Following the sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Laura H. Bethge sold 14,992 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the sale, the insider now directly owns 21,155 shares in the company, valued at $5,539,648.30. This trade represents a 41.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,492 shares of company stock valued at $28,571,705. 7.95% of the stock is owned by corporate insiders.

Royal Caribbean Cruises 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.